He has all the money in the world, but the NBA’s richest owner is living the dream as he is set to receive another $1billion for doing precisely nothing
Steve Ballmer is the richest owner in the NBA (Image: Getty Images)
Los Angeles Clippers’ owner and former Microsoft CEO Steve Ballmer is set to earn another $1billion (£790m) for doing nothing.
Ballmer is, by far, the wealthiest owner in the NBA, with a purported net worth understood to be an extraordinary $122bn (£96.5bn). To put this into further context, the owner with the next highest bank account is Cleveland Cavaliers owner Dan Gilbert, who is worth $25bn (£19.78bn).
The 68-year-old made his billions thanks to his 34-year tenure at Microsoft where he was hired as a business manager, becoming just the 30th employee in the company’s history.
While Ballmer retired from the company in 2014 to venture into the sports world with the Clippers, the Detroit native is still banking colossal numbers due to his time with the technology corporation.
Ranked as the sixth richest person in the world, according to Forbes, Ballmer’s wallet is set to get a whole lot of fatter as he’s due to collect $1bn in dividends from Microsoft this year.
With a net worth of $122billion, Steve Ballmer is the richest owner in the NBA (Image: Getty Images)
The huge payout comes after the tech giants boosted their quarterly dividend payout to 75 cents a share, or $3 a share annually.
Thanks to Ballmer having owned 333.2 million shares of the company as of 2014 (the last time he had filed an ownership disclosure and appears to have adjusted his Microsoft stock), which is the equivalent of a 4% stake, the businessman is set to receive a fee just shy of $1bn in the fiscal year of 2024.
The 68-year-old has owned the Los Angeles Clippers since 2014 (Image: Getty Images)
Ballmer will pocket the extra billion simply due to him owning the stock, with his fee to remain that gigantic regardless of how it performs on the stock market. His payout, however, will be subject to the standard 20% tax that is placed upon dividends for individuals who earn a taxable income of $500,000 a year or more.
According to ProPublica, Ballmer reported $656m (£519m) in income to the Internal Revenue Service in 2018 with a further $200m (£158m) to come out of his pocket due to the tax rule.
News
UNTEACHABLE ‘I’m a dog,’ claims Angel Reese after WNBA star leads Chicago Sky to comeback win against Caitlin Clark’s Indiana Fever
ANGEL Reese enjoyed a career game on Sunday as the Chicago Sky narrowly defeated the Indiana Fever. The rookie forward, 22, was instrumental in Chicago’s much-needed win. Chicago Sky rookie Angel Reese enjoyed a career game on SundayCredit: WNBA on ESPN Reese…
YOUNG LOVE Who is college basketball star Reed Sheppard’s girlfriend, Brailey Dizney?
The pair have shared glimpses into their relationship on social media REED Sheppard is a hot topic for the 2024 NBA Draft. Fans of the college basketball star also want to know more about his relationship with his girlfriend, Brailey Dizney. (L-R) Brailey Dizney…
FATHERLY LOVE LeBron James plans for NBA Draft revealed with son Bronny set to be snubbed from first round
LeBron and Bronny, however, won’t be traveling to NYC for the draft LEBRON James is hosting an NBA draft party – and is dreaming of toasting the next stage of his son Bronny’s basketball career. The USC star, who suffered…
Miss Universe Amelia Vega with Boston Celtics player Al Horford Enjoy the Happy Family Life with Their Five Adorable Kids
Miss Universe Amelia Vega and Boston Celtics’ star Al Horford Enjoy a Happy Family Life with Their Five Adorable Children. Amelia Vega, the stunning Miss Universe of 2003, and her husband Al Horford, the renowned Boston Celtics star, are known…
Shocking Caitlin Clark-Angel Reese Comparison Blows Up Online After Sky-Fever
Caitlin Clark will always be known more as an offense-first player, which also makes the fact that the Indiana Fever star rookie had two blocks during her team’s 91-83 at home over Angel Reese and the Chicago Sky on Sunday surprising. Even more shocking is the information…
Caitlin Clark Sends Classy Message to Angel Reese, Fanbase After Hard Foul
One of the things that WNBA fans love most about Indiana Fever rookie Caitlin Clark is how well she speaks when eyes are on her. Clark always seems like she knows exactly what to say in any situation, and keeps it classy at all times. While…
End of content
No more pages to load