Mark Hurd Net Worth

Mark Hurd’s Net Worth: A Look at the Life and Legacy of a Tech Titan

Mark Hurd, a prominent figure in the technology sector, left behind a legacy of business acumen and leadership. This article delves into Mark Hurd’s net worth, career trajectory, and the impact he made on the companies he led. We’ll explore his early life, his rise through the ranks at NCR, his transformative leadership at HP, and his later role at Oracle, offering a comprehensive look at the life of this influential businessman.

Early Life and Education

Mark Vincent Hurd was born on January 1, 1957, in Manhattan, New York. He came from a privileged background, with a debutante mother and a father who was a financier. Hurd’s upbringing provided him with a solid foundation, and he excelled academically and athletically. After graduating high school in 1975, Hurd attended Baylor University in Waco, Texas, where he received a tennis scholarship. He joined a fraternity and studied business administration, earning a Bachelor’s degree in 1979.

NCR: Building a Foundation

Hurd’s professional journey began in 1980 at the NCR Corporation, where he started as a junior salesman. Over the next two and a half decades, he climbed the corporate ladder, gaining experience in various roles, including general management, operations, sales, and marketing. He played a significant role in the Teradata data-warehousing division, leading this operation for three years. In 2001, Hurd was appointed president of NCR and later became the chief operating officer (COO) in 2002. By the end of his tenure at NCR, he served as the president and CEO for two years. His leadership at NCR significantly improved operational efficiency, supported the product line, and cultivated a strong leadership team. Under his guidance, NCR’s revenue increased by 7 percent in 2004, with a net income of $290 million.

HP: Leading the Tech Giant

In 2005, following the resignation of Carly Fiorina, Mark Hurd was appointed as CEO and President of Hewlett-Packard (HP). He was elected to the board of directors and, in 2006, also took on the title of chairman. Hurd’s leadership was marked by significant successes. By 2006, HP became the world leader in laptop sales, and a year later, it achieved the same status in desktop computer sales. Furthermore, HP increased its market share in inkjet and laser printers to 46% and 50.5%, respectively, by 2008. Despite the 2008 recession, Hurd managed to increase HP’s revenue by 63% and double the company’s stock price. He was also praised for his role in integrating HP with Compaq. However, his tenure was also marked by controversial cost-cutting measures, including laying off over 15,000 employees (10% of HP’s workforce) and implementing a 5% pay cut for all employees in 2008, while simultaneously increasing his bonus.

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Resignation and Controversy

In 2010, Hurd resigned from HP amidst an investigation into a potential violation of the company’s sexual harassment policy. Although cleared of sexual abuse allegations, the investigation revealed inaccuracies in his expense reports. HP later expressed regret at having pressured Hurd to resign, indicating that the situation could have been handled differently. The circumstances surrounding his departure remain a point of discussion.

Oracle: A New Chapter

From 2010 until his death in 2019, Hurd served as the co-CEO of the Oracle Corporation. He initially joined as president and was appointed to the board of directors. Following his departure from HP, a lawsuit was settled where Hurd agreed to give up half of his remaining compensation from his former company. One of his first moves at Oracle was to expand the salesforce and initiate a program to recruit and train college students as sales representatives. In 2014, Hurd became co-CEO alongside Safra Catz, with a primary focus on cloud computing. Under their leadership, Oracle’s cloud division grew by 82%, and over $5 billion was invested in cloud technology research and development. The company also acquired several cloud computing companies, solidifying its commitment to a Software as a Service (SaaS) business model.

Salary and Net Worth

At the time of his passing, Mark Hurd’s base salary at Oracle was approximately $2.4 million. His total annual compensation often reached around $40 million. In 2018, Hurd earned $108 million from various income sources. In 2008, his total compensation at HP was almost $40 million, which included a cash bonus of nearly $24 million, the largest bonus for any CEO that year. His net worth at the time of his death was estimated to be $150 million.

Personal Life

Mark Hurd’s personal life included two marriages. His first marriage was to Elizabeth A. Butler in 1980, which ended in divorce in 1987. He later married Paula Kalupa, and their marriage lasted until his death in 2019. Together, Hurd and Kalupa had two children. His family life provided a balance to his demanding career.

Legacy and Death

In 2019, Mark Hurd announced a leave of absence for health reasons, without specifying the nature of his illness. Safra Catz took over as the primary manager during his absence. Hurd passed away in 2019 at the age of 62. Multiple sources reported that his cause of death was cancer. Mark Hurd’s legacy includes his significant contributions to the technology industry, particularly his leadership roles at NCR, HP, and Oracle. He is remembered for his strategic vision, his ability to drive growth, and his impact on the companies he led. His achievements and the businesses he transformed continue to be studied and analyzed.

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