5 Ways Steve Ballmer Went From Assistant to 8th Richest Person in the World
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Dawn Allcot
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T. Woods
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Steve Ballmer’s journey from Microsoft’s 30th employee to one of the world’s wealthiest individuals is a masterclass in climbing the corporate ladder. Unlike many centibillionaires who built their fortunes as founders, Ballmer earned his place in the $100 billion club through leadership, strategy and a deep understanding of business dynamics. After all, you don’t work your way up from assistant to one of the top 10 richest people without a few solid financial tips in your back pocket.
Keep reading to find some of his most impactful tips for thriving in business and beyond.
Quick Take: What Is Steve Ballmer’s Net Worth?
Ballmer joined Microsoft with a starting salary of $50,000 as the company’s 30th employee. In 2000, he took over as CEO, tripling the company’s annual revenue to almost $78 billion, with a market capitalization of $3.2 trillion.
His current estimated net worth comes in at about $156.6 billion, which puts him in 8th place among the richest people in the world. He is slightly edged out by the likes of Elon Musk, Larry Ellison, Mark Zuckerberg, Jeff Bezos and a few other notable billionaires.
As a top-notch business leader, Ballmer has tips for those who aspire to work their way up the ranks and build wealth, rather than bootstrap their own business venture.
Make Sure You Can See the Forest for the Trees
Microsoft had some stiff competition during Ballmer’s tenure — notably, Apple and Google, who were rapidly growing their cloud-computing services. Ballmer kept Microsoft on top, although some say the company could have innovated faster in his later years.
“If the CEO doesn’t see the playing field, nobody else can,” Ballmer said. “The team may need to see it too, but the CEO really needs to be able to see the entire competitive space.”
Promote from Within and Seek Workers with Passion
Microsoft’s success didn’t stem from Ballmer alone. He knew how to hire the right people. He believed in promoting internal workers 60 to 70% of the time, according to a Wall Street Journal interview.
Think and Rethink — Don’t Be Afraid of Change
“The playing field is always changing,” Ballmer said shortly before his retirement from Microsoft. Ballmer took that philosophy to heart as the owner of the L.A. Clippers, signing superstar players and launching a new brand focused on sports and entertainment teams and venues.
Plan for the Long-Term, Execute in the Short-Term
“Getting the big things right that make all the money, that’s long cycle,” Ballmer said in a Fortune interview. However, you must be able to execute effectively and keep things moving in the short term, too.
Daily planning, with an eye on your bigger goals, can help you build success as an employer or business owner.
Recognize That You Don’t Know What You Don’t Know
Entering new endeavors might feel overwhelming. You may realize you have a lot to learn. But there will always be unknowns that sneak up. Be prepared for this contingency and open your mind to learning new things.
Ballmer, for instance, understood the business side of Microsoft but had to focus on learning more about technology to lead the company. “I’ve grown, and when you grow, you say, ‘Wow, I didn’t know what I didn’t know,'” Balmer said.
Caitlyn Moorhead contributed to the reporting for this article.
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