Former Bill Gates Assistant, Steve Ballmer, Surpasses Mentor in Wealth Accumulation

Money | July 2, 2024, 8:44 p.m.

Former Microsoft CEO Steve Ballmer, who initially did not receive any shares when he joined the company, has now surpassed its founder Bill Gates in net worth. With a current net worth of $157 billion, Ballmer is now the sixth richest person globally, surpassing other tech giants like Google's Sergey Brin and Oracle's Larry Ellison. His wealth is primarily derived from his holdings in Microsoft, which have surged due to the company's success in the AI market. Despite not being a founder, Ballmer's $100 billion fortune as an employee is a rarity. In contrast, Gates has diversified his portfolio and focused on philanthropy, including donating $59.5 billion to the Bill & Melinda Gates Foundation. Ballmer's financial success can be attributed to a strategic deal made early in his career at Microsoft, which secured him a substantial stake in the company.