According to Forbes, Steve Ballmer, 58, is the 35th richest man in the world with a net worth of $20 Billion.
http://www.forbes.com/profile/steve-ballmer/
He took 10% of his wealth and overbid for a basketball team IMHO.
Insane valuation..
Sterling during this whole thing was said to be worth around 1.8 Billion. Not sure how much of that evaluation included the team. I would say he just made a windfall however you slice it. That fine of 2.5 million is looking mighty small now.
.......and if his company utilizes a 12% IRR (Internal Rate of Return) then he has to make (net) 250 million on his 2 billion investment just to break even.
Somehow I kinda doubt this investment for a roundball team in a declining city/state like LA/California.
But, oh well, he’s a bright guy. I’m sure he knows what he is doing.