Net Worth:
$845 million +9%
Last Year:
$775 million
Age:
58
Residence:
Los Angeles
Source of Wealth:
Computer software
The Money:
Founder and former chief executive of software developer Candle Corp. Now serves as chief executive of National Center for Crisis and Continuity Coordination, better known as NC4, a crisis management software maker he spun off from Candle that is gaining customers. Has begun venture investing in the last few years though his Ignition Capital LLC.
Buzz:
NC4 in the post 9/11 era appears to have found a ready market among governments and businesses seeking to improve disaster response and crisis management capabilities. Clients have included Dept. of Homeland Security, the State of Michigan’s emergency management division and the Super Bowl. Last June acquired ESP Group LLC, a Virginia-based application service provider that specializes in secure internet portals. Meanwhile, Ignition Capital in January acquired a 6.5 percent stake in Vividas Group Plc, a U.K. developer of video technology. Earlier invested $3.5 million in conservative Internet blog site Pajamas Media. Los Angeles native grew up in Canada and earned chemistry degree from University of Manitoba. As student, developed software for Manitoba government. Candle was founded in 1976 and developed landmark software to monitor IBM mainframes. At its height was one of the largest independent software venders in the world, its products used by 75 percent of Fortune 500 companies. Sold Candle to IBM Corp. in 2004 for $641 million. Founded the Candle Foundation in 1982 to aid medical research, hunger and homelessness. Launched PC Works in 1995 to teach inner-city youth and young adults to refurbish computers and peripherals, donating the systems to nonprofits.
