Steve Ballmer
Billionaire Former CEO of MICrosoft

Steve Ballmer Net Worth: $19.3 Billion

Steven “Steve” Ballmer is an American entrepreneur, who served as the Chief Executive Officer of Microsoft from 2000 to 2014. An announcement was made on 23rd August, 2013, citing that this self-made billionaire would step down from his position as Microsoft’s CEO within twelve months. He officially retired from his position on 4th February, 2014 and Satya Nadella took his position as CEO of the company. Today, Ballmer is one of the wealthiest people in the United States. He has an estimated net worth of $19.3 billion. 

steve ballmer

Ballmer was born on 24th March, 1956 in Detroit, Michigan, United States to a Swiss father and American-Jewish mother. He attended Lawrence Technological University in 1973 for his college prep and engineering classes. He graduated from Detroit Country Day School and managed to get a perfect score of 800 on the mathematical section of the SAT. Ballmer currently sits on the Board of directors of the school. In the year 1973, he graduated with an A.B in Applied Mathematics and Economics from Harvard University. He also enrolled himself in Stanford Graduate School of Business, but he dropped out in 1980.

Ballmer’s career at Microsoft started on 11th June, 1980, becoming the 80th employee and the first business manager hired by the company’s founder, Bill Gates. Ballmer’s initial salary was $50,000, and a percentage of ownership of the company. In 1981, Microsoft was incorporated and Ballmer owned about 8% of the company. In the year 2003, he sold approximately 8.3 per cent of his shareholdings, remaining with only a 4 per cent stake in the company. Ballmer also managed to replace the employee stock options program of the company.

During the 20 years that Ballmer had worked at Microsoft, Ballmer served as the head of several divisions, including support, sales, operating systems development and operations. He maintained the position of Executive Vice President of the company from 1992 to 1997, and led the company’s development of the NET Framework. He was then promoted to the position of President of the company, a title that he held from July 1998 to February 2001. On January 2000, Ballmer officially became the CEO of Microsoft, becoming responsible for handling both the company’s daily operations and finances. Gates, however, remained Chairman of the board, and retained control of the technological vision.

In 2013, Ballmer made an announcement of his retirement, after Microsoft lost billions of dollars on the Surface tablet and on acquisitions. The former CEO stated that he regretted their lack of attention to Windows Mobile in the early 2000s, leaving the company a distant in the current smartphone market. Ballmer was ranked 2nd person after Roberto Goizueta to reach the billionaire status in U.S. dollars, based on stock options received as an employee of a corporation in which is neither founded, nor a relative of a founder. This self-made billionaire is married to Connie Snyder, whom he has been married to since 1990. Together they have three sons. Ballmer resides in Washington, United States.

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References:

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