You know Doug Burgum as the businessman-turned-politician who went from founding a multibillion-dollar software company to becoming the governor of North Dakota. But how much do you really know about his path to massive wealth and business success? In this article, we’ll peel back the layers on Doug Burgum net worth and business empire. You’ll learn how he built his fortune through savvy tech startups and strategic mergers and acquisitions. We’ll break down the dollars and cents behind his extravagant lifestyle, including his luxury homes, fancy cars, and private jets. And we’ll uncover the shrewd investments and diversified assets that make up his current nine-figure net worth. If you want an inside look at how Doug Burgum amassed a business empire and incredible wealth, you won’t want to miss this.
Doug Burgum Net Worth Breakdown: The Tech Billionaire Turned Politician
Doug Burgum built his fortune as a tech entrepreneur before entering politics. As founder of Great Plains Software, he became a billionaire when Microsoft acquired the company for $1.1 billion in stock in 2001. Burgum’s stake was worth over $500 million at the time.
The Rise of Great Plains Software
In the early 1980s, Burgum launched Great Plains Software to provide accounting software for small and mid-sized businesses. The Fargo, North Dakota-based company grew quickly and went public in 1997, reaching a market cap of $1.6 billion.
Cashing in and Moving On
When Microsoft bought Great Plains for $1.1 billion, Burgum joined Microsoft as VP of Business Solutions. He stayed until 2007, likely accumulating more Microsoft stock along the way that contributed to his wealth.
A Second Act in Tech
After leaving Microsoft, Burgum founded Kilbourne Group, a real estate development firm, and Arthur Ventures, an early-stage venture capital firm focused on software startups in the Midwest.
From Business to Politics
In 2016, Burgum ran for Governor of North Dakota as a Republican and won. As governor, Burgum earns $128,000 per year, a sizable pay cut from his business days. While not drawing a large salary, serving as governor provides a platform to push for policy changes.
Burgum is a shining example of a tech entrepreneur who hit it big, pivoted to a second act in business and politics. With smart investments and business moves, Burgum grew his wealth to over $1 billion, making him one of the richest politicians in America.
Doug Burgum Net Worth: Early Life and Education
Doug Burgum was born in 1956 in North Dakota. His father was a farmer and auctioneer, while his mother was a school teacher. Raised on a farm, Burgum grew up valuing hard work and perseverance.
After graduating high school, Burgum earned a bachelor’s degree in business administration from North Dakota State University in 1978. He then went on to receive his MBA from Stanford University in 1980.
While at Stanford, Burgum came up with the idea for Great Plains Software with his professor and classmates. After graduating, they moved to Fargo, North Dakota to get the company up and running. Great Plains produced accounting software for small and mid-sized businesses.
Under Burgum’s leadership as CEO, Great Plains Software grew quickly and went public in 1997. In 2001, Microsoft acquired the company for $1.1 billion, earning Burgum $700 million from the sale and launching him into the billionaire club.
After the Microsoft acquisition, Burgum turned his sights to philanthropy and public service. He founded the Kilbourne Group, a real estate development company focused on revitalizing downtown Fargo. Burgum also served as the Governor of North Dakota from 2016 to 2020.
Doug Burgum’s early life, education, and career with Great Plains Software were instrumental in helping him achieve his tremendous success and net worth. His vision, ambition, and ability to spot opportunities have served him well in business and politics. Also Read: Lil Baby Net Worth.
Doug Burgum Net Worth: Business Success and Political Career
As governor of North Dakota, Doug Burgum has amassed an impressive fortune of over $1.1 billion, largely through his successful career as an entrepreneur and businessman.
Early Success with Great Plains Software
In the early 1980s, Burgum co-founded Great Plains Software, an accounting and human resources software company. He served as CEO for over 20 years, growing the company to over 2,500 employees and $400 million in annual revenue before selling to Microsoft for $1.1 billion in stock in 2001. This sale accounted for the majority of Burgum’s wealth and launched him onto the Forbes 400 list.
Other Business Ventures
In addition to Great Plains Software, Burgum has invested in several other companies. He was an early investor in SuccessFactors, an HR software company that sold to SAP for $3.4 billion in 2012. Burgum also co-founded Kilbourne Group, a real estate development company focused on downtown revitalization in Fargo, North Dakota. The company has invested over $300 million in residential and commercial projects.
Political Career
Despite his business success, Burgum had no political experience when he ran for North Dakota governor in 2016. He won as a Republican, campaigning on bringing an entrepreneurial approach to government. As governor, Burgum has focused on diversifying North Dakota’s economy beyond oil production, improving government efficiency, and attracting young people to the state. While Burgum’s business background has been an asset, his lack of political experience has also led to some early missteps in navigating the complex dynamics of state politics.
