Who is Bob Young?
Bob Young is a Canadian entrepreneur and businessman who has made a name for himself in the tech industry. He is best known for co-founding Red Hat, a software company that specializes in open-source technology. Young was born on June 19, 1954, in Hamilton, Ontario, Canada. He graduated from Victoria College at the University of Toronto in 1976 with a degree in physics.
Bob Young's Career
After graduation, Young worked as a marketing representative for IBM Canada. In 1984, he co-founded Vernon Computer Rentals, which was eventually sold for $10 million in 1995. Young then co-founded Red Hat in 1993 with Marc Ewing. The company went public in 1999, and Young served as the CEO until 2001. He then became the chairman of the board until 2004.
Red Hat's Success
Under Young's leadership, Red Hat became one of the most successful open-source software companies in the world. The company's revenue grew from $5 million in 1998 to over $500 million in 2010. In 2018, Red Hat was acquired by IBM for $34 billion, making it one of the largest technology acquisitions in history.
Bob Young's Other Ventures
Aside from his work with Red Hat, Young has also been involved in other business ventures. In 2003, he co-founded Lulu.com, a self-publishing platform that allows authors to create and sell their own books. He also co-founded Hamilton Tiger-Cats, a Canadian Football League team based in Hamilton, Ontario.
Bob Young's Net Worth
As of 2021, Bob Young's net worth is estimated to be around $1 billion. This is largely due to his success with Red Hat, as well as his other business ventures. Young is also known for his philanthropic work, and has donated millions of dollars to charitable causes over the years.
Conclusion
Bob Young's success in the tech industry has made him one of the most influential entrepreneurs in Canada. His work with Red Hat helped to pave the way for open-source software, and his other ventures have also been successful. With a net worth of $1 billion, Young continues to be a prominent figure in the business world.