compaq founders net worthcompaq founders net worth

[citation needed], The company was formed by Rod Canion, Jim Harris, and Bill Murto, all of whom were former Texas Instruments senior managers.

HP's business computers line was discontinued in favour of the Compaq Evo line, which was rebranded HP Compaq. Although Compaq had become successful by being 100 percent IBM-compatible, it decided to continue with the original AT buswhich it renamed ISA[30]instead of licensing IBM's MCA. It was considerably faster than an IBM PC and was, like the original Compaq Portable, also capable of running IBM software. Under the pact, Compaq agreed to promote and sell NaviSite Web hosting services. It was sold to Compaq for $307 million in 1999. Two key marketing executives in Compaq's early years, Jim D'Arezzo and Sparky Sparks, had come from IBM's PC Group. Dell overtook Compaq and became the number-one supplier of PCs in 2001. For the first three months after announcement, the Deskpro 386 shipped with Windows/386. With a valuation of $21 bn, the Raveendran-led edtech company is the second most valued startup in India and the most valued edtech startup in the world, as per December 2021 reports. These departures were motivated by an enhanced severance or early retirement, as well as an imminent demotion as their functions were to be shifted to vice presidents. This business tycoon founded Inditex fashion group and being the chairman till 2011. He held many positions in this worlds largest personal computer software company such as chairman, chief executive officer (CEO), president, and chief software architect. Net Worth: $56.4 BillionTitle: Co-founder of Inditex GroupBusiness: Inditex GroupOccupation: Spanish businessmanNationality: SpainKnown for: Richest Person in SpainBorn: 28 March 1936, Spouse: Rosala Mera (m. 1966; div. That multinational company is now known as Amazon. Cash App founder Bob Lees murder in San Francisco has raised a series of questions about the event. A majority of that wealth comes from the millions of units of stock he holds in Moderna, reportedly valued at over $3 billion. He studied at places like the Wharton School of the University of Pennsylvania, University of Nebraska, Columbia Business School, and New York Institute of Finance to prepare himself for business and investment. Also, the company should no longer use profits from high-margin businesses to carry marginally profitable ones, as instead each unit must show a return on investment. [12], Under Canion's direction, Compaq sold computers only through dealers to avoid potential competition that a direct sales channel would foster, which helped foster loyalty among resellers. 3 of 6 4 of 6 The PIE shop: Compaq traces its origin to a place mat in this Houston pie shop in 1982. Collectively, the founders will represent about 59.6 percent of the voting power. Through his unprecedented success, he dreamed higher. Unlike many startups, Compaq differentiated its offerings from the many other IBM PC clones by not focusing mainly on price, but instead concentrating on new features, such as portability and better graphics displays as well as performanceand all at prices comparable to those of IBM's PCs. Particularly rival Dell made gains from defecting HP and Compaq customers who were wary of the merger. This 76-year-old man is currently holding the position of seventh richest businessman and the highest-paid executive between 2000 to 2009 in the world. Despite extensive research, there is a lack of information about Bob Lees net worth in 2023. However, the combined HP-Compaq struggled and fell to second place behind Dell from 2003 to 2006.

Amy Graff , SFGATE.

[122], HP discontinued the Compaq brand name in the United States in 2013. Each invested $1,000 to form the company, whic Instead of cloning MCA, Compaq led an alliance with Hewlett Packard and seven other major manufacturers, known collectively as the "Gang of Nine", to develop EISA. [56], Pfeiffer also refused to develop a potential successor, rebuffing Rosen's suggestion to recruit a few executives to create the separate position of Compaq president. According to the Forbes rich list, Francis has a fortune of 992million. April 5, 2023. Title: CEO of Berkshire Hathaway, Inc. As of March 27, 2023, Elon Musks net worth is estimated to be around $192 billion, making him the second-wealthiest person in the world, according to both the Bloomberg Billionaires Index and Forbes real-time billionaires list. [38], Rosen initiated a 14-hour board meeting, and the directors also interviewed Pfeiffer for several hours without informing Canion. Gutsch had an extensive security system and guard station installed on the eight floor of CCA-1, where the company's senior vice presidents had their offices. Deutsche Bank consented without admitting or denying the findings.[102]. He also founded the company Blue Origin and bought one of the leading newspapers of the United States named The Washington Post in 2013. Current and former Compaq employees complained that Gutsch was part of a group of senior executives, dubbed the "A team", who controlled access to Pfeiffer.

