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Posted by BeauHD from the rich-getting-richer dept.
An anonymous reader quotes a report from Neowin: Former Microsoft CEO Steve Ballmer, known for his enthusiastic energy and salesmanship, is now richer than Microsoft co-founder Bill Gates. This is the first time Ballmer has surpassed Bill Gates in wealth. According to the Bloomberg Billionaires Index, Steve Ballmer is now the sixth-richest person in the world with a $157.2 billion net worth.
Steve Ballmer surpassed Bill Gates for two reasons: – Ninety percent of Steve Ballmer’s wealth is in Microsoft stock. Ballmer remains the single largest individual shareholder of Microsoft stock. Microsoft’s stock continues its strong growth momentum and is up 21% this year alone.
– Bill Gates diversified his portfolio through Cascade Investment. Therefore, his other investments did not yield the returns that Microsoft stock would have provided.
“[T]he Bloomberg Billionaires Index only considers an individual’s current personal wealth,” notes the report. It doesn’t take into consideration each of the executives’ various charitable donations, such as Gates’ $60 billion donation to the Gates Foundation or Ballmer’s million-dollar donations to major universities in the U.S.
Time to take stock. Go home with some office supplies.
Working…
