Steve Ballmer is set to make $1 billion a year for doing nothing | CNN Business
Steve Ballmer is set to make $1 billion a year for doing nothing | CNN Business
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.
That's a great salary even if divided between 10,000 people.
Fuck billionaires, leeches
That's 100k for those in the back. Really puts this greed into perspective, there is absolutely no reason for any individual to be hoarding this much money. For many people that would literally be life changing
It’s a mental disorder, similar to hoarding, and they all need psychological help.
If you want to stretch it a little further, this would be enough to very comfortably support just shy of 74,000 students in Australia per year.
That's roughly an extra third of what our government offers right now.
This is exactly why you do a progressive tax rate that charges a huge percent (50+) for every penny earned over 20 million.
They can still get these massive bonuses, but get would be better off putting that money into wages that aren’t taxed so much.
The UK tax bands will blow your mind.
Like 40% for anything over 50k. Which I'm fine with btw.
Anybody else think there should be a money limit? Like at a certain point you get a message: Congratulations, you completed capitalism. Now every additional cent you make is going to be taxed at 100%
Oh absolutely, if we aren't replacing capitalism we need to install hard limits.
Billionaires gonna billionaire.
"Hustle and grind bro. Get that bread"
It doesn't matter if you hustle and bring every single day for the rest of your life, you will never have a billion dollars.
Save that $5 a day and put it in a mutual fund and in 10 years you'll make nothing because inflation will eat any growth you might have had
Describes most billionaires actually
ITT: a bunch of people who don't understand how dividends work on stock ownership. He's not collecting a salary, Microsoft is not actively paying him, he's just an investor who owns a shit ton of stock.
Or, a bunch of people who are over the inequality in our world regardless of how the person comes by the money.
I don’t care if Microsoft pays him a salary or not, hoarding that much wealth is a mental illness that can only be cured by a guillotine
Billionaires don't want to work anymore.
Somebody should've just told Marx about the difference between salary and capital ownership!
So you're saying he'll be making a billion dollars a year for doing nothing?
Income is income, and billionaires already have too much of it. Not everyone enjoys taking it rough from corporate America.
The only people who should have stake in a company are those who work there.
Wait... But then the stock would be virtually worthless...
Isn’t that the “doing nothing” part of the title?
And? Details are irrelevant. I still want him to choke and die.
The stock market is perverse.
It is supposed to be a tool that allows people to support promising ventures that they believe in, and allows them to profit from the venture if it is successful.
Instead it's a race to the bottom, where companies have a feduciary duty to their investors to make them as much profit as possible. This is the ultimate driver of enshittification.
Adam Smith was a smart guy, but he never saw Milton Friedman coming.
it goes it goes it goes
GUILLOTINE
DECAPITATORS DECAPITATORS DECAPITATORS!
No no no just make him work on the linux kernel
Leave Linux alone. Send that fucker to build iPads.
To put it into perspective: If you would earn 5000$ every day (not per month, per day) and you had started with that when Columbus discovered America, you still had not 1 billion!
If you made $61k per day for a 45 year career, you would make ~$1bn.
So, that's like a decent yearly salary PER DAY, from the age of 20 to the age of 65.If $61k per year can support someone for a year, that career would support 365 people for 45 years.
And that's just $1bn over a full career.If you earned $1bn per year, that could support 16,425 per year on a $61k salary. Thats a town of people.
Ballmer further ruined Microsoft and gets rewarded. Gotta love capitalism
Capitalism literally rewards and enforces narcissism, sociopathy, exploitation, greed, destruction, and violence.
Cool system guys.
Time for the guillotine.
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lol
The CEO of Brave is a would-be Ballmer; he uses his wealth to fight against gay rights.
Stop protecting yourself and let us protect you.
He’s always been a tool
The guy was just Bill Gates' roommate. He's white privilege personified.
Did he visit Epstein's island too?
Developers, developers, developers, developers, developers, developers, developers...
That speech was worth $100m/yr, max
s/make/steal from Microsoft’s workers/
Well, to be fair, the man is very good at nothing.
Didn't this guy fuck up a bunch of things at Microsoft? Even as a failure, you can be billionaire.
He's the reason Linux is so dominant in the server space and has no signs of slowing down.
He won’t be doing nothing; he’ll be doing tons of cocaine. He actually has enough money now to attach 3 or 4 more functioning noses to his face.
Go Steve! It’s your payday!
You gonna party like it's your payday
He also fucking sucked at his job. Isn't that wonderful?
well played.
Yeah great job being the college roommate of a future monopolist, we all should have picked parents like his.
So much for the excuse “honey, I’m working late again”
Apparently no one realizes this but if we want to stop this particular type of income we basically have to destroy how everyone's long term and retirement savings work. He's getting it from his share's dividend income.
So at what amount do we guillotine someone? When they have accrued 1 million and are safely withdrawing 90k a year from their stocks/dividends? Are they allowed to do nothing and get income?
See this is the problem here. We have these insane examples of wealth that should really have been fixed with a 100% tax rate over something reasonable. But since we didn't do that we have the other extremes, calling for tearing down other streams of income or demanding you should work the rest of your life for a wage vs investments. Neither of these positions offer much value here. Really we should be pushing for voters to turn out and create a reasonable tax rate. Take WA for example and how they created a 7% tax on over 250k annual for capital gains. Could that be more? Maybe. Could it be a sliding scale up? Sadly no due to the state constitution atm. As an engineer there I might be in a position that pays that, which I'm OK with, but no way I could buy a house here or live comfortably without working if there's no investment income allowed. And I don't really want to spend the rest of my life working for shitty tech companies.