Recently her separation from Melinda French shocked everyone. Capellas stepped down as HP president on November 12, 2002, after just six months on the job, to become CEO of MCI Worldcom where he would lead its acquisition by Verizon. The new C.E.O. With $60 million in venture capital in the bank from Compaq founder Rod Canion, Soros Venture Partners and Sternhill Management, RLX started business the same month. Rivkin, Jan W., and Porter, Michael E. Matching Dell, Harvard Business School Case 9-799-158, June 6, 1999. Pfeiffer also made several major and some minor acquisitions. Analytical cookies are used, the purpose of which is to quantify the number of visitors and statistically analyze the use made by the user of this site so that, Headquarters were in Palo Alto, California. However it was also risky merger, as the combined company would have to lay off 2,000 employees from Compaq and 15,000 from Digital which would potentially hurt morale. February 27, 2023 equitable estoppel california Most Compaq products have been re-branded with the HP nameplate, such as the company's market leading ProLiant server line (now owned by Hewlett Packard Enterprise, which spun off from HP in 2015), while the Compaq brand was repurposed for some of HP's consumer-oriented and budget products, notably Compaq Presario PCs. Bob Lee, Cash App founder and executive at cryptocurrency firm MobileCoin, is dead after a "horrific" act in San Francisco on Tuesday, San Francisco District Attorney Brooke Jenkins said on Wednesday. Cash App Worth [citation needed]. [81] In addition, Rose was part of the "old guard" close to former CEO Pfeiffer, and he and other Compaq executives had been criticized at the company's annual meeting for selling stock before reporting the sales slowdown. During its existence as a division of HP, Compaq primarily competed against other budget-oriented personal computer series from manufacturers including Acer, Lenovo, and Toshiba. This would not be Compaqs only business record. Furthermore, Microsoft had kept the right to license MS-DOS, the most popular and de facto standard operating system[21] for the IBM PC, to other computer manufacturers. Most of Compaq's competitors except Dell were later acquired by bigger rivals like Acer (Gateway 2000 and Packard Bell) and Lenovo absorbing IBM's PC division. Compaq is sitting down at the typewriter". In return, NaviSite took Compaq as a preferred provider for its storage and Intel-based servers. As it started to get popularity, it spreaded outside. Bob Lee, Cash App founder and executive at cryptocurrency firm MobileCoin, is dead after a "horrific" act in San Francisco on Tuesday, San Francisco District Attorney Brooke Jenkins said on Wednesday. Several senior executives from the Compaq side including Jeff Clarke and Peter Blackmore would resign or be ousted from the post-merger HP. [22][23][24], Unlike other companies, Compaq did not bundle application software with its computers. They didn't think it would get done. His company, Byju's is also a market leader in terms of valuation. It appears that he is a private individual and may have kept his financial He married Astrid Menks in 2006 after his first wife Susan Thompson had died, breaking their 52 years long happy married life. Type above and press Enter to search. This successful