Microsoft shares reached a new record high this year, with a 21% increase due to the company’s partnership with OpenAI, making it a major beneficiary of the artificial intelligence rally in the US stock market. As a result, former CEO Steve Ballmer has surpassed Bill Gates to become the sixth-richest person in the world.
This milestone marks the first time that Ballmer has been wealthier than Gates, who founded Microsoft in 1975 and led the company until 2000. Since then, Ballmer has been slowly reducing his fortune through his charitable endeavors, becoming Microsoft’s largest shareholder in 2014. Meanwhile, Gates has diversified his $156.7 billion fortune by investing in various companies and holding a significant stake in waste management company Republic Services Inc.
Gates is known for his philanthropic efforts and co-founded the Gates Foundation with his ex-wife Melinda French Gates and Warren Buffett. Since its inception, the foundation has donated nearly $60 billion from their personal fortunes towards various causes such as global health initiatives and education programs. Recently, Melinda French Gates stepped down as co-chair of the foundation and received $12.5 billion for her own charitable endeavors.
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