Steve Ballmer is under investigation and has found himself at the center of attention in the ongoing offseason. Ballmer is the owner of the Los Angeles Clippers and has played a major role in the team’s ability to acquire several stars over the years.
Reports emerged that Ballmer had attempted to bypass the league’s cap space and apron rules, prompting the investigation into the billionaire entrepreneur and the Clippers’ front office.
That said, much of the basketball community may be unaware of Ballmer’s vast financial success and may be curious about any potential setbacks caused by recent events.
How Much Is Steve Ballmer’s Net Worth?
Forbes reports that the Clippers’ owner has an estimated net worth of more than $150 billion, making him the wealthiest owner in the league.
Ballmer acquired the Clippers in 2014 for $2 billion, one of the most expensive purchases of an NBA team. The deal was completed after receiving clearance from both the NBA and a California court, ushering in a new era for the franchise once run by Donald Sterling, who was forced out after a scandal.
Ballmer previously served as Microsoft’s CEO, taking over from Bill Gates. Ballmer retired from the position in 2014 and was replaced by Satya Nadella. His contributions were significant: under his leadership, Microsoft tripled its sales and doubled its profits, earning him vast wealth. Ballmer was also a director for Accenture from 2001 to 2006.
With his wealth, Ballmer launched the Ballmer Group, a philanthropic investment company. Its successful investments have further increased his net worth and elevated his position among the world’s wealthiest individuals.
Ballmer has already spent heavily as the Clippers’ owner. Not only has he paid stars such as Kawhi Leonard millions of dollars, but he also led the construction of a new arena for the team, the $2 billion Intuit Dome.
Why Are Steve Ballmer and the Clippers Under Investigation?
Ballmer and the Clippers have come under scrutiny over possible violations of the NBA’s salary cap rules. The Athletic’s Pablo Torre reported the team allegedly skirted restrictions by funneling $28 million to Kawhi Leonard through a “no-show job” endorsement deal. The arrangement was said to involve Aspiration, a now-bankrupt green banking startup partly backed by Ballmer. The deal reportedly came after Leonard inked his maximum contract and was viewed as a potential loophole around cap rules. The NBA has since confirmed it is reviewing the case.
Ballmer has rejected claims of direct involvement in the deal, saying he merely connected Leonard to Aspiration and did not know the specifics of the contract.
