Steve Ballmer Makes $1 Billion a Year in Microsoft Dividends

Former Microsoft Corp. (NASDAQ: MSFT) CEO Steve Ballmer makes $1 billion a year from Microsoft dividends. The huge tech company has a dividend of $3.32 per year. Ballmer is the sixth richest person in the world, according to the Bloomberg Billionaires Index, with a net worth of $163 billion. That is just behind his former boss, Bill Gates, who has a net worth of $176 billion.

Unlike most of the world’s richest people, Ballmer did not start a company or inherit money from a rich family. As an undergraduate at Harvard, he met Bill Gates, co-founder and long-time CEO of Microsoft. Gates hired him just after Microsoft was founded, and he worked his way up to the CEO’s job.

Ballmer’s net worth is so high because he held Microsoft stock long after leaving the CEO position in 2014. He joined the tech company in 1980 and became CEO in 2000. During his 14-year tenure as CEO, Microsoft’s revenue tripled. As Ballmer left, Eric Jackson at the hedge fund Ironfire Capital told Reuters, “I don’t see anybody else on the management team at Microsoft that I think would be much better than Ballmer.” However, Ballmer received criticism for not launching popular products like the rival Steve Jobs did at Apple.

Ballmer kept 333 million shares despite leaving, about triple the number Gates has kept. His total makes him the largest private holder of Microsoft stock.

Ballmer has become a major philanthropist. While not as visible as Gates and the Bill & Melinda Gates Foundation, according to Forbes, “He has ramped up his philanthropy since 2014; to date the Ballmers have given away more than $4 billion.”

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