Despite being the son of one of the richest men in the world, 29-year-old comedian Pete Ballmer lives a modest life: he lives in a simple apartment with just two bedrooms and has been using the same car since 2015.
The comedian’s surname makes it impossible to hide: he is one of the three heirs of Steve Ballmer, former CEO of Microsoft and one of the richest men in the world, with an estimated fortune of US$120.5 billion, according to Forbes. In an interview with Business Insider, he revealed how his education resulted in a much more modest life.
“I live in a two-bedroom, one-bathroom apartment with my girlfriend and it’s perfect for our purposes; It’s not bigger than it should be. […] I drive a 2015 Ford Focus that my parents bought for my younger brother,” he said.
During the conversation, Pete said that he learned from his parents the importance of not wasting money. Even though he and his brothers had a good living condition, they were not spoiled with expensive gifts. He states that this principle was fundamental in shaping his relationship with wealth throughout his life.
“Having a lot of money was a relatively new experience for my parents, as was raising children. They raised us the way their parents raised them, and since they didn’t grow up talking about wealth, they didn’t talk about it to us either,” he said in the interview.
While growing up, Pete remembers that he began to feel the weight of belonging to a wealthier family than his peers and that he wanted to distance himself from stereotypes as much as possible. “I started to feel proud of the fact that I wasn’t as spoiled as I could be, that I didn’t have a lot of money thrown at me. People started saying nice things about the way my brothers and I approached money,” Pete explained.
During his years at school, Pete said he worked to achieve his own things. In elementary school, he explained that he received only $10 in allowance, and that after ninth grade, he said he learned the value of work after seeking temporary jobs and founding a small landscaping “company” with his friends.
Despite receiving an inheritance from his grandfather at the age of 25, Pete chose to pursue an independent career, working as a product manager and investing in his passion for stand-up comedy. “Between what I get from my inherited investments and the comedy income, my money has remained pretty stable because of my spending habits,” he said.
In addition to maintaining a seemingly simple lifestyle, Pete also dedicates part of his financial resources to donations. He said he never asked his parents for money again after adulthood and chose to seek his own financial independence.
“After graduating, I borrowed $1,000 from my parents for an international trip I had planned with some friends. But that wasn’t enough to cover everything, so I borrowed another $1,000 from one of my roommates because I didn’t want to ask my parents for more money. The experience of not wanting to go back to your parents for more is quite human and universal; you don’t want to be seen as irresponsible”, explained the heir.
For Pete, true wealth lies in the ability to find happiness and fulfillment beyond material possessions. Furthermore, the billionaire’s son explained that he knows he could have better things, but that he realizes he has a simpler routine for fear of a meaningless and superficial life.
“Obviously, money can do a lot for a person. Growing up with a comfortable life (and being around people who had comfortable lives), I have experienced for myself and observed in others the fact that you can still be unhappy despite having a lot of money,” added Pete.
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2024-03-30 06:00:00
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