How a Stanford Dropout Doubled the Clippers Evaluation to a Whopping $4 Billion in Just a Decade

On the 24th of March, Los Angeles Clippers owner Steve Ballmer turned 68 years old. He was the first business manager picked by Bill Gates for Microsoft in 1980, following which he left an indelible mark in the tech world. Ballmer was the first graduate of his family, completing his Bachelor of Arts in Applied Mathematics and Economics from Harvard University in 1977.  Then he enrolled in Stanford Graduate Business School’s MBA Program as a National Merit Scholar. However, he left the program in 1980 to join Bill Gates in his tech venture.

After heading many projects for Microsoft from 1980 to 1998, Ballmer was elevated to the position of President and he eventually replaced Gates as CEO in 2001. Following his career as a tech executive, the Clippers owner is also leaving a substantial imprint as a franchise owner. On his birthday, Boardroom’s official Threads page gave the former Microsoft CEO his props as someone who doubled the Clippers’ market valuation since he took over a decade ago.

The post by Boardroom read, “Steve Ballmer turns 67 today. In 1980, he joined Microsoft as employee No. 30 after dropping out of Stanford — and climbed the ladder all the way up to CEO twenty years later. In 2014, he bought the L.A. Clippers for a then-record $2 billion. Per Forbes, the team has since more than DOUBLED in value. Happy birthday to a tech OG.”

Ballmer’s ascension can be traced to the rise of the internet. He played a crucial role in the development of the .NET framework which played a building block role in Microsoft’s ascension. After a remarkable tech career, the veteran techie turned to hoops. In 2014, he became the majority owner of the Los Angeles Clippers, replacing Donald Sterling, who was ousted for his alleged racist remarks. Since then, the Clippers owner has helped mend the LA team’s image in the league and his tenure has been lauded in various ways.

 

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Apart from that, what stands out is his ability to lift the franchise’s market profile. In October 2023, Forbes calculated the Clippers’ market valuation to be $4.65 billion, which is a massive jump from the $2 billion evaluation when he took over. Additionally, Ballmer’s incredible energy while rooting for his team has been a staple during the Clippers’ home games. Apart from that, he has also made the move to find a more comfortable home for the squad, instead of sharing the same arena with the Lakers.

Steve Ballmer has elevated the Clippers

Since entering the NBA scene in the 1980s, the Clippers have lived in the shadows of the Lakers, with whom they have shared their home court. While they are still bereft of a title, the franchise has won more often than their crosstown rivals since 2014. However, despite winning more often, they continue to be enveloped by the presence of the franchise with 17 NBA titles. But the former Microsoft CEO is spearheading a major move to drift away from the towering ghost of the Lakers. Deadspin’s DJ Dunson outlined the significant overhaul the franchise is going through.

The article highlighted how the Clippers are going to shift to Intuit Dome from the 2024-25 season. This $2 billion state-of-the-art arena will be based in Inglewood. But that’s not all. The Deadspin article also highlights that the team is going to shed away their old logo. They are also going to incorporate New Jersey patterns. Ballmer has indeed transformed the Clippers brand to another level.