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Steve Ballmer is set to make $1 billion a year for doing nothing | CNN Business
Submitted 10 months ago by iraq_lobster@slrpnk.net to aboringdystopia@lemmy.world
https://edition.cnn.com/business/investing/steve-ballmer-one-billion-dividends/index.html
Comments
chalupapocalypse@lemmy.world 10 months ago
friend_of_satan@lemmy.world 10 months ago
One of the only things he was right about.
ThePowerOfGeek@lemmy.world 10 months ago
YEEEEAAAAAAARRERRGGGGGGGHHHHH!!
FrankTheHealer@lemmy.world 10 months ago
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.
Hoomod@lemmy.world 10 months ago
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
Gloria@sh.itjust.works 10 months ago
But giving someone at the bare minimum support from the state is apparently setting the wrong incentive. They say free money for doing nothing is communism and makes people lazy while giving a billinaire billlions for doing nothing is late capitalist doublespeak. I hope he suffocates on it.
S_204@lemm.ee 10 months ago
This is free money in the way that it’s a return on his investment. This has nothing to do with the state other than they will collect tax revenue on this distribution annually.
This should be a motivational post to get people investing. heck of a retirement payout this guy’s getting.
ZombieTheZombieCat@lemm.ee 10 months ago
This should be a motivational post to get people investing.
Totally, because people who are struggling just love to take risks with their money.
phoneymouse@lemmy.world 10 months ago
Describes most billionaires actually
Twentytwodividedby7@lemmy.world 10 months ago
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.
Kiwi@lemmy.world 10 months ago
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
escaped_cruzader@lemmy.world 10 months ago
is a mental illness that can only be cured by a guillotine
Do you prescribe this medicine to all mental illness?
tastysnacks@programming.dev 10 months ago
Billionaires don’t want to work anymore.
Strawberry@lemmy.blahaj.zone 10 months ago
Somebody should’ve just told Marx about the difference between salary and capital ownership!
Mango@lemmy.world 10 months ago
Stocks shouldn’t exist. Fight me.
Twentytwodividedby7@lemmy.world 10 months ago
No need, they exist and you’ve already lost…
Illuminostro@lemmy.world 10 months ago
Seriously, they should be taxed when stockpiled and sitting idle. 1% per stock, per current price, per quarter.
FlyingSquid@lemmy.world 10 months ago
So you’re saying he’ll be making a billion dollars a year for doing nothing?
TheDoctorDonna@lemmy.world 10 months ago
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.
Djtecha@lemm.ee 10 months ago
Wait… But then the stock would be virtually worthless…
aniki@lemm.ee 10 months ago
And?
ramble81@lemm.ee 10 months ago
Isn’t that the “doing nothing” part of the title?
Bleach7297@lemmy.ca 10 months ago
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, a process ultimately known as enshittification.
Adam Smith was a smart guy, but he never saw Milton Friedman coming.
crsu@lemmy.world 10 months ago
it goes it goes it goes
GUILLOTINE
ChickenLadyLovesLife@lemmy.world 10 months ago
DECAPITATORS DECAPITATORS DECAPITATORS!
Emerald@lemmy.world 10 months ago
No no no just make him work on the linux kernel
Pat_Riot@lemmy.today 10 months ago
Leave Linux alone. Send that fucker to build iPads.
AngelJamie@lemmy.blahaj.zone 10 months ago
YUH!
DaBPunkt@lemmy.world 10 months ago
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!
towerful@programming.dev 10 months ago
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.
ddnomad@infosec.pub 10 months ago
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lol
explodicle@local106.com 10 months ago
The CEO of Brave is a would-be Ballmer; he uses his wealth to fight against gay rights.
lledrtx@lemmy.world 10 months ago
It doesn’t say anything about what he is doing now? Seems like he was sorry about previous donations and wanted to fix it? Is he still up to the same shit?
Whelks_chance@lemmy.world 10 months ago
Stop protecting yourself and let us protect you.
PunnyName@lemmy.world 10 months ago
Time for the guillotine.
sturmblast@lemmy.world 10 months ago
Ballmer further ruined Microsoft and gets rewarded. Gotta love capitalism
m13@lemmy.world 10 months ago
Capitalism literally rewards and enforces narcissism, sociopathy, exploitation, greed, destruction, and violence.
Cool system guys.
carl_dungeon@lemmy.world 10 months ago
He’s always been a tool
explodicle@local106.com 10 months ago
The guy was just Bill Gates’ roommate. He’s white privilege personified.
crsu@lemmy.world 10 months ago
Did he visit Epstein’s island too?
