Former Microsoft CEO Steve Ballmer briefly outpaced the company's co-founder, Bill Gates, in terms of wealth last week, as per Bloomberg's Billionaires Index.
What Happened: Ballmer, who joined Microsoft Corp. (NASDAQ:MSFT) in 1980, saw his wealth exceed that of Gates for a short period. The two are currently estimated to be worth $158 billion each, the Bloomberg index shows. Ballmer served as Microsoft's CEO from 2000 to 2014, succeeding Gates in the role.
Ballmer's extensive wealth has been invested in a variety of ventures, including sports and real estate.
In 2014, he purchased the Los Angeles Clippers NBA team for a record $2 billion. He is also funding the construction of the Intuit Dome, an NBA arena in Inglewood, California, projected to cost $2 billion.
Ballmer has also invested in multiple properties in Washington state, where Microsoft is headquartered. In 2019, he and his wife, Connie Ballmer, bought a home adjacent to their existing residence in Hunts Point for $9.8 million.
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In 2017, Ballmer launched USAFacts.org, a platform aimed at making government data accessible. He disclosed to The New York Times that he had spent over $10 million on the project.
Through their philanthropic efforts, the Ballmers have pledged $425 million to the University of Oregon for a children's mental and behavioral health institute.
Why It Matters: Ballmer's brief surpassing of Gates in wealth is a testament to his diverse investment portfolio and philanthropic efforts.
His investments in sports and real estate, along with his commitment to making government data accessible, showcase his strategic approach to wealth accumulation and distribution.
This event also underscores the dynamic nature of the world's wealthiest individuals' rankings, which can fluctuate based on various factors, including market trends and personal investments.
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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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