Steve Ballmer Lost $60M in Aspiration Fraud, Files Victim Statement Before Sentencing

Steve Ballmer, Microsoft's former CEO, is seeking justice after losing $60 million in what he describes as a fraudulent scheme by Joseph Sanberg, the founder of Aspiration Partners.

In a letter to Judge Wilson ahead of Sanberg's April 27, 2026 sentencing, Ballmer's lawyers detailed how the former Microsoft CEO was defrauded by the fintech entrepreneur who pitched sustainable banking services.

"Sanberg flagrantly defrauded Mr. Ballmer, and his actions have significantly damaged Mr. Ballmer's reputation," the letter states. "Mr. Ballmer invested a total of $60 million in Aspiration because he believed in Aspiration's stated environmental mission and because he believed Joe Sanberg's representations about the financial bona fides of the company."

Aspiration Partners marketed itself as a green fintech company offering credit cards and investment products that avoided fossil fuels. The startup promised to "automatically plant trees with every card purchase." In 2021, it announced plans to go public via a SPAC merger at a value of $2.3 billion, a transaction that never took place.

Sanberg pleaded guilty to two counts of wire fraud in August 2025, defrauding multiple investors and lenders. Ballmer is described as one of the single largest victims of Sanberg's fraud, with his entire investment lost.

"The harm to Mr. Ballmer's reputation is immeasurable," the letter continues. "It is harm that persists to this day and will continue long after this matter, and Sanberg's sentence, concludes."

The connection between Ballmer and Sanberg originated through the Los Angeles Clippers. In 2021, Sanberg personally led Aspiration's bidding for naming rights to the Clippers' new arena. Although Aspiration lost that bidding process, Ballmer saw synergy in partnering with a company whose environmental mission aligned with his own commitment to sustainability.

In September 2021, Aspiration and the Clippers signed an agreement whereby Aspiration would commit more than $300 million to become a founding partner and the long-term team sponsor for jersey patches. That same month, the team agreed to purchase carbon credits from Aspiration to offset the Clippers' carbon emissions.

The reputational harm extended beyond the financial loss. Ballmer was added as a defendant to a civil lawsuit, Karr v. Sanberg, despite being a victim of the fraud himself who was defrauded of more money than any of the plaintiffs.

"Those allegations are nonsense," the letter states. "But even if Mr. Ballmer's pending demurrer is sustained, the frivolous litigation has already exacted a reputational toll."

Additionally, television personality Pablo Torre launched what Ballmer's lawyers describe as a "relentless vitriolic public campaign" alleging Ballmer conspired with Sanberg to circumvent the NBA's salary cap through an endorsement deal with star player Kawhi Leonard.

These allegations led to an NBA investigation that Ballmer says has impacted his reputation within the league. Ballmer has cooperated fully with the investigation, commissioning an internal review and directing employees to participate in the league's inquiries.

"Mr. Ballmer's losses are not measured solely, or even primarily, on a balance sheet," the letter concludes. "They are measured in the reputational damage that will take years to remediate, and in the chilling effect on future endeavors intended to do good at scale."

We ask the Court to impose a sentence that accounts for those harms, promotes respect for the law, and deters those who would seek to appropriate the reputations of others to advance fraudulent aims.

Sentencing is scheduled for April 27, 2026.