What is Doug Burgum Net Worth? – Douglas James Burgum, born on August 1, 1956, is an American entrepreneur and politician who currently serves as the 33rd governor of North Dakota.
He is a member of the Republican Party and has gained recognition as the president and angel investor of Great Plains Software. Furthermore, he is an aspiring candidate for the 2024 United States presidential election.
Doug Burgum was raised in the small town of Arthur, North Dakota, where he spent his early years. After completing his college education in 1983, he took a mortgage on his inherited farmland to invest in Great Plains Software.
Within a year, he assumed the role of company president and successfully expanded Great Plains into a prominent software enterprise. In 2001, Burgum sold the company to Microsoft for a staggering $1.1 billion.
During his tenure at Microsoft, he also oversaw Microsoft Business Solutions and held board chair positions at Atlassian and SuccessFactors. Apart from his software ventures, Burgum founded Kilbourne Group, a real estate development firm based in Fargo, and co-founded Arthur Ventures, a software venture capital group.
Despite lacking prior political experience, Doug Burgum decided to enter the Republican primary for the 2016 North Dakota gubernatorial election. Surprisingly, he defeated Wayne Stenehjem, a longtime Attorney General and the endorsed Republican candidate, in the primary election.
In the subsequent general election, he secured a resounding victory over the Democratic nominee Marvin Nelson. Burgum was reelected with a significant margin in 2020. In June 2023, he formally filed to run for the 2024 Republican presidential nomination, signaling his aspirations for the nation’s highest office.
During his academic years at Stanford, Doug Burgum forged a friendship with Steve Ballmer, who later became the CEO of Microsoft. He pursued his business studies at Stanford University Graduate School of Business and obtained an MBA degree in 1980. In recognition of his achievements, he received honorary doctorates from North Dakota State University in 2000 and the University of Mary in 2006.
Doug Burgum is known for his philanthropic endeavors, including support for the Plains Art Museum. In 2001, he donated a refurbished school building to North Dakota State University, which became Renaissance Hall, housing various departments and offices. Additionally, he established the Doug Burgum Family Fund in 2008, focusing on charitable initiatives related to youth, education, and health.
On December 15, 2016, Doug Burgum was sworn in as the 33rd governor of North Dakota, alongside his running mate Brent Sanford, the state’s 38th lieutenant governor. Notably, Burgum has set a unique goal for North Dakota to become carbon-neutral by 2030, despite maintaining a strong fossil fuel industry. His strategy involves utilizing carbon capture and storage technology, as well as supporting carbon dioxide usage for enhanced oil recovery and implementing agricultural practices that store carbon in soil. This ambitious goal has attracted significant private sector investment.
Under Burgum’s leadership, the Vision Zero project was established in collaboration with the North Dakota Department of Transportation in 2018. As a result, traffic-related fatalities in North Dakota have reached record lows. In March 2023, he vetoed a bill aiming to raise the state’s interstate speed limit to 80 mph. Additionally, Burgum selected Tammy Miller, his chief operating officer, as the successor to Brent Sanford after his resignation as lieutenant governor.
Burgum, along with other North Dakota officials, has expressed opposition to a Minnesota law that mandates carbon dioxide-free electricity. They have even threatened to sue Minnesota over this legislation. Governor Tim Walz of Minnesota signed the bill into law on February 7, 2023.
With his eye on the national stage, Burgum announced his interest in running for the presidency in the 2024 United States presidential election in March 2023. On June 7, 2023, he made the official announcement of his campaign through a video on his Twitter account, accompanied by the launch of a campaign website and a rally scheduled to be held in Fargo.
What is Doug Burgum Net Worth?
His net worth was estimated to be over $1 billion.
Burgum’s entrepreneurial journey began when he mortgaged his inherited farmland in 1983 to invest in Great Plains Software. In 2001, Burgum made a significant move by selling Great Plains Software to Microsoft for a staggering $1.1 billion, which substantially contributed to his wealth.
Following the sale, Burgum continued his involvement in the business world. He served as the manager of Microsoft Business Solutions while working at Microsoft and held positions as the board chairman for Atlassian and SuccessFactors.
In addition to his entrepreneurial pursuits, Burgum embarked on a political career, becoming the 33rd governor of North Dakota in 2016.
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