Steve Ballmer reported to be bidding $1.8 billion for the Los Angeles Clippers [Updated]
What do Steve Ballmer, Larry Ellison, and Magic Johnson have in common? They're all interested in buying the Los Angeles Clippers from embattled owners Shelly and Donald Sterling. The auction, said to be a blind bidding process in which those bidding do not know what their competition has offered, is moving quickly, with the Sterlings looking to unload the NBA franchise after Donald's racist comments led to his being forcibly removed from the leadership of the team. Ballmer's interest in the team isn't new, but according to Forbes the former Microsoft CEO is offering $1.8 billion.
Sterling paid $12.5 million for the Clippers back in 1981, so the sale, regardless of how it turns out, will net him a return on the investment. A sale for $1.8 billion would be 144 times the 1981 purchase price.
It's clear where Ballmer — whose net worth is estimated to be around $20 billion — and Oracle CEO Ellison (net worth: $43 billion) are finding their money. But Magic Johnson? He did well with the Los Angeles Lakers, but not that well. Johnson is tied up with investment group Guggenheim Partners, with whom he bought the MLB's Dodgers last year for $2 billion.
The other former Microsoft CEO, Bill Gates, on the other hand, is using his many more billions buying things too. Like working to eradicate malaria. But it's Ballmer's money, he can spend it on an NBA team without a championship to its name in a city with another team that has 16 such championships if he really wants to.
Update: Steve Ballmer has bid $2 billion to buy the Los Angeles Clippers. His offer has beat out bids of $1.6 billion and $1.2 billion from investment groups backed by the likes of Oprah Winfrey, Larry Elison and others. This does not mean Ballmer has bought the Clippers, just that he's offered to pay the most for the team. The current owners of the Clippers will need to accept the offer in order for the sale to move forward. If accepected by Clipper owners and approval of three-fourths of the other NBA owners, the sale would be the largest in NBA history. Source: LA Times
Update 2: NBA.com is reporting that Steve Ballmer has reached an agreement with Shelly Sterling to buy the Clippers for $2 billion. Source: [NBA](/Shelly Sterling reached an agreement)
Windows Central Newsletter
Get the best of Windows Central in your inbox, every day!
Derek Kessler is Special Projects Manager for Mobile Nations. He's been writing about tech since 2009, has far more phones than is considered humane, still carries a torch for Palm, and got a Tesla because it was the biggest gadget he could find. You can follow him on Twitter at @derekakessler.
"hi it looks like you are trying to make a basket, do you need some help"
what are you doing commenting here anyway? go and "save" lives or whatever, you talk so much but you don't do shit for anyone. so what? Ballmer can't have something he wants only becuase idiots like you think "oh Bill gates is a god and he only helps people, so everyone who has money should be like him" (because people with no money can't do that.. oh right *sarcasm*).
I mean, Bill Gates has a foundation, not all the money he spends to help people comes from him... it comes from also other people who wants to help. but again? what do you care? you aren't probably doing crap for others. but of course you won't see at the mirror and think "oh I spent alot of money in a phone, I could have bought a cheaper one and give the rest to someone who needs it" oh no... that's forbidden for you to say only because you don't have billions in your bank, but people with money like Steve Ballmer can't do whatever they way with his money because "oh quite difference" crap comment like yours. and you don't even know if Ballmer has helped or not someone. you are just prejudging him only because news are bout him wanting the basketball team he always wanted (oh yeah let's give up on our dreams because there is poor people around the world *sarcasm again*). you don't have proves or anything to say he hasn't helped anyone, or he isnt giving money to charity, but since it's not in the news... oh yeah "Ballmer isn't helping anyway, unlike bill gates who is news about helping people"
Gates has pledged to give away 99% of his wealth to good causes. Balmer spends 1/10th of his wealth on a basketball team.
Gates was both a better businessman, and a better human being. & frankly, why shouldn't we expect the super rich to do something altruistic with their wealth?! They were afforded the opportunity to create such wealth by stable social, political and economic systems sustained by little worker bees like us. So yes, why shouldn't we applaud that fortunate 1% who earn mega money & who then have the humanity to give it all back
Defense, defense, defense.
Defense, defense, defense.
what does it have to do with Microsoft? not much, only that Ballmer was Microsoft CEO until few months ago and he is still in the board (may quit soon) and is the person with more Microsoft stock at the moment. is that not enough for you?
you didn't have to read it, and less comment on this. but that's why it's in General News, and not other label. but at least this has more to do with Microsoft than Apple adquisition yesterday or Goole and Chrome and extensions.
does it hurt you so much people have dreams and only because there is sick or poor people in the world, some people don't give up on them? like Ballmer and having a Basketball team? does it hurt you so much something like that?
how many devices (since we are in a tech site) have you bought in 3 years? how many times you have stopped from buying a phone or ipad or laptop and thinking "oh I will give the money to someone else"? again, I think your last paragraph is crap, and next time if you want to put that crap, don't write the article, because nobody told you to write a "general news" (since it has nothing to do with Microsoft anymore) about ex-Microsoft CEO, who wants a basketball team and how he wants to spend his money.