Former Microsoft CEO Steve Ballmer has leapfrogged Bill Gates on the list of world’s richest people — the primary time that the corporate co-founder’s fortune has been eclipsed by one in every of his former underlings.
Ballmer, the boisterous owner of the NBA’s Los Angeles Clippers who succeeded Gates as Microsoft CEO in 2000, moved as much as sixth on Bloomberg Billionaires Index, which estimated his net value at $157.2 billion.
Gates, who has retreated from the company board and has focused on philanthropic endeavors, has a net value valued at $156.7 billion, based on Bloomberg.
The 68-year-old Gates’ fortune has partly taken successful from his divorce in addition to funneling billions of dollars to accumulate the $75 billion Gates Foundation, one in every of the largest charitable organizations on the earth, the outlet noted.
Ballmer, meanwhile, has seen his net value soar as Microsoft advantages from the synthetic intelligence rally that has made it the most dear company on the earth, with a $3.3 trillion market cap.
He’s Microsoft’s largest shareholder — owning an estimated 333.25 million shares — or around 4% — of the corporate.
While 90% of Ballmer’s fortune is linked to his stake in Microsoft, his other foremost asset is the Clippers, that are valued at around $4.5 billion.
Gates is the second-largest shareholder of Microsoft stock with 102.99 million shares, based on SEC filings.
He derives around half his wealth from his holding company, Cascade Investment, which owns stakes in several firms spanning a lot of industries including hospitality, agriculture, waste management, retail, automotive dealerships and food.
Last month, Gates was in Wyoming to interrupt ground on the development of a nuclear power plant that might be built by his energy company, TerraPower.
In 2021, he divorced his wife of 27 years, Melinda French Gates. On the time divorce papers were filed, Bill Gates had an estimated net value of $130 billion.
The couple didn’t sign a prenuptial agreement before they wed. Terms of the divorce settlement weren’t disclosed.
In May, French Gates announced that she was stepping down as co-chair of the Bill & Melinda Gates Foundation.
As a part of French Gates’ separation from the charity, she received $12.5 billion from her ex-husband which she plans to make use of for her own philanthropic endeavor.
The pair divorced following reports of the previous’s philandering in addition to his highly publicized friendship with convicted pedophile Jeffrey Epstein.
Gates co-founded Microsoft with the late Paul Allen in 1975. He hired Ballmer, his Harvard classmate, five years later, becoming the corporate’s thirtieth worker and first business manager.
Within the last 12 months, the software giant’s stock price has risen by nearly 35% — outpacing the S&P 500 index and its 23% gain during the last yr.
Under the leadership of CEO Satya Nadella, Microsoft has positioned itself as a pacesetter in cloud computing in addition to integration of artificial intelligence systems into its product suite.
Former Microsoft CEO Steve Ballmer has leapfrogged Bill Gates on the list of world’s richest people — the primary time that the corporate co-founder’s fortune has been eclipsed by one in every of his former underlings.
Ballmer, the boisterous owner of the NBA’s Los Angeles Clippers who succeeded Gates as Microsoft CEO in 2000, moved as much as sixth on Bloomberg Billionaires Index, which estimated his net value at $157.2 billion.
Gates, who has retreated from the company board and has focused on philanthropic endeavors, has a net value valued at $156.7 billion, based on Bloomberg.
The 68-year-old Gates’ fortune has partly taken successful from his divorce in addition to funneling billions of dollars to accumulate the $75 billion Gates Foundation, one in every of the largest charitable organizations on the earth, the outlet noted.
Ballmer, meanwhile, has seen his net value soar as Microsoft advantages from the synthetic intelligence rally that has made it the most dear company on the earth, with a $3.3 trillion market cap.
He’s Microsoft’s largest shareholder — owning an estimated 333.25 million shares — or around 4% — of the corporate.
While 90% of Ballmer’s fortune is linked to his stake in Microsoft, his other foremost asset is the Clippers, that are valued at around $4.5 billion.
Gates is the second-largest shareholder of Microsoft stock with 102.99 million shares, based on SEC filings.
He derives around half his wealth from his holding company, Cascade Investment, which owns stakes in several firms spanning a lot of industries including hospitality, agriculture, waste management, retail, automotive dealerships and food.
Last month, Gates was in Wyoming to interrupt ground on the development of a nuclear power plant that might be built by his energy company, TerraPower.
In 2021, he divorced his wife of 27 years, Melinda French Gates. On the time divorce papers were filed, Bill Gates had an estimated net value of $130 billion.
The couple didn’t sign a prenuptial agreement before they wed. Terms of the divorce settlement weren’t disclosed.
In May, French Gates announced that she was stepping down as co-chair of the Bill & Melinda Gates Foundation.
As a part of French Gates’ separation from the charity, she received $12.5 billion from her ex-husband which she plans to make use of for her own philanthropic endeavor.
The pair divorced following reports of the previous’s philandering in addition to his highly publicized friendship with convicted pedophile Jeffrey Epstein.
Gates co-founded Microsoft with the late Paul Allen in 1975. He hired Ballmer, his Harvard classmate, five years later, becoming the corporate’s thirtieth worker and first business manager.
Within the last 12 months, the software giant’s stock price has risen by nearly 35% — outpacing the S&P 500 index and its 23% gain during the last yr.
Under the leadership of CEO Satya Nadella, Microsoft has positioned itself as a pacesetter in cloud computing in addition to integration of artificial intelligence systems into its product suite.
