GoDaddy founder and executive chairman Bob Parson resigns

Bob_Parsons
Yesterday, GoDaddy filed for a $100 million IPO and now its founder and executive chairman Bob Parsons has resigned. Parsons is leaving GoDaddy to focus on more interests outside of the company. Parsons, 63, is going to spend more time on philanthropy through The Bob & Renee Parsons Foundation. Parsons is also growing his investment company YAM Worldwide.

 

YAM runs several Harley-Davidson dealerships, golf investments, and real estate investments. According to Forbes, Parsons is worth nearly $2 billion. He sold the majority of GoDaddy back in 2011 to private equity companies KKR, Silver Lake, and TCV. When he sold the company, he stepped down from the CEO position. Parsons is still the largest GoDaddy shareholder with 28.1%. KKR and Silver Lake each have 28% ownership.

GoDaddy was not Parson’s only success. Parson started a software company in his basement in 1984 called Parsons Technology. He sold Parsons Technology to Intuit for $64 million. Some of that money was used to build GoDaddy. Parsons is a Vietnam War veteran that received three medals, including a Purple Heart. Parsons’ charity organization supports education and medical causes in Haiti and the greater Phoenix area.

The organization also supports wounded vets and has award over $46 million in grants. This past December, Parsons signed Giving Pledge, an organization where wealthy individuals vow to give over half their money to charity.

[Source: BusinessInsider]

 

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