Steve Ballmer passed Bill Gates to become the sixth-richest person in the world. This marks the first time that the former chief executive officer of Microsoft Corp. has been wealthier than the company’s co-founder. This comes as Microsoft shares rose to a fresh record. The stock has gained 21% this year owing to its partnership with OpenAI which made it one of the biggest beneficiaries of the artificial intelligence rally in the US stock market.

More than 90% of Steve Ballmer’s $157.2 billion net worth is in Microsoft shares.

Bill Gates founded Microsoft with his friend Paul Allen in 1975 and led it until 2000. At the time, Steve Ballmer — one of the company’s earliest employees — replaced him as CEO. He retired in 2014 and became Microsoft’s largest shareholder that same year.

A look at Steve Ballmer’s wealth in comparison to Bill Gates

Over 90% of Steve Ballmer’s $157.2 billion net worth is in Microsoft shares, as per the Bloomberg Billionaires Index. Bill Gates has diversified his $156.7 billion fortune- half his wealth is held through Cascade Investment which was created with the proceeds of Microsoft stock sales and dividends and he has a $21 billion stake in waste-management company Republic Services Inc as well.

Bill Gates has been slowly reducing his fortune through philanthropy. He has built the $75 billion Gates Foundation- along with his ex-wife Melinda French Gates and Warren Buffett- one of the biggest charitable organizations in the world. Since starting the Foundation, Bill Gates and his former wife have given almost $60 billion from their personal fortunes.

Recently, Melinda French Gates stepped down as co-chair of the foundation and received $12.5 billion to use for her own charitable purposes.