Former CEO of Microsoft, owner of the Los Angeles Clippers, philanthropist, businessman and investor, Steve Ballmer is a famous man in many sectors. It also helps that he is one of the richest people in the world.
Steve Ballmer has not only proven over the years that he is brilliant, but he has also shown that he is innovative. Although known for keeping a relatively low profile, his level of success is what every businessman craves. Here is more information on the former CEO of Microsoft.
Biography of Steve Ballmer
Steve Ballmer was born in Detroit on March 24, 1956, to Ford Motor Company executive Henry Ballmer and Beatrice Dworkin. He lived a privileged young life, attending schools like the International School of Brussels. He was a smart student, graduating from the Valedictorian class at Detroit Country Day School, a private school in Michigan, and was also a National Merit Scholar. Ballmer went on to earn a bachelor’s degree in applied mathematics and economics from Harvard with high honors.
Apart from his academic genius, Steve Ballmer was a member of the Fox Club, the last club of Harvard University. He was also manager of the Harvard Crimson football team and also worked for the Harvard Crimson newspaper and the Harvard Advocate. For two years, he was associate product manager at Procter & Gamble. In 1980, he joined Microsoft as a sales manager.
His massive fortune began when he joined Microsoft on June 11, 1980, becoming the 30th Microsoft employee and first business executive to be hired by CEO Bill Gates. He was offered a percentage ownership of the company and Ballmer held 8% in the eventual incorporation of the company in 1981. Ballmer then sold 39.3 million shares of his Microsoft stock in 2003, earning him a fortune of 955 million dollars.
During his 20 years of service at Microsoft, Steve Ballmer held several positions with various accomplishments. He led divisions such as operations, sales and support and operating system development. He became senior vice president of sales and support in February 1992. One of Microsoft’s flagship projects, .NET Framework, was led by Steve Ballmer. From July 1998 to February 2001, he was chairman of Microsoft and second in command to chairman and CEO Bill Gates.
When Steve Ballmer became CEO in 2000, he oversaw what has been described as a “radical shift in the company’s first computer heritage.” He has played a major role in the company’s connected computing strategy, with acquisitions like Skype, a move that has been praised by several publications.
Under his leadership, Microsoft’s financial success improved. The company’s revenues have grown from $25 billion to $70 billion, and its gross profit has doubled that of Google or IBM.
His diversification of the Microsoft product line proved to be a masterstroke; The addition of the Xbox entertainment and devices division prevented Sony’s Playstation and other game consoles from eroding Windows’ market share.
On August 23, 2013, it was announced that he would be retiring from the company. On February 4, 2014, after numerous candidates were considered as replacements, Satya Nadella succeeded Steve Ballmer as CEO of Microsoft.
Net value
Away from technology, Steve Ballmer has made several attempts to buy a sports team. He took on the Oklahoma City Thunder in 2008 and the Sacramento Kings in 2012, but both attempts fell through. However, after the Donald Sterling scandal in May 2014, he became the highest bidder for the $2 billion Los Angeles Clippers. On August 12, 2014, Steve Ballmer became the official owner of the Los Angeles Clippers.
Steve Ballmer is currently considered worth $42.7 billion. After Roberto Goizueta, he became the second person in US history to become a billionaire entirely from stock options received as an employee of a corporation.
