July 02, 2024 – According to the latest data released by the Bloomberg Billionaires Index, Steve Ballmer has surpassed Microsoft co-founder Bill Gates to become the world’s sixth-richest person, with a net worth of $157.2 billion.
Media reports cite two primary reasons for Ballmer’s rise in wealth relative to Gates. Firstly, Ballmer, who remains the largest individual shareholder of Microsoft stock, holds 90% of his wealth in the company’s shares. The robust growth of Microsoft’s stock, which has risen by 21% this year, has significantly contributed to his increasing net worth.
Secondly, while Bill Gates has diversified his investment portfolio through Cascade Investment, his other investments have not yielded the same returns as Microsoft stock. This divergence in investment strategies has played a key role in Ballmer’s ascendancy.
It’s important to note that the Bloomberg Billionaires Index only calculates current personal wealth and does not include other financial information. Bill Gates, for his part, has been actively involved in philanthropy through the Bill and Melinda Gates Foundation, one of the largest charitable organizations in the world. The foundation holds over 75billioninassets,andGateshasdonatedmorethan60 billion to it over the past two decades.
Although Steve Ballmer has not committed to large-scale philanthropy like Gates, he has made significant contributions to various key universities in the United States. One notable example is his $425 million donation to the University of Oregon. Additionally, he has founded the nonprofit organization USAFacts.org, which aims to educate people about the revenue, spending, and social impact of the U.S. government.
