Steve Ballmer Started Out As An Assistant At Microsoft Making $50,000 A Year. Today He’s Worth $120 Billion

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Aspiring billionaires may study a lesson or two from Steve Ballmer’s profession. After a modest starting, at the moment Ballmer is without doubt one of the 10 richest people in the world.

Again when Ballmer was 24, he dropped out of the MBA program at Stanford to affix a brand new firm his Harvard classmate Invoice Gates had simply shaped. That firm was, in fact, Microsoft. When Ballmer joined Microsoft he was Gates’ assistant making simply $50,000 a 12 months. Naturally, his mother and father have been involved about his determination.

Ballmer had been an A pupil. He was the valedictorian of his highschool class, a magna cum laude graduate of Harvard and an MBA pupil at Stanford. So his determination to desert his MBA program after a 12 months to affix a pc firm in 1980, on the very starting of the non-public pc revolution, was controversial. His mother and father did not even know what software program was or why anybody would want a pc of their residence. He instructed them that if issues did not work out at Microsoft, he’d return to his MBA program. For sure, he by no means wanted to finish his MBA.

Stephen Dunn/Getty Photographs

Ballmer began out as Gates’ right-hand-man, making $50,000 a 12 months. He arrange accounting and human assets for the corporate.

Along with his $50,000 wage (equal to $166k at the moment), Steve acquired 8% fairness in Microsoft plus 10% of any revenue progress he created.

Ballmer’s largest ability was understanding how the best way to handle Gates – who was well-known for not delegating something. When IBM approached Microsoft in 1980 in search of assist in creating an working system for its private computer systems, Ballmer took the assembly with Gates and helped shut the deal that may finally place Microsoft’s software program on each IBM pc offered.

Over time, Ballmer was promoted and given successively fancier job titles till 1998, when Gates requested Ballmer to change into Microsoft’s president. Two years later, Ballmer was named CEO. He led Microsoft by the dot-com bust and the notorious anti-trust battle. He additionally launched the Xbox, bought Skype, and obtained the corporate’s $20 billion enterprise enterprise up and working.

That is to not say he did not make errors—he did not bounce on the smartphone pattern – he really famously scoffed on the iPhone. He then went out and bought Nokia for $7 billion in 2013 – lengthy after Apple and Google had dominated the market with iPhones and Android units.

In 2014, after 34 years at Microsoft, Ballmer stepped down as CEO. By this time he owned round 4% of the corporate. As of this writing, because of that 4% stake and different investments, Steve Ballmer has a net worth of…

$120 billion

That is sufficient to make him eighth richest individual on the planet.

Ballmer achieved one other certainly one of his life’s goals in 2014 when he purchased the Los Angeles Clippers NBA workforce for $2 billion. It was the third workforce he’d tried to amass. He misplaced out on the Seattle Sonics in 2008 and the Sacramento Kings in 2012.

As of late, you could find Ballmer on the sidelines of Clippers video games with an enormous smile on his face. Subsequent up for Ballmer is creating a brand new residence for his Los Angeles Clippers. He purchased the Discussion board in 2020 for $400 million and has plans to construct a brand new, greater than $1 billion residence for his NBA workforce.

All in all, not a foul consequence for a man who began as an assistant making $50k!


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