Net Worth: $400 Million
Category: Richest Politicians › Republicans
Profession: Businessman, investor, philanthropist, politician
Birthdate: August 1, 1956 (68 years old)
Birthplace: Arthur, North Dakota, U.S.
Doug Burgum is an American politician, entrepreneur, and philanthropist whose fortune stems from his leadership in the tech industry and astute investments. Rising from a farming background, Burgum became a pivotal figure in the software world with his transformative role at Great Plains Software, which he sold to Microsoft for $1.1 billion in 2001. He later transitioned into politics, serving as the Governor of North Dakota since 2016.
Sources of Wealth
1. Great Plains Software
Doug Burgum’s journey to wealth began with Great Plains Software, a company founded in Fargo, North Dakota, in 1981. Burgum became its first outside investor in 1983, leveraging his inheritance from a 160-acre farm to invest $250,000—a move he humorously describes as “betting the farm.”
- Key Milestones:
- Became President of Great Plains Software in 1984.
- Took the company public in 1997 at a valuation of $200 million.
- Negotiated a $1.1 billion acquisition by Microsoft in 2001, receiving 1.7 million Microsoft shares, valued at $100 million at the time.
Although Burgum sold most of his Microsoft shares by 2006, partially due to a divorce settlement, he still retains between $500,000 and $1 million worth of Microsoft stock as of 2023.
2. Atlassian
In 2012, Burgum joined the board of directors at Atlassian, a leading software company. He purchased 700,000 shares at $4 per share, cementing his position as a savvy investor.
- Current Stake: Valued between $5 million and $25 million, as per his 2023 financial disclosure.
3. Real Estate
Burgum has built an impressive real estate portfolio, including properties in:
- North Dakota
- Montana
- Minnesota
- Florida
Political Career
Burgum entered politics in 2016, successfully running for Governor of North Dakota. He won reelection in 2020 and briefly ran for the 2024 U.S. Presidential race. His name has been floated as a potential Vice Presidential pick for Donald Trump, alongside Vivek Ramaswamy and J.D. Vance.
Early Life and Education
Doug Burgum was born in Arthur, North Dakota, to a farming family. He graduated from North Dakota State University with a degree in business and later earned an MBA from Stanford University. His entrepreneurial spirit emerged early, culminating in his bold investment in Great Plains Software.
Business Acumen
Burgum’s legacy as a business leader is characterized by:
- Transforming Great Plains Software into a market leader.
- Negotiating its record-breaking sale to Microsoft.
- Smartly diversifying his investments post-Microsoft.
Notable Highlights
- Microsoft Sale: His shares from the Great Plains sale, originally worth $100 million, could have exceeded $1 billion today had he retained them.
- Philanthropy and Investments: Burgum’s contributions extend beyond tech, with significant investments in startups and public service.
- Governorship: Leveraging his business expertise, Burgum emphasizes economic development and innovation in North Dakota.
Conclusion
Doug Burgum’s net worth of $400 million reflects his remarkable journey from a small-town farmer to a tech visionary and influential politician. His investments, entrepreneurial ventures, and leadership in both business and politics have solidified his status as one of America’s wealthiest public figures.
