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.
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.
I’m not fully abreast of Ballmer’s dealings, but I know he’s spending a shit ton on pro basketball:
https://time.com/139577/former-microsoft-ceo-buys-clippers-2-billion/
https://www.nba.com/news/clippers-owner-steve-ballmer-closes-deal-forum
https://www.cnbc.com/2021/09/19/clippers-owner-steve-ballmer-announces-new-1point2-billion-intuit-dome.html
https://variety.com/2022/biz/news/steve-ballmer-la-clippers-clippervision-jamal-crawford-baron-davis-1235405566/
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.
Microsoft laid off 16,000 people in 2023 alone. How many pro basketball jobs did he create in return?
https://news.microsoft.com/leadership/?section=board-members
https://news.microsoft.com/leadership/?section=board-members
Ballmer’s not on either of those lists. Not sure how you can put those layoffs on him.
He owns a 4% stake in the company. He could easily have used his sway to prevent layoffs.