Meet 20 executives who became billionaires while working for others

The general assumption in the business world is that billionaires typically emerge from entrepreneurship, inheritance or founders of global companies who built their fortunes from the ground up.

However, a select group of high-ranking executives have defied this norm, amassing fortunes of 10-figure magnitude while working for others.

These individuals leveraged their positions within major corporations to secure wealth from salary and bonuses and, more significantly, through stock options, equity deals, and other lucrative benefits of the C-suite.

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According to Forbes Middle East, here are 20 executives who have become billionaires without founding the companies they work for.

1. Steve Ballmer

Steve Ballmer joined Microsoft in 1980 as the company’s 30th employee and went on to become CEO from 2000 to 2014. During his tenure, Microsoft saw rapid growth, and Ballmer’s compensation package, particularly stock options, played a key role in his wealth accumulation. Ballmer, with an estimated net worth exceeding $100 billion, is now the owner of the Los Angeles Clippers.

2. Meg Whitman

Meg Whitman’s role as CEO of eBay from 1998 to 2008 was instrumental in transforming the online auction site into a global e-commerce powerhouse. Her stock options and bonuses helped her amass a fortune, and her estimated net worth is over $3.7 billion. Whitman later went on to lead Hewlett-Packard and is now a major investor in various ventures.

3. Sheryl Sandberg

Sheryl Sandberg’s role as Chief Operating Officer at Meta (formerly Facebook) was pivotal in scaling the company’s advertising model into a highly lucrative business. Sandberg’s stock-based compensation helped her reach billionaire status, with her net worth currently estimated at around $1.5 billion. She stepped down from Meta in 2022 but remains a prominent figure in tech and philanthropy.

4. David Zaslav

David Zaslav, CEO of Warner Bros. Discovery, has built his wealth through savvy leadership in the media industry. His role in overseeing the merger of Discovery and WarnerMedia, along with his lucrative compensation package, including stock options, has pushed his fortune close to $3 billion.

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5. Robert Iger

Robert Iger led Disney as CEO from 2005 to 2020, during which time the entertainment giant made blockbuster acquisitions such as Pixar, Marvel, and Lucasfilm. These deals not only boosted Disney’s stock but also Iger’s wealth, which is now estimated to be around $690 million, largely tied to stock awards and bonuses during his tenure.

6. Sundar Pichai

Sundar Pichai took over as CEO of Google in 2015 and later became CEO of Alphabet, Google’s parent company, in 2019. Pichai’s wealth has grown alongside Google’s success, primarily through stock grants and equity awards, making him a billionaire with an estimated net worth of over $1.3 billion.

7. Eric Schmidt

Eric Schmidt served as Google’s CEO from 2001 to 2011 and later as executive chairman. During his time with Google, Schmidt’s stock holdings and options steadily increased in value, eventually earning him a fortune estimated at $19 billion. His strategic leadership during Google’s formative years laid the groundwork for much of his wealth.

8. Satya Nadella

Satya Nadella, who became CEO of Microsoft in 2014, has seen his wealth soar alongside the company’s remarkable growth. His stock-based compensation helped him become a billionaire, with a fortune now estimated at over $1 billion. Under his leadership, Microsoft has expanded its cloud services, significantly increasing its market value.

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9. John S. Weinberg

John S. Weinberg spent decades at Goldman Sachs, eventually becoming vice chairman. Throughout his career, Weinberg amassed considerable wealth through stock options and bonuses tied to the firm’s success. His net worth is estimated to be in the billions, as he benefited from the firm’s robust performance.

10. Stephen Schwarzman

Stephen Schwarzman, co-founder and CEO of Blackstone Group, earned his fortune largely through his role in one of the world’s most successful private equity firms. With a net worth of over $32 billion, Schwarzman has amassed his wealth through stock ownership and the firm’s continued success in global investments.

11. Jeffrey Katzenberg

Jeffrey Katzenberg, co-founder of DreamWorks Animation, led the company until its sale to NBCUniversal in 2016. His wealth, tied to his equity in DreamWorks, surged after the acquisition, making him a billionaire with an estimated fortune of $900 million. Katzenberg continues to invest in new ventures and remains an influential figure in Hollywood.

12. Tim Cook

Tim Cook, who succeeded Steve Jobs as CEO of Apple in 2011, has seen his wealth grow to over $1.8 billion. Cook’s stock-based compensation, including options tied to Apple’s performance, has driven his fortune as the company became the world’s first to reach a $3 trillion market capitalization.

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13. Evan Spiegel

Evan Spiegel co-founded Snap Inc., the parent company of Snapchat, and has built his wealth through his equity stake in the company. Despite early challenges with Snap’s stock, Spiegel’s fortune is now estimated at over $2.5 billion, thanks to the company’s growth as a key player in social media.

14. Marc Benioff

Marc Benioff, co-founder and CEO of Salesforce, has a fortune estimated at over $10 billion. His wealth is largely tied to his equity stake in Salesforce, which has grown into one of the world’s leading enterprise software companies under his leadership.

15. Michael Milken

Michael Milken made his fortune as an investment banker at Drexel Burnham Lambert, where he played a key role in developing the high-yield bond market. Despite legal troubles, his early wealth accumulation in the 1980s set the stage for his estimated net worth of $6.8 billion today.

16. Alan Mulally

Alan Mulally served as CEO of Ford from 2006 to 2014, helping steer the company through the financial crisis without resorting to a government bailout. His compensation, including stock options and bonuses, helped him build a fortune now estimated at over $500 million.

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17. Lloyd Blankfein

Lloyd Blankfein, CEO of Goldman Sachs from 2006 to 2018, accumulated wealth through stock options and bonuses tied to the firm’s performance. His net worth is estimated at $1.5 billion, bolstered by Goldman’s strong profitability during his leadership.

18. Andy Jassy

Andy Jassy took over as CEO of Amazon in 2021 but has long been a key executive, particularly as the head of Amazon Web Services (AWS). Jassy’s stock grants and options have grown in value, helping him reach billionaire status with a fortune estimated at $400 million before his ascension to CEO.

19. Reed Hastings

Reed Hastings co-founded Netflix, and his wealth has grown significantly as the company became a global streaming leader. Hastings’ fortune, estimated at over $3 billion, is tied to his substantial equity stake in Netflix.

20. Ken Griffin

Ken Griffin, founder and CEO of Citadel, built his fortune through his leadership of one of the world’s largest hedge funds. Griffin’s net worth is estimated at over $35 billion, with much of his wealth tied to Citadel’s continued success in financial markets.