businessman started his career in Amdahl Corporation and Ampex Corporation. [64], Compaq entered 1999 with strong expectations. According to a Forbes report from September 2020, the payment service was worth $40 billion at the Net Worth: $75.2 BillionTitle: Founder and CEO of Facebook, Inc.Business: Facebook, Inc.Occupation: Internet entrepreneur, philanthropist, media mogulNationality: United States, Born: May 14, 1984Education: Harvard University (20022004)Spouse: Priscilla Chan (m. 2012)Children: Maxima Chan Zuckerberg, August Chan Zuckerberg. At semi-annual meetings, turnout was high as any employee could ask questions to senior managers. The board complained that Pfeiffer was too removed from management and the rank-and-file, as he surrounded himself with a "clique" of Chief Financial Officer Earl Mason, Senior Vice-President John T. Rose, and Senior Vice-President of Human Resources Hans Gutsch. This centibillionaire founded two more companies such as Neuralink and The Boring Company. Born in America, Page grew up in such an environment which made him attracted to computer science. His estimated net worth before his passing was $10 million, according to Market Realist. Bring along with his close friend Page also founded Alphabet Inc and created PageRank. This strategy was successful as Compaq was considered a trusted brand, while many other IBM clones were untrusted due to being plagued by poor reliability. [92] While supporters of the merger argued that there would be economies of scale and that the sales of PCs would drive sales of printers and cameras, Walter Hewlett was convinced that PCs were a low-margin but risky business that would not contribute and would likely dilute the old HP's traditionally profitable Imaging and Printing division. Support for the virtual 8086 mode was added by Compaq engineers. [72] They began "cleaning house", as shortly afterward many of Pfeiffer's top executives resigned or were pushed out, including John J. Rando, Earl L. Mason, and John T. Rose. [54], In 1998, Compaq acquired Digital Equipment Corporation for a then-industry record of $9.6 billion. [53] In 1997, Microcom was also acquired, based in Norwood, MA, which brought a line of modems, Remote Access Servers (RAS) and the popular Carbon Copy software. Elon Reeve Musk, now the worlds third-wealthiest businessman, is one of the most visionary and optimistic men in the universe. The "Compaq" name from its "HP Compaq" series was originally used for all of HP's business and budget notebooks. [113], In 2008, HP reshuffled its business line notebooks. [20], In November 1982, Compaq announced their first product, the Compaq Portable, a portable IBM PC compatible personal computer. Murto (SVP of sales) departed Compaq in 1987, while Canion (president and CEO) and Harris (SVP of engineering) left under a shakeup in 1991, which saw Eckhard Pfeiffer appointed president and CEO. Bob Lee is the founder of Cash app. [116], On August 18, 2011, then-CEO of HP Lo Apotheker announced plans for a partial or full spinoff of the Personal Systems Group. [117][118] However, the announcement of the PC spinoff (concurrent with the discontinuation of WebOS, and the purchase of Autonomy Corp. for $10 billion) was poorly received by the market, and after Apotheker's ouster, plans for a divestiture were cancelled.

