Former Chief Executive Officer of Microsoft, Steve Ballmer, has become the fifth richest person in the world, as per the Bloomberg’s Billionaire Index. With an estimated fortune of $117 billion, Steve Ballmer is just one spot behind his former boss Bill Gates, as per the real-time Bloomberg Billionaire Index.
Steve Ballmer is set to receive $1 billion in dividends from Microsoft in 2024. The positive news for Steve comes after the tech giant boosted its quarterly dividend by 75 cents a share, or $3 a share annually.
The tech entrepreneur and investor served as the CEO of Microsoft between 2000 and 2014. He stepped down from the top post making way for current CEO Satya Nadella.
According to a Business Insider report, Ballmer is the single largest individual shareholder in Microsoft. As per his last financial disclosure in 2014, Ballmer held 333.2 million shares of Microsoft, amounting to nearly 4% stake in the company, the report added.
This was the last time he filed an ownership disclosure and seemingly has adjusted his Microsoft stock. He would receive $1 billion as dividend in fiscal year 2024.
Notably, the company started paying dividends to shareholders in 2003. Since then, the amount has only increased, thereby making it clear that Ballmer won’t be the only one raking it in.
As per his income levels, Ballmer will be paying 20% tax on the dividend earnings due to be received in FY23. The total tax on dividend amounts to $200 million.
Besides Steve Ballmer, there are a few other individuals who will be earning a significant amout for owning Microsoft stocks. Warren Buffet’s Berkshire Hathaway will be receiving $6 billion in dividends for the year as he owns the majority of stocks in the companies that pay dividends. These companies are Chevron, Bank of America, Apple, Coca-Cola, Kraft Heinz and American Express.
Steve Ballmer joined Microsoft in 1980 and rose up to the rank of CEO in 2000. He was one of the trusted associates of Micrsosoft co-founder Bill Gates.
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