Former Microsoft CEO Steve Ballmer, the sixth richest person in the world, celebrates his 68th birthday today with a net worth of about $148 billion, according to the Bloomberg Billionaires Index. As he inches closer to overtaking his old boss, Bill Gates, who sits at $154 billion, Ballmer reflects on his journey from a Stanford Business School dropout to a tech titan.
Joining Microsoft as the company’s 30th employee, Ballmer earned a modest base salary of $50,000 and witnessed the small startup grow into one of America’s fastest-growing companies. Under his leadership, Microsoft dominated the growth of personal computers in the 1990s with the development of Windows, an easy-to-use operating system. Taking over for Gates in 2000, Ballmer navigated through an antitrust case, the aftermath of the dot-com crash, and fierce competition from rivals like Google and Apple.
During his tenure, Ballmer tripled Microsoft’s annual revenue to nearly $78 billion, with profits swelling to $22 billion in his last full fiscal year as CEO. Despite some challenges, Ballmer set the stage for Microsoft’s remarkable comeback, propelling the company to become the most valuable in the world with a market capitalization of $3.2 trillion.
Ballmer still holds a 4.5% stake in Microsoft, which has seen significant growth following his successor Satya Nadella’s strategic investments. In 2021, he joined the elite club of centibillionaires with a net worth exceeding $100 billion, making his fortune as an employee rather than an entrepreneur.
After bidding farewell to Microsoft in 2014, Ballmer ventured into new entrepreneurial endeavors, purchasing the NBA’s Los Angeles Clippers for $2 billion, a move that has proven lucrative as Forbes now values the franchise at over $4.5 billion. Additionally, Ballmer has delved into philanthropy, donating billions to various causes aimed at promoting economic mobility and supporting underserved communities.
In a candid interview with Fortune, Ballmer shared some key tips for success based on his experience at Microsoft:
1. **Take a look at the big picture:** CEOs must see the entire competitive space to lead effectively.
2. **Always look for talent:** Hiring top-notch employees is crucial for a company’s success.
3. **Always reconsider:** Adapting to changing market trends is essential for long-term success.
4. **Plan for the short term and long term:** Balancing immediate needs with long-term goals is key to sustained growth.
5. **Know where you fall short:** Recognizing one’s limitations and continuous growth are essential for personal and professional development.
Ballmer’s journey from a young dropout to a tech magnate and philanthropist exemplifies the power of perseverance, strategic thinking, and a commitment to making a positive impact. As he continues to shape the future of the Clippers and invest in social initiatives, Ballmer’s legacy serves as an inspiration for aspiring entrepreneurs and leaders worldwide.
Sources:
– [Fortune](https://fortune.com)
– [Bloomberg Billionaires Index](https://fortune.com/2023/11/01/billionaires-microsoft-steve-ballmer-bill-gates-satya-nadella-openai/)
– [Forbes](https://www.forbes.com)
