Steve Ballmer set to earn $1 billion in dividends from Microsoft shares
Former Microsoft CEO Steve Ballmer is on pace to earn $1 billion in dividends annually from his massive stake in the software company.
As described in a post by Business Insider, Ballmer owns about 333 million shares of Microsoft, which is about 4.4% of the total outstanding shares.
Microsoft announced on Tuesday that it will increase its quarterly dividend by 11%, which means Ballmer will receive about $0.62 per share every three months.
That adds up to about $825 million per year, and if Microsoft continues to raise its dividend, Ballmer could reach the $1 billion mark in the next few years.
Ballmer was the CEO of Microsoft from 2000 to 2014, and he is currently the owner of the Los Angeles Clippers NBA team.
He is also the founder of USAFacts, a non-profit organization that provides data and analysis on government spending and outcomes.
Ballmer is the sixth richest person in the world, with a net worth of $128 billion, according to Bloomberg.
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