United States: Former Microsoft CEO Steve Ballmer is set to collect a staggering $1 billion in annual dividend payments from the tech giant in 2024.
This comes after Microsoft's decision to increase its quarterly dividend to 75 cents per share, amounting to $3 per share annually, reports CNN.
As per his income levels, Ballmer will be paying 20% tax on the dividend earnings due to be received in FY23. The total tax on dividend amounts to $200 million.
Ballmer is the single largest individual shareholder in Microsoft. As per his last financial disclosure in 2014, Ballmer held 333.2 million shares of Microsoft, amounting to nearly 4% stake in the company, according to a Business Insider report.
Steve Ballmer joined Microsoft in 1980 and rose up to the rank of CEO in 2000. He was one of the trusted associates of Microsoft co-founder Bill Gates.
