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Gates and Ballmer give themselves a pay rise

11 percent
Thu Sep 29 2005, 08:47
MICROSOFT'S King, Sir William Gates, and its CEO, the shy and somewhat retiring Steve Ballmer, have decided that are were worth 11 per cent more extra cash.

According to a regulatory filing, Vole's dynamic duo decided to give themselves 11 per cent more money to move them into the million dollars a year bracket.

That is made up of a salary of $600,000 and a bonus of $400,000 for doing such a wonderful job last year.

Ballmer also received $US6,300 in matching 401(k) contributions and $US2,773 in other benefits. Gates received $2,469 in other benefits.

This year they are expected to earn base salaries of $620,000 and will be eligible for bonuses of up to 120 per cent of their salaries.

In addition, Gates owns 9.55 per cent of Microsoft shares, while Ballmer owns 3.85 per cent. It is probably the shares that make them the most money.

Forbes says that on that basis, Gates is the US's richest man, worth an estimated $US51 billion and Ballmer is slightly shy of $US14 billion and ranked 11th.

Former Gates' partner and now leader in the space race Paul Allen is rated third, Michael Dell is fourth, and Larry Ellison is fifth, as we reported last week. µ

 

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