Steve Ballmer, the sixth richest man globally, is scheduled to pocket $1 billion in dividends from Microsoft in 2024.
With Microsoft’s quarterly dividend payouts being hiked 75 cents a share or $3 per share yearly.
Regardless of the success of the stock, Steve Ballmer holds 333 million Microsoft shares, would receive little less than $1 billion in the fiscal year 2024 for only possessing the shares.
It seems improbable that Microsoft board of directors will decide not to reduce payouts.
The sum has only increased since Microsoft Corporation started giving dividend to shareholders in 2003.
Ballmer’s Microsoft earnings will be taxed at the rate of 20% for individuals with taxable incomes of at least $500,000.
This means that he will have to pay about $200 million in taxes on his earnings.
