David Packard Net Worth

David Packard Net Worth $1.5 Billion

David Packard, born in September 7, 1912, was the co-founder of Hewlett-Packard (1939), where he served as president (from 1947, to 1964), CEO (1964–1968), Board Chairman (1964–1968, 1972–1993), and as U.S. Deputy Secretary of Defense (1969–1971) during the Nixon administration. When Nixon entered The White House (January 1969), one of his first mandates was to nominate the HP co-founder as Deputy Secretary of Defense. 

david packard

The nomination came at the height of the Vietnam War and was refuted immediately by members of Congress. They complained about this being a major conflict of interest for him, because he was one of the biggest Defense Department contractors in the entire world; over $100 million were spent by the Government every year on the company (Hewlett-Packard). It’s an interesting fact, and quite ironic, because it turns out that Hewlett-Packard’s first product was a sound oscillator, and it was sold to Walt Disney Studios for the soundtrack of Fantasia. Also, it is amazing that Packard and Hewlett established HP in Packard's garage with a minimal initial capital, and his legendary garage later became a landmark, known to many as “The Birthplace of Silicon Valley”. He became one of the most powerful people in the technology industry, and one of the first people to register a domain name (www.hp.com). He died on March 26, 1996 with an estimated net worth net worth is of $1.5 Billion.

william hewlett and david packard

David Packard with HP co-founder William Hewlett

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