September 22, 1997 in Nation/World

Stock Options The Frosting On A Rich High-Tech Cake

Associated Press
 

The boom in technology stocks is churning out millionaires by the scores as the industry continues to grant employees more stock options than any other, Forbes ASAP magazine says.

Microsoft Corp. chairman Bill Gates, worth about $38.66 billion, heads the magazine’s first list of technology’s 100 richest people, released Sunday. He is followed by Microsoft co-founder Paul Allen and vice president Steve Ballmer, among the 12 Microsoft millionaires on the list - more than any other company.

The list includes 11 billionaires, including Oracle Corp. chairman Larry Ellison, Intel Corp. chairman Gordon Moore and Dell Computer Corp. chairman Michael Dell.

But technology’s wealth has trickled down beyond the boardrooms, according to Forbes ASAP, a technology supplement of the noted business magazine.

Two of the industry’s largest companies, Microsoft and Cisco Systems Inc., grant stock options to all their employees. Computer companies reserve 16 percent of their outstanding shares for employee-option programs, the magazine said in its Oct 6. issue.

xxxx

THE TOP 20

The 20 richest people in the technology business as compiled by Forbes ASAP magazine. Following the name and company is the estimated net worth.

1. Bill Gates, Microsoft, $38.66 billion

2. Paul Allen, Microsoft, $14.77 billion

3. Steve Ballmer, Microsoft, $8.21 billion

4. Larry Ellison, Oracle, $8.20 billion

5. Gordon Moore, Intel, $7.97 billion

6. Michael Dell, Dell, $4.66 billion

7. William Hewlett, Hewlett-Packard, $4.20 billion

8. Ted Waitt, Gateway 2000, $2.83 billion

9. David Duffield, PeopleSoft, $1.73 billion

10. Charles B. Wang, Computer Associates, $1.20 billion

11. Robert Galvin, Motorola, $1.10 billion

12. John Morgridge, Cisco, $779.4 million

13. Sanjiv Sidhu, i2 Technologies, $716.0 million

14. Craig Benson, Cabletron, $641.8 million

15. Jim Clark, Netscape, $597.0 million

16. Norman Waitt, Gateway 2000, $543.0 million

17. Steve Jobs, Pixar, $513.8 million

18. Patrizio Vinciarelli, Vicor, $503.5 million

19. S. Robert Levine, Cabletron, $488.2 million

20. John Shirley, Microsoft, $483.5 million

© Copyright 1997 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Thoughts and opinions on this story? Click here to comment >>

Get stories like this in a free daily email