Illuminostro@lemmy.world 10 months ago
Well, he’s an excellent accountant. The kind of you don’t want as a CEO.
YoorWeb@lemmy.world 10 months ago
Developers, developers, developers, developers, developers, developers, developers…
treadful@lemmy.zip 10 months ago
That speech was worth $100m/yr, max
Illuminostro@lemmy.world 10 months ago
Cuh, cuh, cuh, cuh, cuh, cuh, cocaine!
hperrin@lemmy.world 10 months ago
s/make/steal from Microsoft’s workers/
rob_t_firefly@lemmy.world 10 months ago
Well, to be fair, the man is very good at nothing.
jaschen@lemmynsfw.com 10 months ago
Um… This article is clickbait. It’s like If I invested super early at AAPL(Apple) and now have a billion dollars in Apple shares. Sure, I’m a billionaire, it doesn’t mean I didn’t do anything to get it.
Stupid article.
taladar@sh.itjust.works 10 months ago
Actually that pretty much sounds like you didn’t really do anything to get it and just profited off the Apple employees’ hard work.
throwwyacc@lemmy.world 10 months ago
Ah yes the classic “providing capital doesn’t count” How do you imagine businesses should get initial funding if not via investors? And how much should a person/corporation be allowed to profit from that initial funding?
JimVanDeventer@lemmy.world 10 months ago
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.
Reddfugee42@lemmy.world 10 months ago
This is perfectly fine, but an extreme wealth tax would be wrong.
LemmyIsFantastic@lemmy.world 10 months ago
I am shocked that an OG Silicon Valley business owner and right hand man of the creator of the most popular software on the planet and still taking his cut off the shares. SHOCKED!
AllonzeeLV@lemmy.world 10 months ago
Labor keeps the world running. Labor makes the discoveries. Labor invents.
Capitalism just holds the resources hostage from labor in exchange for almost everything.
You swoon over con-men.
HybridSarcasm@lemmy.world 10 months ago
I’m not fully abreast of Ballmer’s dealing, but I know he’s spending a shit ton on pro basketball:
One can judge the utility of such ventures, but it’s undeniable that capital is being used (not held hostage) and jobs being created. It takes a lot of people to build a stadium.
aniki@lemm.ee 10 months ago
Which software was that again? Can you please elaborate on Steve Balmer’s accomplishments.
BoastfulDaedra@lemmynsfw.com 10 months ago
If it keeps him doing nothing, it might actually be worth it…
TheDeepState@lemmy.world 10 months ago
Go Steve! It’s your payday!
Algaroth@lemmy.world 10 months ago
You gonna party like it’s your payday
aniki@lemm.ee 10 months ago
He also fucking sucked at his job. Isn’t that wonderful?
zacher_glachl@lemmy.world 10 months ago
well played.
explodicle@local106.com 10 months ago
Yeah great gob being the college roommate of a future monopolist, we all should have picked parents like his.
fosforus@sopuli.xyz 10 months ago
That’s for simply owning the stock — regardless of how it performs.
Is that correct? This is dividends we’re talking about.
LodeMike@lemmy.today 7 months ago
That’s a lot of cocaine.
astral_avocado@lemm.ee 10 months ago
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?
Djtecha@lemm.ee 10 months ago
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.
Sasha@lemmy.blahaj.zone 10 months ago
That’s a great salary even if divided between 10,000 people.
Fuck billionaires, leeches
lemann@lemmy.dbzer0.com 10 months ago
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
snekerpimp@lemmy.world 10 months ago
It’s a mental disorder, similar to hoarding, and they all need psychological help.
Sasha@lemmy.blahaj.zone 10 months ago
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.
danc4498@lemmy.world 10 months ago
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.
Sasha@lemmy.blahaj.zone 10 months ago
Oh honey, that’s so much more conservative than I’d tax. 100% over a million, easy.
They don’t deserve huge bonuses so I’m not interested in letting them keep anything that insane. There should be a cap on income based upon the median wage or something IMO.
overcast5348@lemmy.world 10 months ago
50% for 20 million sounds insane to me. I’d be clamoring for 75% or more. I’m in Ontario and people making something like 250000 CAD already have a marginal rate above 50% IIRC. Before anyone calls me a lazy commie, my marginal rate is in the mid 40s already, and I’m happy to do my part.
Whelks_chance@lemmy.world 10 months ago
The UK tax bands will blow your mind.
Like 40% for anything over 50k. Which I’m fine with btw.
www.gov.uk/income-tax-rates
Tathas@programming.dev 10 months ago
We used to have that here in the US.