One of the world’s most exclusive clubs just got a new member, with a second aspirant knocking on the door. Steve Ballmer, the former chief executive officer of Microsoft Corp., has a net worth of more than $100 billion, making him the ninth person in the world to reach that lofty plateau. Ballmer, 65, who stepped down as Microsoft’s CEO in 2014 and now owns the NBA’s Los Angeles Clippers, has seen his wealth grow by $20.1 billion this year, while Ellison has added $18.9 billion. A rally in tech shares has fueled the latest surge in wealth, with seven of those above the $100 billion mark deriving their fortunes from technology companies. While the stock rally has boosted the fortunes of the world’s richest, it’s also renewed scrutiny of wealth inequality and taxes.

Source: Mint July 08, 2021 05:26 UTC