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In a significant milestone, Steve Ballmer, former CEO of Microsoft Corp., has surpassed company co-founder Bill Gates to become the sixth-richest person in the world. This shift in wealth comes as Microsoft’s stock reached record highs, bolstered by its strategic partnership with OpenAI, positioning it as a major beneficiary of the artificial intelligence boom in the US market.
Steve Ballmer’s ascent to the sixth position on the Bloomberg Billionaires Index is attributed primarily to his substantial holdings in Microsoft, which account for over 90% of his estimated $157.2 billion net worth. Ballmer, who succeeded Gates as CEO in 2000 and retired in 2014, has retained a significant stake in the company, benefiting immensely from its recent stock gains.
Meanwhile, Bill Gates, who co-founded Microsoft in 1975 and led it until 2000, has diversified his wealth over the years. His $156.7 billion fortune includes substantial holdings in Cascade Investment, formed from Microsoft stock sales and dividends, and a significant stake in waste-management company Republic Services Inc. Despite his reduction in personal wealth through philanthropy, Gates remains a formidable figure in global charitable endeavors.
Bill Gates, along with his former wife Melinda French Gates and Warren Buffett, established the $75 billion Gates Foundation, one of the largest charitable organizations globally. Through the Foundation, Gates has channeled nearly $60 billion toward various philanthropic initiatives, focusing on global health, education, and poverty alleviation.
Recent developments saw Melinda French Gates stepping down as co-chair of the Foundation and receiving a significant settlement of $12.5 billion, which she plans to utilize for her own charitable pursuits. This move underscores the ongoing evolution of their philanthropic commitments and priorities.
Steve Ballmer’s rise to prominence in global wealth rankings, surpassing his former colleague Bill Gates, highlights the enduring financial impact of Microsoft’s success and Ballmer’s strategic investments. Meanwhile, Bill Gates continues to leave a profound legacy through his philanthropy, shaping global health and development efforts with substantial contributions.
Sources By Agencies
