New York CNN — For most people, passive income is a bit of extra pocket change that requires minimal effort to earn to supplement a main source of income. For Steve Ballmer, it’s $1 billion.
Ballmer, the sixth richest person in the world, is due to collect that much in dividends from Microsoft in 2024. This comes after the tech giant boosted its quarterly dividend payout to 75 cents a share, or $3 a share annually.
Since Ballmer, the former CEO of Microsoft, owned 333.2 million shares of the company as of 2014 (the last time he filed an ownership disclosure and appears to have adjusted his Microsoft stock), the equivalent of a 4% stake, he would receive just shy of $1 billion in fiscal year 2024. That’s for simply owning the stock — regardless of how it performs.
Ballmer did not respond to a request for comment.
That’s of course assuming Microsoft’s board of directors doesn’t decide to slash dividends. But that doesn’t seem likely. Since the company began paying dividends to shareholders in 2003, the amount has only increased.
R&I ~ MJM
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