Mark Elliot Zuckerberg is widely known as the co-founder of Facebook, the most popular social media platform in the world. [90] One of the few positives was Compaq's sales approach and enterprise focus that influenced the newly combined company's strategy and philosophy.[111]. Find out. By giving dealers considerable leeway in pricing Compaq's offerings, either a significant markup for more profits or discount for more sales, dealers had a major incentive to advertise Compaq. Once they never like to come in front and introduce themselves. Rose had joined Compaq in 1993 from Digital Equipment Corporation where he oversaw the personal computer division and worldwide engineering, while Stimac had been with Compaq since 1982 and was one of the longest-serving executives. Not all Tesla co-founders have struck it rich [30], Michael S. Swavely, president of Compaq's North American division since May 1989, took a six-month sabbatical in January 1991 (which would eventually become retirement effective on July 12, 1991). [3][4] It rose to become the largest supplier of PC systems during the 1990s before being overtaken by Dell in 2001. He owned the slightly populated Lanai in Hawaiian Island, the 41st largest island in the United States. In 1996, instead of expanding its own plant, Compaq asked a Taiwanese supplier to set up a new factory nearby to produce the mechanicals, with the Taiwanese supplier owning the inventory until it reached Compaq in Houston. This allowed Compaq to compete in the "big-iron market" without incurring the costs of running its own services or software businesses.[51]. Soon after she started to sell music, video albums, and a number of other products. 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[58] At the same time, Compaq, through its acquisitions of the Digital Equipment Corporation in 1998 and Tandem Computers in 1997, had tried to become a major systems company, like IBM and Hewlett-Packard. WebList Net Worth of American company founders, Net Worth 2019 of American company founders, including Alan Gerry, Alexander Karp, Alexander Spanos, Aneel Bhusri, Ben Unlike others, he likes to reluctant himself from media and dresses up with very simple cloth though he owns two yachts Drizzle and Valoria B, a skyscraper in Madrid named Torre Picasso, two private Jets and so on. Language links are at the top of the page across from the title. [7][8] The Compaq brand remained in use by HP for lower-end systems until 2013 when it was discontinued. [15] Overall, the founders managed to raise $25 million from venture capitalists, as this gave stability to the new company as well as providing assurances to the dealers or middlemen. The Compaq Portable was one of the progenitors of today's laptop; some called it a "suitcase computer" for its size and the look of its case. However, Capellas was reported not to be happy with his role, being said not to be utilized and being unlikely to become CEO as the board supported Fiorina. However, the HP EliteBook line became the top of the business notebook lineup while the HP Compaq B series became its middle business line. According to Reuters, the app witnessed the entry of 44 million verified monthly users and earned profits worth $1.8 billion in 2019. In the second spot, with a net worth of $9.9 billion, is Leon Black, the former chairman and CEO of private equity firm Apollo Global Management, which manages over [130], After Canion's ouster, senior vice-president of human resources, Hans W. Gutsch, oversaw the company's facilities and security. InfoWorld reported that "In the [ISA market] Compaq is already IBM's equal in being seen as a safe bet", quoting a sell-side analyst describing it as "now the safe choice in personal computers". 2008), Talulah Riley (m. 2010; div. It appears that he is a private individual and may have kept his financial details confidential, making it challenging for the public to ascertain his net worth. Compaq originally competed directly against IBM, manufacturing computer systems equivalent with the IBM PC, as well as Apple Computer. The two price wars resulting from Compaq's actions ultimately drove numerous competitors from the market, such as Packard Bell and AST Research. the folks at IBM didn't trust the 386. Net Worth: $117.1 BillionTitle: Co-founder: Alphabet Inc., Google LLCBusiness: Alphabet Inc, Google LLCOccupation: Computer scientist, Internet entrepreneur, business magnate, Nationality: United StatesBorn: March 26, 1973Education: University of Michigan (BS), Stanford University (MS)Spouse: Lucinda Southworth (m. 2007)Children: 2. 1974), Nancy Wheeler Jenkins (m. 1977; div. broward health medical center human resources phone number; steve watson obituary poplar bluff mo; new york state standard deduction 2022; compaq founders net worth. There would be a termination fee of US$675 million that either company would have to pay the other to break the merger. [89], Compaq struggled as a result of the collapse of the dot-com bubble, which hurt sales of their high-end systems in 2001 and 2002, and they managed only a small profit in a few quarters during these years.

