Mark Hurd Net Worth 2024

What is Mark Hurd’s Net Worth and Salary?

Mark Hurd was an American businessman who had a net worth of $150 million on the time of his dying in 2019. Hurd was in all probability greatest identified for performing because the co-CEO for the Oracle Corporation, on the time of Mark’s passing, the Oracle Corporation was the second-largest software program firm on the planet. Before taking up his position on the Oracle Corporation, Hurd had acted because the Chairman, CEO, and president of Hewlett-Packard. In addition, Mark was generally known as an extremely influential determine throughout the know-how trade, and he was a member of the Technology CEO Council till 2010. After Mark’s passing in 2019, numerous sources claimed that he had died from most cancers.

Early Life

Mark Vincent Hurd was born on January 1st of 1957 in Manhattan, New York. Mark was born into an upper-class family, as his mom was a debutante and his father was a financier. After graduating from highschool in 1975, Hurd attended Baylor University in Waco, Texas. He was in a position to attend Baylor as a result of a tennis scholarship that he obtained throughout his highschool years. While at Baylor, Mark joined a fraternity and studied enterprise administration, finally graduating with a Bachelor’s diploma in 1979.

NCR

Mark gained employment proper out of college with the NCR Corporation, beginning in 1980. He started his journey with NCR as a junior salesman. Over the years, he labored his approach up the company ladder, holding positions generally administration, operations, gross sales, and advertising. He proved particularly instrumental to the corporate’s Teradata data-warehousing division, serving as head of this operation for 3 years.

In 2001, it was introduced that Hurd can be the brand new president of NCR. In 2002, he additionally took on the position of chief working officer (COO). By the top of his journey with NCR, had served because the president and CEO of NCR for 2 years. During his 25 yr profession at NCR Corporation, his management led to profitable enchancment in working effectivity. Mark supported the product line and constructed a robust management crew. NCR’s income was up by 7 % over the earlier yr in 2004, and web revenue rose to $290 million.

HP

When HP’s CEO Carly Fiorina was compelled to resign in 2005, a gap was created for Hurd to step in. After Robert P. Wayman acted as a short lived CEO for just a few months, Mark was appointed the everlasting CEO and was additionally given the title of President. That being mentioned, he was elected to the board of administrators with out being designated as the brand new chairman. This was one thing of a rarity in HP’s historical past. However, in 2006 he took this title as effectively after the controversial resignation of Pat Dunn.

Hurd’s management was profitable. Throughout his tenure, Mark helped HP grow to be the world chief in laptop computer gross sales by 2006. A yr later, HP was additionally the world chief in desktop laptop gross sales. In 2008, Hewlett-Packard additionally dramatically elevated its market share within the inkjet and laser printers gross sales to 46% and 50.5%, respectively. Despite the specter of a recession in 2008, Hurd managed to lift HP’s income by 63% and double the corporate’s inventory value.

Hurd was additionally praised for serving to combine HP with Compaq. On the detrimental facet, Mark was identified to put off hundreds of staff in an effort to save cash. During his tenure, he laid off greater than 15,000 staff. This represented 10% of HP’s complete workforce. Not solely that, however he imposed a 5% paycut on all staff through the 2008 whereas taking away advantages. Somewhat controversially, he accepted a 20% pay minimize throughout this era whereas concurrently growing his bonus by precisely the identical quantity.

Resignation

In 2010, Hurd resigned from HP amidst an investigation into a possible violation of the corporate’s sexual harassment coverage. Although Mark was cleared of all sexual abuse allegations, the investigation inadvertently revealed that he had submitted inaccurate expense experiences. Later, HP expressed remorse at having pressured Hurd to resign.

Oracle

From 2010 to 2019, Mark served as CEO of the Oracle company. He initially received the roel of president and was appointed to the board of administrators. Although HP then sued Hurd violated agreements meant to guard its secrets and techniques, the lawsuit was quickly settled when Mark agreed to surrender half of all compensation nonetheless owed to him by his former firm.

One of Hurd’s first actions as president of Oracle was to extend its salesforce. He additionally initiated a program to rent college college students and switch them into gross sales reps. In 2014, Mark grew to become the brand new co-CEO of Oracle alongside Safra Catz. The two CEOs then centered closely on cloud computing over the subsequent few years, rising this division of the corporate by 82%. Katz and Hurd additionally invested over $5 billion into cloud know-how analysis and growth. In 2016, each CEOs oversaw acquisitions of varied cloud computing firms, representing a long-term concentrate on an SaaS enterprise mannequin.

Death

In 2019, Mark Hurd introduced that he was happening go away for well being causes. He by no means specified what sort of well being considerations he was coping with. Co-CEO Safra Catz stepped up and took a extra central position in managing the corporate in Hurd’s absence. In 2019, Hurd handed away on the age of 62, and numerous sources reported that the reason for dying was most cancers.

Relationships

Mark Hurd’s first spouse was Elizabeth A. Butler. The pair had been married in 1980, however they in the end divorced in 1987. Hurd then married Paula Kalupa, and their relationship would proceed till his passing in 2019. During their marriage, Hurd and Kalupa had two youngsters collectively.

Salary

At the time of his passing, Hurd’s base wage was round $2.4 million. In any given yr, he was identified to earn round $40 million from all sources of compensation. In 2018, he earned $108 million from all of his numerous revenue sources. In 2008, Hurd’s whole compensation at HP was virtually $40 million. This included a money bonus of virtually $24 million – the biggest bonus for any CEO throughout 2008.

Real Estate

In 2005, Mark and his spouse bought a house in Atherton, California. He spent $7.1 million on the house, and it later elevated in worth to about $8 million.