82-year-old CEO grew a $7.8 billion fortune from company shares—now she’s selling stock to charity and signed Bill Gates’ pledge to give away 99%
82-year-old CEO grew a $7.8 billion fortune from company shares—now she’s selling stock to charity and signed Bill Gates’ pledge to give away 99%
Monthly ‘work church’ meetings and grammar lessons in themed Epic buildings
Other companies with unique offices and unconventional meeting philosophies
Emma Burleigh is a
CEOs with major controlling stakes in their billion-dollar companies have the power to make themselves richer and richer, but one 82-year-old tech leader isn’t cashing in for herself. Judy Faulkner, the CEO of Epic Systems, has been selling her nonvoting shares back to the company—and redirecting the profits elsewhere.
“I’ve never cashed a single share for myself,” Faulkner recently told CNBC.
On paper, Faulkner is worth $7.8 billion, thanks to her 43% stake in Epic. The health software firm is one of the largest private tech players in the U.S., pulling in $5.7 billion in annual revenue. But the CEO, who was born in the Silent Generation, isn’t looking to grow her nest egg. In fact, she’s trying to get rid of it.
In 2015, Faulkner signed the Giving Pledge (a philanthropic organization helmed
In 2020, Roots & Wings granted $15 million to 115 organizations around the U.S. focused on the health, education, and well-being of families, and last year Faulkner’s foundation estimated it would give $67 million to 305 organizations, according to Forbes. But the Epic CEO is determined to off-load more of her wealth faster, steadily increasing giving rates until Roots & Wings reaches its goal of $100 million every year as early as 2027. To manage the massive outflow of her money from selling Epic shares, Faulkner set up a trust to govern the stock sell-back process in order to not destabilize the company.
Only nine of the 256 billionaires who signed the Giving Pledge are actually following through with their promise.
Fortune reached out to Epic Systems for comment.
While billionaire interest in signing the Giving Pledge has waned in recent years as many CEOs, including Elon Musk and Jeff Bezos, hoard their fortunes, Faulkner is marching to the beat of her own drum. And that’s not the only way she’s defying conventional leadership in the tech world. The CEO described as a “female cross between Bill Gates and Willy Wonka”
Epic Systems’ massive 1,670-acre campus in Wisconsin is nothing like the futuristic or modern headquarters of other billion-dollar Silicon Valley tech companies.
Each of the 28 buildings on the company’s sprawling campus has a fantastical theme, ranging from The Wizard of Oz and Alice in Wonderland to the Harry Potter franchise. They’re then grouped into mini campuses, including Prairie Campus, Wizards Academy, and Storybook Campus, with the offices designed
The grounds are adorned with a metal wizard standing guard of a castle, chocolate chips leading to a fake chocolate factory, and a hanging bridge that leads to a tree house. And inside, the rooms are filled with tchotchkes and paintings that Epic employees help
And once a month inside Epic’s underground auditorium, called Deep Space, the business holds a mandatory
Epic Systems isn’t the only company with an office set-up unlike most others.
Non-profit health care provider Wellstar Health System doesn’t try to keep workers happy with ping pong tables and beer on tap. The Fortune 500 company’s offices include “wellness rooms,” complete with massage chairs, relaxing music, and healthy snacks to keep its 28,000 workers happy. The offerings have proved popular with employees, as turnover fell
Understood, a nonprofit that provides re
And other CEOs don’t like their meetings to be so buttoned-up, just like Faulkner. Amazon founder Bezos thrives in chaos; the tech leader said he only wants “crisp documents” and “messy meetings” that go in all different directions. Bezos encouraged his workers to show the “ugly bits” of decision-making in these meetings—and despised the conversations being “rehearsed” ahead of time.
“I’m very skeptical if the meetings are not messy,” Bezos said at the 2024 New York Times DealBook Summit.
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Claire Dubois
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