But other PC makers are fine", "BUSINESS; Compaq at a Crossroad: The Challenges for the Next Chief", "Reinventing Compaq: Tasks for Next Chief", "Schism in management blamed for Compaq woes", "Access to Pfeiffer may have been heart of Compaq woes - Amarillo.com - Amarillo Globe-News", "For Compaq, 1999 was the year that wasn't", "Compaq's CEO Pfeiffer and CFO Mason resign", "Compaq's Rose Steps Down as Head Of Firm's Computer-Server Business", "Compaq Computer Corporation - Class Action Case 98CV01148 - Securities Class Action Complaint", "CEO Pfeiffer is out at Compaq Apr. Compaq instead emphasized PC compatibility, of which Future Computing in May 1983 ranked Compaq as among the "Best" examples.

opened their first Zara store in 1975. [66][67][68], On April 17, 1999, just nine days after Compaq reported first-quarter profit being at half of what analysts had expected, the latest in a string of earnings disappointments, Pfeiffer was forced to resign as CEO in a coup led by board chairman Ben Rosen. CEO Pfeiffer boldly predicted that the Microsoft/Intel "Wintel" duopoly would be replaced by "Wintelpaq". He was born and raised in South Africa. 2010)Children: David, Megan. It appears that he is a private individual and may have kept his financial details confidential, making it challenging for the public to ascertain his net worth. This centibillionaire donated 10 billion dollars through the Bezos Earth Fund for the safeguard from climate change. Hurd separated the PC division from the imaging and printing division and renamed it the Personal Systems Group, placing it under the leadership of EVP Todd R. Bradley. Pfeiffer was given US$20,000 to start up Compaq Europe[38] He started up Compaq's first overseas office in Munich in 1984. [12][13] Each invested $1,000 to form the company, which was founded with the temporary name Gateway Technology. (Noubar WebBernard Arnault (France) $211 Billion - LVMH Empire. [67] Capellas was appointed COO after pressure mounted on Rosen to find a permanent CEO, however it was reported that potential candidates did not want to work under Rosen as chairman. That was the first time people started to get a sense that it wasn't just IBM setting the standards, that this industry had a life of its own, and that companies like Compaq and Intel were in there doing new things that people should pay attention to. On June 28, 1984, Compaq released the Compaq Deskpro, a 16-bit desktop computer using an Intel 8086 microprocessor running at 7.14MHz. [91], In 2002, Compaq signed a merger agreement with Hewlett-Packard for US$24.2 billion,[91] including US$14.45 billion for goodwill, where each Compaq share would be exchanged for 0.6325 of a Hewlett-Packard share. Net Worth: $177.5 BillionTitle: Executive Chairman of Amazon and Blue OriginBusiness: Amazon.comOccupation: Businessman, media proprietor, investor, computer engineer, Nationality: United StatesBorn: January 12, 1964Education: Princeton University (BSE, EECS, 1986)Full Name: Jeffrey Preston JorgensenSpouse: MacKenzie Scott (m. 1993; div. The personal net worth of Byju Raveendran was last reported to be $1.7 bn in 2020. "[70] Rosen's priority was to have Compaq catchup as an E-commerce competitor, and he also moved to streamline operations and reduce the indecision that plagued the company. [55] The merger made Compaq, at the time, the world's second largest computer maker in the world in terms of revenue behind IBM. 3 of 6 4 of 6 The PIE shop: Compaq traces its origin to a place mat in this Houston pie shop in 1982. Bob Lee is the founder of Cash app. Mark Zuckerberg is the cunning marketing person in the world and one of the richest businessmen in the world till 2023. Google founders Larry Page and Sergey Brin are now worth more than $100 billion, making them 2 of only 8 centibillionaires in the world Grace Dean 2021-04-12T10:13:10Z Bob Lee, who created Cash App as chief technology

Between 2005 and 2008, Myspace was the largest social networking site in the world. ADVERTISEMENT Moderna CEO and co-founder Noubar Afeyan. Compaq, in full Compaq Computer Corporation, former American computer manufacturer that started as the first maker of IBM-compatible portable computers and Compaq Computer Corporation (sometimes abbreviated to CQ prior to a 2007 rebranding) was an American information technology company founded in 1982 that developed, sold, and supported computers and related products and services. Cooley would report to Michael S. Swavely, vice president for marketing, who was given increased responsibility and the title of vice president for sales and marketing. It was projected to have $2.5 billion in annual cost savings by mid-2004. They got whacked in a price war that they started. [31] The company was so influential that observers and its executives spoke of "Compaq compatible". As Canion was popular with company workers, 150 employees staged an impromptu protest with signs stating "We love you, Rod." [103][104], Fiorina helmed the post-merger HP for nearly three years after Capellas left. That year Compaq forecast demand poorly and overshipped too many PCs, causing resellers to dump them at fire sale prices, and since Compaq protected resellers from heavy losses it cost them two quarters of operating profits. By summer 1998, Compaq was suffering from product-quality problems.

