According to the Economic Times, former Microsoft CEO Steve Ballmer officially surpassed Bill Gates after the closing of the July 1 trading session to become the 6th richest person in the world, marking the first time this billionaire has a net worth larger than the Microsoft co-founder.

Microsoft’s continued surge in shares was the main reason for Ballmer’s assets to increase by more than $3 billion in just one session.

The partnership with OpenAI, one of the biggest beneficiaries of the AI ​​craze in the US stock market, continues to be a growth driver for Microsoft. Since the beginning of the year, Microsoft shares have increased by more than 21%.

According to Bloomberg’s billionaire ranking, more than 90% of Ballmer’s net worth of $157.2 billion is in Microsoft shares. Meanwhile, the Microsoft co-founder has diversified his $156.7 billion fortune. Half of his fortune is held in the investment fund Cascade. He also holds a large stake in waste management company Republic Services.

Bill Gates’ fortune has also been reduced through philanthropy. Together with his ex-wife Melinda French Gates, he has poured nearly $60 billion into the Gates Foundation, one of the world’s largest charities.

Steve Ballmer has not yet committed to large-scale philanthropy like Bill Gates. However, he has made several donations to major universities in the US, including a $425 million fund to the University of Oregon. He also launched USAFacts.org, a nonprofit organization that aims to help people understand the revenue, spending, and social impact of the US government. Ballmer and his wife co-founded the Ballmer Group, a grant-making organization that helps organizations and leaders reshape opportunity and expand economic mobility across the United States.

The Ballmer Group focuses on improving economic mobility for children and families in the United States. They do this by funding individuals and organizations that have demonstrated the ability to provide opportunity and reduce inequality.

Bill Gates founded Microsoft with Paul Allen in 1975 and led it until 2000, when Ballmer, one of the original employees, replaced him as CEO.

Ballmer was one of the company’s first employees. During his first 20 years with Microsoft, Steve Ballmer held key positions in many departments, including operations, operating system development, sales, and customer support.

Steve Ballmer was no coincidence. The two were college friends and co-founders of Microsoft from its early days. Steve Ballmer, with his decisive leadership, sharp strategic vision and fierce dedication, is considered a potential successor to Bill Gates.

Ballmer retired in 2014 and in the same year, he became the company’s largest shareholder. He bought the Los Angeles Clippers basketball team for $2 billion in 2014 and is estimated to be worth $4 billion today.