Already among the world’s richest people, ex-Microsoft CEO Steve Ballmer is now set to receive nearly $1 billion (approx. ?8300 crore) in dividends from his former employer, ‘for doing nothing,’ according to CNN.
Microsoft’s 30th employee in history who joined the company in June 1980, the 67-year-old held 333.2 million (33.32 crore) shares of the tech giant, as of 2014. This is because of Microsoft’s decision to increase its quarterly dividend payout to 75 cents for each share, amounting to $3 per share annually. In 2024, therefore, Ballmer, whose 333.2 million shares translate to a 4% equity, will get just shy of $1 billion (999.6 million or 99.96 crore; 1 billion=100 crore) only for his ownership, regardless of how the stock performs. The company began paying dividends to its shareholders in 2003. Since then, the amount has only gone up.