Steve Ballmer, former CEO of American tech giant Microsoft, has overtaken its founder Bill Gates as the world’s sixth richest man.
From 2000 to 2014, Ballmer led Microsoft before becoming its leading shareholder that year. His fortune now stands at an estimated $157.2 billion, according to financial news agency Bloomberg, placing him in sixth position on the global rich list.
This ranking is credited largely to a sharp increase in Microsoft’s shares, buoyed by the stock market success of artificial intelligence. This year alone, the share price has risen by 21%.
Ballmer’s stake in Microsoft constitutes 90% of his wealth, while Bill Gates' investment portfolio is more diverse.
Gates, who co-founded Microsoft with Paul Allen in 1975, has a fortune estimated at $156.7 billion.
In recent years, Gates has donated several billion dollars to charities, particularly the Gates Foundation, one of the world’s leading charitable organisations.
Ballmer also has a foundation, albeit smaller in scale than that of the Microsoft founder.