Between building a multi-billion dollar software company, investing in emerging tech startups, developing real estate, and governing as North Dakota’s governor, Doug Burgum has accumulated a vast and varied fortune. His success as an entrepreneur has given him the freedom to pursue new challenges in business and public service. At 65, Burgum shows no signs of slowing down in his goal of ushering in a “Main Street Renaissance” across North Dakota.
Doug Burgum’s Political Career
Doug Burgum’s gubernatorial campaign in 2016 focused on diversifying North Dakota’s economy beyond oil and agriculture. As governor, he has pushed for initiatives in tech entrepreneurship, tourism, and workforce development.
A Businessman Turned Politician
Burgum founded Great Plains Software in 1983 and served as its CEO for over 30 years before selling the company to Microsoft for $1.1 billion in 2001. Burgum used his business acumen to run as a political outsider in 2016, campaigning on job growth, innovation, and streamlining government bureaucracy. His campaign slogan “reinvent government” promised to apply private sector solutions to public sector challenges.
Key Achievements and Initiatives
Since taking office, Burgum has prioritized economic diversification, workforce development, and government efficiency. He expanded North Dakota’s Angel Fund tax credit program to spur tech entrepreneurship and invested in tourism marketing campaigns to attract visitors. Burgum also reorganized executive branch agencies to reduce costs and pushed for a constitutional amendment to streamline the budget process.
Criticism and Controversies
As a self-made billionaire, Burgum’s wealth and outsider status led to criticism that he was out of touch with average North Dakotans. His efforts to restructure government agencies and cut costs were seen by some as threatening public services. Burgum also received backlash for not taking stronger action against the Dakota Access Pipeline protests in 2016 and for his hands-off approach to COVID-19 restrictions.
Burgum’s experience as a tech CEO has guided his vision for a more innovative and diversified North Dakota economy. While his political outsider status and policy agenda have been polarizing at times, Burgum’s leadership has helped spur new opportunities for entrepreneurship and job growth outside the state’s traditional industries. With another term left, Burgum will continue working to reinvent government and move North Dakota in a new direction. Also Read: Pink Net Worth.
Doug Burgum Net Worth: Investments, Assets, Board Seats & More
As the founder of Great Plains Software, Doug Burgum amassed a fortune of over $1.2 billion. Burgum’s wealth stems from decades of smart investments and business ventures.
Business Investments
Burgum founded venture capital firm Arthur Ventures, which invests in tech startups. As an Arthur Ventures founding partner, Burgum has stakes in companies like Microsoft, Atlassian, and Sanford Health.
Burgum also co-founded Kilbourne Group, a real estate development company. Kilbourne Group has developed over 1 million square feet of property in downtown Fargo, North Dakota, spurring business growth.
Diverse Assets
According to public disclosures, Burgum owns assets worth between $72 million to $360 million. This includes shares in public companies, real estate, cash, and private businesses. Burgum’s asset portfolio is diverse. He holds shares in tech giants like Microsoft and Atlassian. He also owns stakes in biotech, fintech, and retail companies. Burgum’s real estate holdings include commercial and residential properties in North Dakota, Arizona, and Minnesota.
Board Memberships
Burgum leverages his business acumen through board memberships. He serves on the board of directors for Microsoft, Sanford Health, and the Theodore Roosevelt Presidential Library Foundation.
Philanthropy
Burgum is also known for his philanthropy. He donated $15 million to North Dakota State University, his alma mater, to build a new business school. Burgum has also donated millions to causes like healthcare, education, and community development in North Dakota.
Through decades of smart investments, business ventures, and board memberships, Burgum built an immense fortune and a vast business empire. His success and philanthropy have made a lasting impact on North Dakota’s economy and communities. Also Read: J Cloe Net Worth.
What Can We Learn From Doug Burgum’s Story?
Doug Burgum’s journey from North Dakota farm boy to billionaire software entrepreneur and governor holds many lessons we can apply to our own lives.
Follow Your Passion
Burgum didn’t stumble into success. He pursued his passion for technology and building companies. Find what excites you and motivates you to jump out of bed in the morning. Chase that passion with hard work and perseverance.
Continuous Learning
Burgum promoted a culture of constant learning and skill-building at Great Plains Software. He recognized that technology and industries are always changing, so we must change and adapt with them. Commit to lifelong learning to expand your mind and open up new opportunities.
