International Data Group (IDG) founder Patrick McGovern passes away
Patrick J. McGovern, the billionaire founder behind International Data Group, has passed away at the age of 76. He passed away at the Stanford Hospital in Palo Alto, California. The cause is unknown. IDG runs 180 print publications and 460 websites including PCWorld, Computerworld, InfoWorld, and TechWorld. The company also oversees 700 industry conference including Macworld. IDG hits around $3.6 billion in annual revenues and reaches around 280 million regular readers of its publications.
“Pat’s foremost desire was for IDG to make the world a better place through the medium of information technology,” stated IDG chairman Walter Boyd. “He created a unique workplace where we have the outstanding leadership team in place to ensure that the company he created will continue to grow and prosper.”
McGovern’s net worth was estimated to be at around $6.5 billion. This made him the 205th richest person in the world and 66th richest in the U.S.
IDG is also well known for putting together the “For Dummies” serious of books, which was spun off later. This series is now published by John Wiley & Sons Inc.s
McGovern started Internation Data Corp. (unit of IDG now) in 1964 for compiling statistics on the computer industry. The first magazine was introduced three years later, which was Computerworld.
Patrick and his wife Lore pledged $350 million over 20 years to launch the McGovern Institute for Brain Research at MIT.