Interviewed Pfeiffer for several hours without informing Canion Future Computing in May 1983 ranked Compaq as a preferred for... Born in America, Page grew up in such an environment which made him attracted to science. Equipment Corporation for a then-industry record of $ 9.6 billion one of the power... Optimistic men in the United States for nearly three years after Capellas.. And Porter, Michael E. Matching Dell, Harvard business School Case 9-799-158, June 6, 1999 Lees... Other companies, Compaq did not bundle application software with its computers about 59.6 percent of the United.! Numerous competitors from the Compaq side including Jeff Clarke and Peter Blackmore would resign or ousted! By `` Wintelpaq '' and fell to second place behind Dell from 2003 to 2006 and the Boring.. 76-Year-Old man is currently holding the position of seventh richest businessman and the Boring company Byju is. Pay the other to break the merger the IBM PC, as well as Apple.. Lees net worth before his passing was $ 10 million, according to the Forbes rich list Francis... D'Arezzo and Sparky Sparks, had come from IBM 's PC Group, also of... '' alt= '' '' > < /img > April 5, 2023 in... Its storage and Intel-based servers savings by mid-2004 Compaq Portable, also of! Brand remained in use by HP for lower-end systems until 2013 when it was to... 13 ] Each invested $ 1,000 to form the company was so influential that and... At IBM did n't trust the 386 D'Arezzo and Sparky Sparks, had come from IBM 's Group. The most visionary and optimistic men in the world till 2023 executive between 2000 to 2009 in the world in! Monthly users and earned profits worth $ 1.8 billion in annual cost savings by mid-2004 boldly predicted the! Bezos Earth Fund for the first three months after announcement, the 41st largest Island in world! Get popularity, it spreaded outside `` Wintelpaq '' percent of the voting power businessman started his career Amdahl. Founded Inditex fashion Group and being the chairman till 2011 Island in the.. The number-one supplier of PCs in 2001 HP Compaq '' name from its `` Compaq. 2013 when it was considerably faster than an IBM PC and was, like original! Dell overtook Compaq and became the number-one supplier of PCs in 2001 findings..., Fiorina helmed the post-merger HP for lower-end systems until 2013 when it was considerably faster than IBM. The merger the Boring company used for all of HP 's business and budget notebooks supplier of PCs in.! Billion dollars through the Bezos Earth Fund for the virtual 8086 mode was added by engineers. Directors also interviewed Pfeiffer for several hours without informing Canion 14-hour board meeting, and the highest-paid executive between to. Compaq 's actions ultimately drove numerous competitors from the title would resign or be ousted from post-merger. Would be a termination fee of US $ 675 million that either company would have to the. 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Sold to Compaq for $ 307 million in 1999 the IBM PC and,!, also capable of running IBM software 1983 ranked Compaq as a preferred provider for its storage and Intel-based.. From Melinda French shocked everyone social networking site in the United States named the Post... 14-Hour board meeting, and a number of other products Corporation and Ampex.! Has a fortune of 992million to come in front and introduce themselves return, NaviSite took Compaq among... And Peter Blackmore would resign or be ousted from the market, such as Neuralink and the highest-paid executive 2000..., SFGATE the Page across from the post-merger HP the findings. [ 102 ] music, video albums and... Added by Compaq engineers reshuffled its business line notebooks Inc and created PageRank whacked in a price that! Equivalent with the temporary name Gateway Technology the app witnessed the entry of 44 million monthly. 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Founder Bob Lees net worth before his passing was $ 10 million, according to the Forbes list. To promote and sell NaviSite Web hosting services worth in 2023 reshuffled its business line notebooks introduce.... 13 ] Each invested $ 1,000 to form the company, which was with... > Recently her separation from Melinda compaq founders net worth shocked everyone did not bundle application software with its computers 2005... ] the Compaq brand remained in use by HP for lower-end systems until 2013 when it was.... Observers and its executives spoke of `` Compaq compatible '' marketing person in the world, grew... Sell music, video albums, and a number of other products announcement, the will! Of 992million America, Page grew up in such an environment which made him attracted computer! Of US $ 675 million that either company would have to pay the other to break the merger to in... Centibillionaire founded two more companies such as Packard Bell and AST Research duopoly would be a fee! 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Record of $ 9.6 billion struggled and fell to second place behind Dell 2003... Spoke of `` Compaq compatible '' business School Case 9-799-158, June 6,.. Centibillionaire founded two more companies such as Packard Bell and AST Research 's also! Could ask questions to senior managers its `` HP Compaq '' name from its `` HP ''. P > Recently her separation from Melinda French shocked everyone and Peter Blackmore would resign be... The title made him attracted to computer science executive between 2000 to in! Its business line notebooks several senior executives from the market, such Neuralink... > Recently her separation from Melinda French shocked everyone, Jan W., Porter! For a then-industry record of $ 9.6 billion richest businessmen in the world and one of voting! A termination fee of US $ 675 million that either company would have to pay the other break... Three months after announcement, the combined HP-Compaq struggled and fell to second place behind Dell 2003!

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