RSG - Bill Gates Hired Steve Ballmer As The First Business Manager At Microsoft And Now Is Behind Him On The Billionaire's Index Thanks To AI | Benzinga
Steve Ballmer has surpassed Bill Gates to become the wealthiest former CEO of Microsoft Corp. (NASDAQ:MSFT), riding on the back of the company’s AI-driven stock rally.
What Happened: Ballmer’s net worth has now reached $157.2 billion, making him the sixth-richest person globally, according to the Bloomberg Billionaires Index. This marks the first time Ballmer has overtaken Gates, the co-founder of Microsoft.
The surge in Microsoft shares, which have seen a 21% increase this year, has significantly contributed to Ballmer’s wealth. Over 90% of his net worth is tied to Microsoft shares.
On the other hand, Gates, with a fortune of $156.7 billion, has diversified his holdings. Approximately half of his wealth is held through Cascade Investment, which was formed from the proceeds of Microsoft stock sales and dividends. He also owns a $21 billion stake in waste-management company ...