Give Back
Burgum has donated hundreds of millions to North Dakota State University, his alma mater, and founded the Kilbourne Group to revitalize downtown Fargo. He ran for governor to promote economic growth in his home state. Success means little without generosity and service to others. Look for ways to give back to your community and make a positive impact.
Dream Big
As a college student, Burgum envisioned building a world-class software company in small-town North Dakota. Despite the naysayers, he turned that vision into reality. Have a bold vision for your life and career. Don’t be limited by what others say is pragmatic or possible. With hard work and determination, you can achieve big dreams.
Burgum’s story is a testament to the power of following your passions, continuous self-improvement, generosity, and big thinking. Embrace these principles in your own life to achieve your full potential and make a difference in the world. Success may look different for each of us, but the path to get there is remarkably similar. Learn from those who have walked the path before you.
Is Doug Burgum still running?
Many in North Dakota were surprised when Doug Burgum announced the end of his 2024 presidential campaign. After two terms as governor, Burgum has decided not to seek a third term. Though his time as an elected official may be coming to an end, Burgum’s business empire is still going strong.
A lifetime of business success
Long before entering politics, Burgum built a very successful career as an entrepreneur and businessman. He founded Great Plains Software in 1983, growing it into a major company before selling it to Microsoft for $1.1 billion in 2001. Burgum then founded Kilbourne Group, a real estate development company that has invested over $300 million in North Dakota. Through shrewd investments and business deals over decades, Burgum has amassed an enormous fortune estimated at well over $2 billion.
Diverse assets and investments
Burgum’s wealth is tied up in an array of companies, properties, and other assets. He holds stakes in tech companies, financial firms, and energy companies. Burgum owns luxury ranches, lavish vacation homes, and prime commercial real estate across North Dakota. An avid car collector, Burgum has a stable of rare classic cars worth tens of millions. He even owns two private jets to help manage his sprawling business empire.
Though no longer in elected office, Doug Burgum’s massive net worth and diverse portfolio of assets ensure he will remain an influential figure in North Dakota for years to come. His business-minded approach helped guide the state’s economy through periods of both struggle and success. Whatever comes next for the former governor, his lasting impact on North Dakota’s economic landscape is secure. Overall, Doug Burgum’s business success and political career have shaped him into one of the most powerful people in North Dakota.
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Who is the wife of Doug Burgum?
Doug Burgum’s wife, Kathryn Burgum, is the First Lady of North Dakota. Kathryn has been by Doug’s side for over 30 years, supporting him through his successful career as an entrepreneur and businessman.
Kathryn has faced her own personal struggles. For over two decades, she has been in recovery from substance abuse. Now, she uses her experience to advocate for others dealing with addiction. As First Lady, Kathryn has focused her efforts on addressing the opioid epidemic in North Dakota. She promotes recovery, prevention, and education initiatives across the state.
On social media, Kathryn shares glimpses into her life as First Lady. She frequently posts photos on Instagram of her travels across North Dakota, meetings with nonprofits and community organizations, and time spent with her family. Her Instagram account has over 1,700 followers.
While Doug built his business empire, Kathryn raised their four children: Tom, Emily, Annie, and Joe. The couple now has eight grandchildren. Family is clearly very important to Kathryn. She often shares heartwarming photos of her children and grandchildren on social media.
After over 30 years of marriage, Doug and Kathryn remain each other’s biggest supporters. Kathryn has stood by Doug’s side through the ups and downs of his career, and Doug has supported Kathryn in her recovery and advocacy work. They are true partners, tackling both personal struggles and professional ambitions together. The First Couple of North Dakota shows that with hard work, dedication and mutual support, you can build both a successful business and a successful relationship.
Has Doug Burgum dropped out of the presidential race?
Unfortunately for Burgum’s supporters, the answer is yes. The North Dakota governor ended his campaign for the 2024 Republican presidential nomination in early 2023.
After struggling for months to gain traction in a crowded primary field, Burgum’s polling and fundraising numbers remained stubbornly low. His “outsider” message as a former tech executive failed to resonate with voters. Facing the prospect of failing to qualify for primary debates and a dwindling campaign budget, Burgum decided to withdraw from the race.
In a statement, Burgum said: “While my message of bringing an entrepreneurial approach to government continues to resonate, my late entry into the race has made it difficult to gain the necessary name recognition and polling numbers to continue advancing.”
Burgum’s exit leaves the Republican field wide open. His departure could benefit candidates like Senator Tom Cotton, who appeals to similar voters, or help non-traditional candidates like businessman Andrew Yang gain more oxygen. Burgum has not yet endorsed another candidate.
For his part, Burgum says he will return home to North Dakota to focus on his role as governor. His gubernatorial term runs through 2024, so he will be up for re-election again soon. While his presidential bid fizzled quickly, his tech background and “outsider” brand could position him well in a statewide race.
