Steve Ballmer, the former CEO of Microsoft and current owner of the Los Angeles Clippers, has seen a dramatic rise in his wealth since stepping down from the tech giant in 2014. Over the past decade, his net worth has surged by nearly 600%, a leap that has positioned him as one of the wealthiest individuals on the planet.
Ballmer, who joined Microsoft in 1980 with a modest salary of $50,000, took the helm as CEO in 2000, succeeding his close friend Bill Gates. During his tenure, Microsoft's revenue more than tripled, despite some high-profile missteps, like underestimating the potential of Apple's iPhone.
By the time he retired in 2014, Ballmer had retained a significant portion of his Microsoft stock. This decision has proved to be a masterstroke, fueling his wealth to an estimated $122 billion as of October 2024. This financial success places him $15 billion ahead of Bill Gates and secures him the position of the 10th-richest individual in the world, as per The Street.
Shortly after leaving Microsoft, he turned his attention to sports, purchasing the LA Clippers. In August 2024, he officially opened the Intuit Dome, a state-of-the-art arena for his NBA team. Ballmer's move into basketball was unexpected, even to him.
"Who the heck ever thinks you're going to get enough money to own a basketball team?" Ballmer said in an interview with CBS News, expressing his surprise at this turn in his career.
Known for his high-energy approach, Ballmer's enthusiasm became a hallmark of his leadership style. His viral moment chanting "developers, developers, developers" remains an iconic representation of his passion for the tech industry. Even now, he admits that while some might find his exuberance overwhelming, it's what drives him.
"I personally feed off energy," Ballmer said. "And it's not everybody's cup of tea. But it's me."
Ballmer's tenure at Microsoft wasn't without its challenges. He famously dismissed the potential of the iPhone in 2007, a decision he later acknowledged with some regret. "Gosh darn it. You know, the phone. We should've been the leader," he told CBS News.
Despite this misstep, his time at Microsoft is still regarded as successful, with substantial growth in both revenue and influence.
Today, Ballmer finds fulfillment in running the Clippers, a shift from his days in the tech industry. He enjoys the straightforward nature of sports compared to the complexities of running a global company.
"People ask me, 'What's the difference between business and basketball?' Well, in business, you can hide a bad quarter," Ballmer said. "In basketball, every 24 seconds you get a scorecard. There's no hiding."
