After selling almost 8 million shares, Bill Gates, the founder of Microsoft, is no longer the computer giant’s biggest shareholder. Gates, who has retired in 2000 as CEO and remained as chairman from the day of his retirement until 2008, is passing the torch to his successor as being the largest shareholder of the company.
Passing on the Torch
Gates is passing on the torch to Microsoft’s former CEO Steve Ballmer in being the largest individual shareholder of the company just a few days ago. Ballmer now has surpassed the number of shares of Microsoft’s founder with 333 million shares compared to Gates’ 330 million.
- Focusing on Bill & Melinda Gates Foundation
Gates is now focusing on running his and his wife’s foundation. The foundation has already fought hunger using Gates’ personal fortune and donations from wealthy individuals amounting to more than $28 billion since its inception 13 years ago.
The news was not new to most consumers since Gates has been known to not give too much consideration in being the wealthiest man in the world or being the largest individual shareholder of the top tech company in the globe. The former Microsoft CEO was even quoted saying he hated the attention given to him due to his extreme wealth.
Gates has been known to put his efforts and personal fortune in helping the company provide valuable products and fighting poverty through his foundation, the Bill and Melinda Gates Foundation, which he and his wife founded in 1997.
- Steve Ballmer
Ballmer has been one of the first employees of Microsoft, who has been the CEO of the company from 2000 to 2014. His performance was highly appreciated not only by Microsoft itself but also by the consumers who think that Ballmer’s strategies made Microsoft survive in the rough tech industry.
Succeeded by Satya Nadella, Ballmer retired and is focusing on the development of Microsoft’s products. He stated that the company should have put together its software and hardware soon enough to compete in the market. Thus, the former CEO is now dedicating much of his time helping develop the products that could topple Apple and Google over.
Steve Ballmer is not only the new largest individual shareholder of Microsoft but is also the richest person in the world. After retiring on February 2014 as chief executive officer of Microsoft, Ballmer, who started out as Microsoft employee No. 30 in 1980, became the company’s technology adviser. Aiming to focus on the company’s product development, Ballmer is devoting more of his time helping the company develop its products, which is aiming to put their software and hardware together to compete with other tech giants like Google and Apple.
The current CEO of Microsoft is also aiming to reignite the growth of the company by placing former political operative Mark Penn as the new chief strategy officer. Penn, along with Ballmer, is planning on launching new strategies that can make Microsoft solidify its hold as a top tech company, competing with their rivals, Google, Samsung and Apple, which have been roaring to be the top of the tech business jungle.