Steve Ballmer Biography and Net Worth
|Net Worth $92 Billion|
|Full Name Steven Anthony Ballmer|
|Birth Date Mar 24, 1956|
|Age 66 years|
|Birthplace Detroit, Michigan, U.S.|
|Occupation Investor, Businessperson|
|Spouse Connie Snyder|
Steven Anthony Ballmer, an investor, and businessman from the United States, led Microsoft as its CEO from 2000 until 2014. Steve is the current owner of the National Basketball Association’s Los Angeles Clippers, an American National basketball team. According to the Bloomberg Billionaires Index, as of 2022, he is the ninth-richest person in the world with an estimated net wealth of $92 billion.
At Microsoft Bill Gates hired Ballmer in 1980, and on January 13, 2000, he succeeded Gates as CEO. Ballmer served on the Microsoft Board of Directors until August 19, 2014.
Steve Ballmer Early Life
On March 24, 1956, Steven Anthony Ballmer was born in Detroit, Michigan. Frederic Henry Ballmer, his father, worked as a manager at Ford Motor Company. Ballmer reportedly still drives a Ford today as a tribute to his father. He grew up in Farmington Hills and lived in Brussels from 1964 to 1967, and attended the International School of Brussels.
Ballmer studied engineering and mathematics thoroughly at Lawrence Technical University and Detroit Country Day School before enrolling at Harvard University, where he received a Bachelor of Arts degree in applied mathematics and economics in 1977. At Harvard Ballmer supervised, the football team Harvard Crimson football, and he became friends with Bill Gates there also.
After completing his degree, he worked for Procter & Gamble for two years as an associate product manager. In 1979, he subsequently enrolled in the Stanford Graduate School of Business.
Ballmer approached his friend Gates in search of a summer job at his company after finishing his first year at business school. Instead, Gates requested Ballmer to accept a full-time position managing the business’s operations.
Steve Ballmer Career
Ballmer joined Microsoft in June of 1980 after leaving Stanford, making him the first business manager hired by Gates. His first job was to find capable personnel for the expanding company.
Soon after, Microsoft agreed to develop an operating system for the new series of personal computers from IBM. Gates and his business colleague Paul Allen, the company’s co-founders, focused on the technological side of the firm while Ballmer was given charge of running the operations.
After Microsoft was formed in 1981, Ballmer restructured the partnership into a corporate framework. As a result, Gates eventually held 53% of the shares, Allen had 35%, and Ballmer had 8%. In the 1980s, Ballmer supervised the operating system’s development, which was the foundation of the company’s operations.
Ballmer’s career reached a turning point in 1986. The Microsoft Office program suite, which includes word processing, spreadsheet, and presentation software, was a major factor in the company’s success.
He held a number of significant positions inside the organization during the following years until being appointed Executive Vice President, Sales, and Support in February 1992. He was Microsoft’s President from July 1998 to February 2001. In January 2000, Ballmer received his title of Chief Executive Officer (CEO).
Under his direction, Microsoft expanded its product line to include items like the Xbox video game console and the Zune line of portable media players. During Ballmer’s time as CEO, Microsoft’s profitability increased dramatically. The company’s yearly revenue went from $25 billion to $70 billion, while its net income rose by 215 % to $23 billion.
Ballmer made his retirement plans public in 2013 and left his post as CEO of Microsoft in February 2014. In August 2014, he resigned from the board of directors of the business.
Steve Ballmer’s Wife and children
In 1990, he Married Connie Snyder, a journalist by profession and they have three sons. Ballmer and his wife are both involved in philanthropy, and they gave the University of Oregon $50 million in 2014.
Steve Ballmer’s Net Worth
He is the ninth richest person in the world with an estimated net worth of $92 billion. The 333.3 million shares of Microsoft stock that Steve Ballmer owns account for the great majority of his net worth. He has sold $3.4 billion worth of stock and received around $4.5 billion in dividends throughout the years. Based on stock options for a firm he did not start, Steve Ballmer became just the second person ever to become a billionaire.
Ballmer made about $1.275 million in total salary while serving as the CEO of Microsoft. This consisted of a base salary of approximately $666,000, a cash bonus of approximately $600,000, and other compensation of around $11,000.
Steve Ballmer Properties
According to estimates from 2020, Ballmer paid $9.8 million for a home in Hunts Point, Washington. The historic house has 3,790 square feet of interior space, around an acre of land, and was constructed in 1902. He and his wife Connie spent $1.325 million on another adjacent house in 1987. Since then, the property’s value has risen, reaching a stated value of over $12 million in 2020. Ballmer also paid $400 million for the Inglewood Forum in 2020.