Ballmer, Steve — Los Angeles Clippers | Los Angeles Business Journal

Ballmer, Steve — Los Angeles Clippers

Owner

Los Angeles Clippers

THE LATEST: Ballmer made a $400 million cash purchase of the Forum in Inglewood in March, which will allow him to work toward construction of a new 18,000-seat arena in the city for his Los Angeles Clippers. The team’s lease at Staples Center ends in 2024. The Ballmer Group, founded by Steve and Connie Ballmer, have pledged over $40 million to Covid-19 relief efforts in Los Angeles, Seattle and Michigan.

BACKGROUND: The former Microsoft executive purchased the Clippers for $2 billion in 2014, the same year he stepped down as the tech company’s CEO. He left Stanford University’s MBA program at age 24 in 1980 to join former Harvard classmate Bill Gates’ Microsoft venture. Balmer started as assistant to the president (Gates), making $50,000 with equity and growth options. Forbes estimates Baller’s current worth at $60 billion, including a 4% share of Microsoft.

YEARS ON THE LA500: 5

Return to the 2020 edition of the LA500.

Reader Poll

READER POLL: Are you eating out more now that restaurants are again allowed to offer outdoor dining?

Reader Poll

READER POLL: Are you eating out more now that restaurants are again allowed to offer outdoor dining?