| Category | Information |
|---|---|
| Net Worth | $300 million |
| Salary | N/A |
| Birthdate | May 9, 1969 |
| Birthplace | N/A |
| Gender | Male |
| Height | N/A |
| Profession | Retired Software Engineer |
| Nationality | American |
What is Marc Ewing’s Net Worth?
Marc Ewing, a retired American software engineer, has a net worth of $300 million. He is best known for creating and originating the Red Hat software brand, which focuses on open-source enterprise software and Linux operating system distributions.
Highlights
- Marc Ewing’s net worth is estimated to be $300 million.
- He gained recognition as the creator of the Red Hat software brand.
- Red Hat is known for its open-source enterprise software and Linux operating system distributions.
Early Life
Marc Ewing was born on May 9, 1969. During his time at Carnegie Mellon University, he became known for wearing a red hat around campus, earning him the nickname “the man with the red hat.” His reputation for computer expertise attracted fellow students seeking technical assistance.
Career
After graduating from college in 1992, Marc began developing what later became Red Hat Linux. In May 1995, he released the beta version of the open-source Linux distribution. Marc sold his software to entrepreneur Bob Young the same year, and they merged Bob’s Linux software catalog business with Red Hat Linux to create Red Hat Software. Bob Young served as CEO, while Marc Ewing took on the role of Chief Technology Officer.
Red Hat introduced a business model that offered open-source software for free or at a low cost, generating revenue through fees for further development, quality assurance, and customer support. The company became the first open-source technology firm to surpass $1 billion in annual revenue.
In 1999, Red Hat went public, experiencing significant stock gains during the dotcom bubble. However, Marc stepped down from Red Hat that same year.
Over time, the value of Marc Ewing’s net worth fluctuated in alignment with Red Hat’s stock performance. At its peak, Marc owned 9 million shares, valued at $900 million. However, after the dotcom bubble burst, the stock price dropped dramatically, reducing the value of his shares to $27 million. The stock eventually recovered to hover in the $25 range for several years.
In 2018, Red Hat’s stock soared to over $150 per share when IBM expressed interest in acquiring the company. In July 2019, IBM acquired Red Hat for $34 billion.
Personal Life
N/A
Net Worth Over Time
Marc Ewing’s net worth saw significant fluctuations throughout his career, largely influenced by the performance of Red Hat’s stock. At its peak, his 9 million shares were valued at $900 million, only to drop to $27 million after the dotcom bubble burst. The stock eventually stabilized, with the company’s acquisition by IBM in 2019.
Components of Net Worth
Marc Ewing’s net worth is primarily derived from his ownership of shares in Red Hat and the successful sale of the company to IBM. The exact composition of his net worth beyond these factors is unknown.
Disclaimer: All net worths mentioned in this article are calculated using data drawn from public sources and should be taken as estimates. Corrections and additional information are welcomed.