How wealthy is Steve Ballmer? Well, reports indicate the Los Angeles Clippers owner has surpassed his former Microsoft colleague Bill Gates, becoming the sixth richest person globally. Ballmer’s net worth reportedly exceeds Gates’ by around $1 billion. The Clippers’ owner splurged a fraction of his net worth so that the Clippers could have a shiny new stadium. It was built in Inglewood, where the former Los Angeles Lakers Arena was located. But, he also refused to hand a maximum contract to Paul George worth $200 million. It all gets a little confusing as we explore his value.

So, two factors led to Ballmer leapfrogging Bill Gates. Microsoft’s founder has donated nearly $50 billion to various causes over the last 30 years. Second, while Gates diversified his investments, Ballmer retained his Microsoft stock, which has significantly increased in value.

When Ballmer started at Microsoft, he didn’t receive any shares. Fast forward to today, and his substantial Microsoft holdings have propelled him to a net worth of $157 billion, making him wealthier than the company’s founder, Bill Gates. At 68, Ballmer has now edged out Gates, securing his spot as the sixth richest person in the world. He surpasses several notable tech figures, including Google co-founder Sergey Brin, Oracle founder Larry Ellison, and Dell Technologies CEO Michael Dell. What an incredible turnaround by an employee!

Ballmer became the head of Microsoft in 2000, navigating through a mix of successes and failures during his leadership. He famously underestimated the iPhone’s potential when it launched in 2007, expressing regret Microsoft should have been a leader in the phone market.

Despite this oversight, Microsoft’s revenue surged more than threefold under his watch, and he retained a significant amount of stock, leading to a remarkable increase in his personal wealth. Bloomberg estimates that 90% of his wealth is because of Microsoft stocks.

How does Steve Ballmer spend his money?

For a billionaire, his most expensive purchase is still the Clippers. In 2014, Ballmer made headlines by purchasing the LA Clippers after stepping down from Microsoft. When questioned about his long-held dream of owning a basketball team, he humorously dismissed the idea, saying, “Of course not. Who the heck ever thinks you’re going to get enough money to own a basketball team?” It’s interesting to see how paths can change unexpectedly in life, isn’t it? From tech mogul to NBA owner. So how else does he spend his money? He does not splurge on cars or other luxuries. Yet, his taste in cars reflects a down-to-earth lifestyle.

A devoted Ford fan, he comes from a family with a legacy in the company; his father worked there for many years in Detroit. At one point, Ballmer drove a Ford Fusion hybrid sedan that Alan Mulally, the former CEO of Ford, personally delivered to him. Interestingly, his son Pete continues to drive a 2015 Ford Focus, a car initially purchased for Pete’s younger brother during his high school years.

It shows how the value of modesty runs deep in the Ballmer family!

The same modesty is also reflected in his house. He owns a modest four-bedroom where he raised his kids spread over 2 acres. But he does keep buying real estate. A great investment!

Over the years, Steve Ballmer has amassed several properties in Washington state, Microsoft’s home base. In 2019, he and his wife, Connie, invested $9.8 million to purchase a home next to their existing residence in Hunts Point, where they live with their three children. Their property journey began in 2005 when they acquired land on Whidbey Island, Washington.

While his Microsoft role is well known, he has also been the Director of Accenture Ltd. and Accenture SCA. Apart from these positions, he does not seem to have any business ventures; his decision to hold Microsoft stocks made him wealthy.