Ballmer Is Richer Than Gates, a First for Microsoft Billionaires

🌈 Abstract

The article discusses the recent change in the wealth rankings between Steve Ballmer and Bill Gates, the co-founder of Microsoft. It highlights how Ballmer has surpassed Gates as the sixth-richest person in the world, primarily due to the rise in Microsoft's stock price and Ballmer's significant ownership of the company's shares. The article also provides insights into the philanthropic activities of Gates and his ex-wife Melinda French Gates, as well as Ballmer's own charitable work.

🙋 Q&A

[01] Steve Ballmer's Wealth Surpassing Bill Gates

1. What is the key reason for Steve Ballmer's wealth surpassing Bill Gates?

• More than 90% of Ballmer's $157.2 billion net worth is in Microsoft shares, which have seen a 21% gain this year.
• Gates, on the other hand, has diversified his $156.7 billion fortune, with about half his wealth held through Cascade Investment, which was created with the proceeds of Microsoft stock sales and dividends.

2. How does Ballmer's philanthropic work compare to Gates'?

• Gates, along with his ex-wife Melinda French Gates and friend Warren Buffett, has funneled billions of dollars of his personal money to build up the $75 billion Gates Foundation, one of the biggest charitable organizations in the world.
• Ballmer, on the other hand, has his own philanthropic work but nowhere on the scale of Gates.

[02] Bill Gates' Philanthropy

1. How has Bill Gates been reducing his fortune through philanthropy?

• Gates, 68, has been slowly reducing his fortune through philanthropy. Along with his ex-wife Melinda French Gates and his friend Warren Buffett, Gates has funneled billions of dollars of his personal money to build up the $75 billion Gates Foundation, one of the biggest charitable organizations in the world.
• Since they started the foundation more than two decades ago, Gates and his former wife have given almost $60 billion from their personal fortunes.
• French Gates recently stepped down as co-chair of the foundation and received $12.5 billion to use for her own charitable purposes.

2. What is the Giving Pledge, and how does it relate to Gates' philanthropic efforts?

• In 2010, Gates, French Gates and Buffett founded the Giving Pledge, an organization that encourages the world's richest people to give away the majority of their fortunes in their lifetimes or their wills.
• Ballmer, 68, who has not signed the Giving Pledge, has his own philanthropic work but nowhere on the scale of Gates.