Steve Ballmer Net Worth: How He Made His Fortune (2024)

Previously the chief executive officer (CEO) at Microsoft and now the Los Angeles Clippers basketball team owner, Steve Ballmer is renowned for his business acumen. His investments have propelled him to become one of the wealthiest individuals globally. Learn more about Steve Ballmer’s net worth, how he’s made his fortune, and more.

Who is Steve Ballmer?

Steve Anthony Ballmer is an American entrepreneur and executive widely recognized for his tenure as Microsoft’s CEO. Born on March 24, 1956, to Frederic and Beatrice Ballmer in Detroit, Michigan, he grew up in Farmington Brussels, Michigan. Steve Ballmer’s net worth ofapproximately $123 billionmakes him recognized as a billionaire, a prominent philanthropist, and an influential figure in the business world.

Steve Ballmer’s Education and Background

Mr. Ballmer pursued his education at Detroit Country Day School, where he studied mathematics and economics. Ballmer then attended Harvard University, where he studied applied mathematics and economics, disciplines that would significantly influence his future endeavors.

After graduating with honors from Harvard, Ballmer emerged as a highly accomplished and motivated individual, possessing a solid academic foundation and a profound comprehension of business principles. His education at Harvard equipped him with the expertise and capabilities essential for embarking on an exceptional career path.

Steve Ballmer’s Beginnings and Contributions to Microsoft

Ballmer started his journey at Microsoft Corporation (MSFT) four decades ago as an assistant to the president, primarily functioning as a business manager for the rapidly expanding software company. He was employee number 30. Over time, he climbed the corporate ladder, eventually assuming the roles of president and later CEO, following in Gates’ footsteps.

One of Ballmer’s notable contributions to Microsoft was his participation in advancing the .NET Framework. This groundbreaking technology framework transformed the process of building, deploying, and managing software applications, laying the foundation for contemporary web and enterprise applications. Ballmer’s forward-looking mindset and strategic foresight were pivotal in steering the company toward a focus on innovation and technological progress.

Steve Ballmer’s Net Worth and Fortune

Steve Ballmer has a net worth of ~$123 billion. The bulk of his wealth stems from his ownership of 333.3 million shares of Microsoft stock, constituting approximately 4% of the total outstanding shares, making him the company’s largest individual shareholder. Steve Ballmer accumulated wealth through his ownership of shares in Microsoft Corporation, his previous roles within the company, his stewardship of the Los Angeles Clippers, and his collaboration with Accenture Plc (ACN).

Steve Ballmer Net Worth Ranking in Billionaire Index

Ballmer ranks eighth on the Billionaires Index, with his wealth increasing by over $30 billion since the start of the year. He is surpassed only by Bernard Arnault and his family, Elon Musk, Jeff Bezos, Mark Zuckerberg, Larry Ellison, Warren Buffett, and Bill Gates. Following Ballmer in the top 10 are Mukhesh Ambani and Larry Page. Ballmer stands out among the top 10 individuals as the sole non-founder or heir of a significant business empire.

Setbacks

However, Steve Ballmer had unforeseen challenges and obstacles like any entrepreneur’s journey. Despite Microsoft’s remarkable success, it lagged behind rivals such as Apple (APPL) and Google (GOOG, GOOGL) in specific domains. It seemed reminiscent of the brainy student who thrived in academics but struggled in athletic pursuits like dodgeball. Nevertheless, Steve remained determined to elevate Microsoft to greater prominence.

Steve Ballmer’s Investments

Apart from his significant ventures in Microsoft and American Basketball, Steve Ballmer’s net worth also extends to other pursuits despite challenges in the past.

Real Estate

In 2020, it was reported that Ballmer had bought a property in Hunts Point, Washington, for $9.8 million. The historic residence, constructed in 1902, spans 3,790 square feet and sits on approximately one acre of land. This acquisition wasn’t Ballmer’s inaugural venture into Seattle’s real estate market. In 1987, he and his wife, Connie, purchased another nearby property for $1.325 million, which has significantly appreciated over the years, with an estimated value exceeding $12 million by 2020.

Steve Ballmer’s real estate ventures extend to a luxurious waterfront residence in Hunts Point, Washington, now valued at $12 million. He also acquired a second beachfront property still in Hunts Point and land on Whidbey Island.

Splurging on The LA Clippers

Steve indulged his love for basketball and splurged $2 billion to buy the Los Angeles Clippers in 2014. The Clippers are now valued at about $4.65 billion. But to cover a chunk of that hefty price tag, Steve sold 14 million of his Microsoft shares.

In 2020, Ballmer made another notable acquisition, purchasing the Forum in Inglewood for $400 million. The Forum previously served as the home venue for the LA Lakers before they relocated to the Staples Center. Currently, the Clippers also play their games at the Staples Center. Still, Ballmer’s purchase of the Forum allows them to have their dedicated venue once it undergoes redevelopment. The Clippers’ new home will be called the Intuit Dome and open for the 2024 – 2025 season.

Microsoft Stock

A significant portion of Ballmer’s wealth is invested in Microsoft stock, with Bloomberg estimating that he maintains an approximately 4% ownership stake in the company, making him the largest shareholder. Microsoft’s shares experienced a remarkable surge of about 40% in 2023, driven mainly by a rally in the technology sector fueled by advancements in artificial intelligence (AI) and the cloud.

Other Companies

In addition to his investment in Microsoft shares, Steve Ballmer has ownership stakes in various companies and organizations, including:

• The Social Solutions digital management firm
• The USAFacts is a charitable organization.

Philanthropic Ventures: The Ballmer Group

In 2015, Steve Ballmer and his wife, Connie, established The Ballmer Group to support economic initiatives and foster positive financial outcomes in the United States. The Ballmer Group seeks to create lasting, positive change in communities across the U.S. through advocacy ventures, data and technology development, and more.

Bottomline: Steve Ballmer’s Net Worth

Ballmer’s Microsoft shares have surged to unprecedented levels, elevating his position on the billionaire list. He is known for his hands-on approach to leadership, often diving deep into the intricacies of business operations. While he may still trail behind other software titans like Mark Zuckerburg, Larry Ellison, and Bill Gates, all boasting net worths exceeding $130 billion, Ballmer’s achievements as a retired CEO and non-founder have positioned him favorably.

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