Cisco and the Forbes 400 richest people in America

Cisco and the Forbes 400 richest people in America
Yesterday, Forbes revealed a new list of the 400 Richest Americans. To be listed, an individual was required to have a net worth of at least $1.3 billion. Curiously, the following six billionaires on the list have a "tie-in" with Cisco or its competition: Michael Krasny - net worth: $1.6 billion Founder of CDW a Cisco Gold Partner Forbes duly notes:

Michael Krasny
Auto dealer's son started used computer sales operation in kitchen after his $3, 3-line ad in the Chicago Tribune to sell old IBM generated high demand. Turned $300 profit on second sale. Founded Computer Discount Warehouse 1984; company became one of world's most profitable resellers of tech products. Retired 2001; company bought by private equity firm Madison Dearborn Partners for $7.3 billion last October. Donated more than $350 million in CDW shares to charity.

John Morgridge - net worth: $1.6 billion Chairman emeritus of Cisco Forbes duly notes:

John Morgridge
U. of Wisconsin grad started career at Honeywell, joined networking firm Cisco as president and chief executive in 1988. Took the company public 2 years later. Increased sales from $5 million to more than $1 billion in 6 years. Stock soared dramatically during the tech bubble. Firm briefly the world's largest; market cap was $555 billion in 2000 but dwindled to $70 billion by the end of 2002 as the bubble burst. Became chairman emeritus 2006. Fortune continues to falter; stock down 38% since last August. With wife, Tashia, has donated $50 million to alma mater, pledged to give up to $175 million.

Richard Egan - net worth: $1.4 billion Cofounder of Cisco competitor EMC Forbes duly notes:

Richard Egan
Marine helicopter pilot worked at Lockheed Martin, Honeywell, Intel before cofounding data storage giant EMC Corp. 1979. Took company public 1986; sold most of his shares in tech boom. Stepped down as chairman 2001. Big GOP supporter served as U.S. ambassador to Ireland during President Bush's first term. Forced to pay IRS $62 million in 2006. They claim he used an illegal tax shelter.

Patrick McGovern - net worth: $4.1 billion Founder of the International Data Group (owner of Network World and the Cisco Subnet) Forbes duly notes:

Patrick McGovern
Construction worker's son feeling pinch of publishing industry slowdown. Studied biophysics at MIT while working for first U.S. computer magazine, Computers & Automation; made associate publisher by graduation. Founded International Data Group 1964; launched trade magazine Computerworld 3 years later. Now has more than 300 magazines, trade shows, 450 Web sites. Last year sales rose 6% to $3.2 billion. Gives away stock options to employees, despite having no desire to take IDG public. Company has invested $950 million in venture capital companies in China, $150 million in India, $100 million in Vietnam, $100 million in Korea. Created McGovern Institute for brain research at alma mater.

Martha Ingram - net worth: $2.8 billion Owner of Cisco authorized distributor Ingram Micro Forbes duly notes:

Martha Ingram
Widow of Bronson Ingram took over Ingram Industries in 1995. Bronson inherited his father's oil-and-barge business 1963. Today Nashville company is nation's largest distributor of books, magazines, print on demand. Merged book and print-on-demand divisions in June to form Ingram Lightning Group. Son David runs spinoff Ingram Entertainment: CDs, DVDs. Original barge business led by son Orrin; president, chief executive of Ingram Industries. Son John chairman for entire operation. Martha now retired; Vassar grad and performing arts buff prominent in Nashville society.

Jerry Yang - net worth: $1.7 billion Member of the Cisco Board of Directors and Cofounder/CEO of Yahoo! Forbes duly notes:

Jerry Yang
Why didn't he take the money? Yahoo chieftain saw his stock languish for years, then pop 45% after Microsoft tried to snatch company up for $44.6 billion to take on Google in search. Balked at hostile takeover attempt; shareholder activist Carl Icahn led proxy battle to replace board, oust Yang as chief executive. Settled weeks later; Icahn and 2 friends now on expanded board. Stock down 39% since original Microsoft offer. Met partner David Filo in grad school at Stanford, turned Internet directory project into Web portal Yahoo. Left Ph.D. track 1995, took public a year later. Brought in "professionals": Tim Koogle in 1995, former Warner Bros. boss Terry Semel 2001. Agreed to ad partnership with Google in June following Microsoft debacle; Yahoo will post Google ads alongside Yahoo's search results.

Did we miss anybody?

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