Ex-Microsoft CEO Steve Ballmer to get $1 bn in annual dividends
Ballmer who owns around four per cent of the company, equivalent to 333.2 million shares, saw his stake rise to around ₹130 billion this year due to a 56 per cent spike in Microsoft’s stock price
Steve Ballmer, the former chief executive officer of Microsoft, is set to receive a whopping $1 billion in annual dividends from the tech company in 2024.
Ballmer who owns around four per cent of the company, equivalent to 333.2 million shares, saw his stake rise to around ₹130 billion this year due to a 56 per cent spike in Microsoft’s stock price.
The rise in stake has led to a $44 billion increase in his wealth in 2023.
According to Bloomberg’s Billionaire Index, Ballmer with a fortune of $117 billion is the fifth richest person in the world, just one spot behind former boss Bill Gates.
Ballmer, who joined Microsoft in 1980, served as the CEO of Microsoft between 2000 to 2014 and stepped down to make way for current CEO Satya Nadella.
Microsoft began paying dividends to shareholders in 2003. Ballmer isn’t the only former employee who would get the benefits.
Microsoft, in 2023, paid $2.79 per share in dividends, and the amount translated to $930 million for Ballmer in payments.
The company has increased its dividend by 10 per cent to $3 per share for 2024, which means Ballmer is set to receive a payment of $999.6 million.
The American businessman and investor, however, is supposed to pay 20 per cent tax on the dividend earnings with the total tax amounting to around $200 million.
