Ballmer Group is an American investment company based in Bellevue, Washington, that serves as a family office to manage the wealth of Steve Ballmer, the former CEO of Microsoft. The purpose of Ballmer Group is to help children, especially those born into poor families, with economic mobility.
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| Ballmer Group | |
| Company type | Limited liability company |
| Industry | Family office |
| Founded | 2015 |
| Founders |
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| Headquarters | Bellevue, Washington, U.S. |
| AUM | US$85 billion (2023) |
| Website | ballmergroup |
| Footnotes / references [1] | |
Ballmer Group has a presence in southeast Michigan, Washington state, and Los Angeles County.
Background
editAfter retiring from his role at Microsoft, Steve Ballmer decided to join his wife, Connie, in philanthropy, and the two co-founded the Ballmer Group in 2015.[2][3][4]
At the start of his philanthropic work, Ballmer wanted to understand how much the government was actually helping disadvantaged children and set up Ballmer Group to help children, especially those from the lowest economic strata move up economically. The company focuses on funding organizations that demonstrate the ability to reduce systemic inequities. It also provides grants to direct services to strengthen communities. Grants typically last for at least three years and the use of them are unrestricted. However, before providing funding or grants, the Ballmer Group will perform significant data-based due diligence on the organizations as well as tracking their commitment and ability to deliver.[2][3][4][5]
Ballmer Group has also been involved in backing advocacy groups related to policies on criminal justice issues including bail reform and expunging criminal records. It also has regularly spoken with lawmakers and legislators such as Karen Bass.[3]
With regards to its approach in funding education programs, Ballmer Group uses a "wraparound approach", which emphasizes the community context rather than being directly involved with educational issues such as K-12 personalized learning, academic standards and curriculum. One of its largest donations was made to StriveTogether, a network of local communities striving to achieve racial equity and economic mobility for children.[5]
Ballmer Group is structured as a limited liability company which gives the Ballmers more options on what it can do. The company has been noted having less transparency than other peers. Officials from the Ballmer Group have told Education Week, they would not commit to publicly disclose all the organization's grants, investments, lobbying work, or support for elected officials and campaigns.[5]
In 2016, Ballmer Group expanded its operations into the Los Angeles County.[3] In 2017, it expanded its operations into Detroit.[6]
Notable funding and grants
editIn August 2018, Ballmer Group announced a $59 million, five-year investment in Social Solutions, a software company that tracks data related to nonprofit and government social service agencies.[5][7] In October 2018, Ballmer Group donated $16 million to 18 nonprofits in southeast Michigan which included City Year, American Heart Association and Planned Parenthood.[8]
In March 2022, Ballmer Group donated to $425 Million to the University of Oregon to create the Ballmer Institute for Children's Behavioral Health. It aimed to tackle mental health issues that children and adolescents face.[9]
In February 2023, Ballmer Group stated it would provide commitments of up to $165 million to Communities in Schools to build 1,000 additional majority-low-income schools.[10] In April 2023, Ballmer Group provided $43 million to the state of Washington to increase the access to early childhood education. It also provided $38 million to the University of Washington to fund early childhood educator scholarships.[4][11] In May 2023, Ballmer Group stated it would provide $42.5 million over the next five years to support more than 100 Black-led nonprofits focused on improving economic mobility.
References
edit- ^ "Ballmer Group (Ballmer Group) - Family Office, United States - SWFI". www.swfinstitute.org.
- ^ a b "The Ballmer Group: Reaping the rewards of loyalty". Simple. Retrieved November 18, 2023.
- ^ a b c d Greif, Andrew (July 8, 2020). "Steve Ballmer is putting his billions behind bigger causes in L.A. than the Clippers". Los Angeles Times. Retrieved November 18, 2023.
- ^ a b c Matthiessen, Connie (April 6, 2023). "How the Ballmers Aim to Build and Diversify the Early Ed Workforce in Washington State". Inside Philanthropy. Retrieved November 18, 2023.
- ^ a b c d Herold, Benjamin (March 5, 2019). "Ex-Microsoft CEO (No, Not That One) Giving Big to K-12". Education Week. ISSN 0277-4232. Retrieved November 18, 2023.
- ^ Steinberg, Stephanie; Rahal, Sarah. "Ex-Microsoft chief Ballmer fights Detroit poverty". The Detroit News. Retrieved November 18, 2023.
- ^ "Ballmer Sees Software as Key Link to Reach At-Risk Schoolkids". Bloomberg.com. August 8, 2018. Retrieved November 18, 2023.
- ^ Rubin, Neal. "Ballmer Group pledges $16M to southeast Michigan nonprofits". The Detroit News. Retrieved November 18, 2023.
- ^ Esnaashari, Farbod (March 2, 2022). "Steve Ballmer Donates $425 Million to University of Oregon". Sports Illustrated LA Clippers News, Analysis and More. Retrieved November 18, 2023.
- ^ Superville, Denisa R. (February 14, 2023). "Supports in Every Title I School? A Community Schools Group Receives Record $165M". Education Week. ISSN 0277-4232. Retrieved November 18, 2023.
- ^ "UW receives $38M to fund hundreds of early childhood educator scholarships". The Seattle Times. April 1, 2023. Retrieved November 18, 2023.