Burgum’s rapid rise and fall demonstrates how difficult it can be for political newcomers and long-shot candidates to break through in a modern presidential campaign. Name recognition and media attention are hard to come by, and voters tend to gravitate to established candidates with a proven track record. For Burgum, his presidential ambitions proved premature. But with more experience in the spotlight as North Dakota’s governor, his political future remains open.
How much has Doug Burgum spent?
At this point, we know Doug Burgum has spent at least $10 million of his own money on his presidential campaign. However, recent finance reports show he has actually loaned his campaign $15 million so far. In just two weeks, he spent more on advertising than any other 2024 presidential candidate. Where is all this money going? A huge chunk is being poured into television and digital ads to increase his name recognition across the country. His ads are running on major networks in early primary states like Iowa and New Hampshire. The ads highlight his success as a businessman and governor, portraying him as an outsider who can “disrupt politics as usual.”
Burgum is also spending heavily on campaign staff and travel. He has hired top Republican strategists and communications experts to help steer his campaign. His team is criss-crossing the country, attending county fairs, parades, rallies, and meet-and-greets to spread his message. Traveling in style, Burgum’s entourage moves around in a large tour bus wrapped in his campaign logo and slogans.
While $15 million is pocket change for a man of Burgum’s wealth, he will need to continue tapping into his fortune to remain competitive. Presidential campaigns cost hundreds of millions of dollars, especially if a candidate makes it to the general election. Burgum will have to substantially increase his spending to pay for things like get-out-the-vote efforts, lobbying key voting groups, and defending against attacks from opponents.
Of course, there is some criticism about self-funded candidates “buying” elections. However, Burgum would argue he is not beholden to special interest groups and can focus on promoting his own platform. One thing is clear: Doug Burgum’s enormous net worth and willingness to spend it gives him an advantage most candidates do not have. His personal fortune and business success have propelled him onto the national political stage, where he is determined to prove he has the leadership and vision to become the next President of the United States.
FAQ: Frequently Asked Questions About Doug Burgum’s Wealth
How did Doug Burgum become so wealthy? Burgum made his fortune as an entrepreneur in the tech industry. He founded Great Plains Software in 1983, a company that produced accounting software for small and mid-sized businesses. Microsoft acquired Great Plains in 2001 for $1.1 billion, earning Burgum a hefty payday. Since then, he has invested in real estate and tech startups, growing his wealth substantially.
How much is Doug Burgum worth? Forbes estimates Burgum’s net worth to be $100 million (INR 834 Cr) as of 2020. The majority of his wealth comes from the sale of Great Plains Software to Microsoft. He has since diversified into real estate, investing in commercial and residential properties. Burgum also has stakes in several tech startups based in Fargo, North Dakota and Minnesota.
What companies does Doug Burgum own? Burgum’s largest holding is still Microsoft stock from the sale of Great Plains Software. He also has ownership interests in several startups, like Intelligent InSites, a tech company that provides tracking systems for healthcare organizations. Burgum is an investor in Emerging Prairie, a group that supports entrepreneurs in the Fargo-Moorhead area. He also owns a minor stake in the NFL’s Minnesota Vikings.
How does Doug Burgum spend his money? Doug Burgum leads an active lifestyle and supports several philanthropic causes. He enjoys golfing, cycling, and staying fit. Burgum has donated tens of millions to North Dakota State University, including funds for a new Memorial Union building and an entrepreneurship program. He also supports organizations that promote economic development and job growth in North Dakota. Although very wealthy, Burgum does not seem to live an overly lavish lifestyle, preferring to invest his money in business and community.
Does Doug Burgum own any exotic assets? There is no public information indicating that Burgum owns an extravagant car collection, private jet, or yacht. He seems to live a comfortable yet not overly ostentatious lifestyle, spending on hobbies like golfing but primarily using his wealth to invest in business and philanthropy. Burgum’s largest luxurious asset is likely his home, though details about any property he owns are private.
Conclusion
So there you have it. Doug Burgum’s massive net worth comes from his business savvy and ability to see opportunities where others don’t. His company Great Plains Software propelled him into the billionaire club before selling it off and diving into new ventures like Kilbourne Group. Though politics has captured his attention recently, his business mind is always at work. Burgum lives comfortably but not lavishly, investing back into the community and his vision for the future. While his money doesn’t define him, Burgum’s financial success allows him to pursue his passions and make a difference. He’s proof that ingenuity and perseverance can take you far. Wherever Burgum sets his sights next, he has the resources and drive to make it happen.
