Steven Anthony Ballmer: Steve Ballmer, the world's sixth richest person, is going to receive a dividend of around one billion dollars from the world's leading IT company Microsoft in 2024. Microsoft has seen improvement in its financial performance, after which the company is going to pay a dividend of 75 cents per share for one quarter, which comes to $3 per share annually. As of today, Ballmer has no contribution in Microsoft, his only contribution is that he has crores of shares of Microsoft.
Former Microsoft CEO Steve Ballmer owns $1 billion of Microsoft's $333.2 billion shares, which is equivalent to a 4 percent stake in the company. The last time Steve Ballmer disclosed his shares in the company was in 2014. Based on Steve Ballmer's 4 percent stake in Microsoft, he is going to get a billion dollar dividend in the 2024 financial year. He will get this dividend only because he holds 4 percent stake.
Steve Ballmer will get this dividend only if Microsoft's board of directors does not take any decision to cut the dividend. However, the chances of this happening are very less. Because since 2003, Microsoft's dividend payment has seen a continuous increase. However, after receiving a billion dollar dividend, they will have to pay tax of $200 million at the rate of 20 percent.
Steve Ballmer was the CEO of Microsoft from 2000 to 2014. Currently, he is the co-founder of Ballmer Group, which is an investment company related to charity. According to the Bloomberg Billionaires Index as of November 2023, he is the sixth richest person in the world with a personal wealth of $122 billion.
Microsoft founder Bill Gates hired Steve Ballmer in 1980. In January 2000, he became the CEO of Microsoft in place of Gates. After his retirement in February 2014, Satya Nadella became the CEO of Microsoft.
Also read
Get more latest business news updates