Gary Burrell was an influential figure in the world of technology, best known for co-founding Garmin and making a lasting impact on GPS navigation systems. As we delve into his financial journey, we’ll uncover how Gary Burrell built his wealth, explore his career path, and look at his role in Garmin’s success. With this analysis from WorldofCeos, we aim to give you an insightful look into Gary Burrell net worth, his salary, and his major contributions to the tech world.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Gary Leon Burrell |
| Popular Name | Gary Burrell |
| Gender | Male |
| Birth Date | August 24, 1937 |
| Age | 81 (Died: June 12, 2019) |
| Parents | N/A |
| Siblings | N/A |
| Birthplace | N/A |
| Nationality | American |
| Ethnicity | N/A |
| Education | Wichita State University, Rensselaer Polytechnic Institute |
| Marital Status | Married |
| Spouse | N/A |
| Children | Three |
| Dating | N/A |
| Net Worth | $1.9 billion (at time of death) |
| Source of Wealth | Garmin |
| Height | N/A |
What is the Net Worth Of Gary Burrell in 2024?
As of 2024, Gary Burrell net worth stands as a testament to his remarkable contributions to the tech world, particularly through Garmin, which he co-founded in 1989. With a fortune estimated at $1.9 billion, Gary Burrell remains one of the wealthiest individuals connected to the GPS industry. Although his wealth is significant, it’s interesting to see how his net worth compares to others in related industries. Below are some notable individuals and brands closely connected to his field:
- Min Kao
- Garmin
- Allied Signal
- Lowrance Electronics
- King Radio Corporation
- U.S. soldiers (Gulf War technology users)
- Wichita State University
- Rensselaer Polytechnic Institute
For a more comprehensive look at other business leaders and their wealth, check out the wealthiest individuals in the world through the richest tech leaders link on worldofceos.com.
Salary and Finance Overview
How He Built His Wealth Through Garmin
Gary Burrell’s wealth largely stems from his role as co-founder of Garmin. In 1989, he partnered with Min Kao to start the company, initially focusing on navigation devices for aviation and boating. Their breakthrough came during the Gulf War when U.S. soldiers relied on Garmin’s GPS technology, propelling the company into the spotlight.
Garmin expanded to provide automotive GPS systems by 1998, and the company went public in 2000. This shift was instrumental in growing Burrell’s wealth, as he held over 15% of the company’s shares and continued to benefit from its success long after stepping down as CEO in 2004.
His Early Career and Path to Success
Gary Burrell’s success story began with his education. He earned a degree in Electrical Engineering from Wichita State University and later pursued a master’s degree at Rensselaer Polytechnic Institute. Early in his career, Burrell worked for companies like Lowrance Electronics, King Radio Corporation, and Allied Signal, honing his skills in navigation technologies. These experiences paved the way for his later work with GPS technology at Garmin.
Key Partnerships That Drove His Success
A significant aspect of Gary Burrell’s success was his partnership with Min Kao, a fellow engineer. Together, they combined their expertise to form Garmin, a company that revolutionized GPS navigation for both military and consumer use. Their collaboration helped shape Garmin into a leading brand in global navigation technology.
Major Achievements and Contributions to Technology
Burrell’s contributions to GPS technology cannot be overstated. His work helped Garmin become a household name, expanding from military applications to everyday consumer products. By making GPS accessible to the average person, he transformed the way people travel and navigate. His achievements also include taking Garmin public, which helped increase the company’s market share and global presence.
His Role in Garmin’s Expansion and Innovation
Under Burrell’s leadership, Garmin continued to innovate, developing new products and services that expanded its reach beyond aviation and boating into automotive and wearable technology. Garmin’s customer service model, which emphasized face-to-face interaction, also played a key role in its success and growth. Burrell’s vision and leadership ensured that Garmin stayed ahead of the curve, continuously adapting to changing market demands.
His Impact on Global Navigation and Aviation
Gary Burrell’s impact on global navigation cannot be ignored. His work with Garmin allowed pilots, sailors, and everyday consumers to navigate with precision and ease. The introduction of GPS technology into consumer markets forever changed how people travel, making his contributions critical to modern-day transportation and aviation.
Philanthropic Work and Personal Legacy
Beyond his financial success, Gary Burrell was known for his philanthropic work. He was a significant donor to Indian Creek Community Church in Kansas, and his personal legacy reflects his dedication to both his community and the advancement of technology. His success allowed him to give back in meaningful ways, ensuring his legacy would endure both in technology and philanthropy.
FAQs About Gary Burrell
What was Gary Burrell’s contribution to GPS technology?
He co-founded Garmin and played a pivotal role in developing GPS devices for aviation, boating, and consumer markets.
Who was Gary Burrell’s business partner at Garmin?
His business partner was Min Kao, with whom he co-founded Garmin in 1989.
What were the early industries Gary Burrell worked in before founding Garmin?
He worked in electrical engineering for Lowrance Electronics, King Radio Corporation, and Allied Signal.
Where did Gary Burrell receive his education?
He studied Electrical Engineering at Wichita State University and completed a master’s degree at Rensselaer Polytechnic Institute.
How did Garmin influence navigation in the Gulf War?
Garmin’s GPS devices were used by U.S. soldiers during the Gulf War, despite not having a military contract, which highlighted their effectiveness.
What charitable contributions did Gary Burrell make?
He was a significant donor to Indian Creek Community Church in Kansas and other philanthropic causes.
How did Gary Burrell’s career at Garmin evolve?
He served as CEO until 2004 and later became Chairman Emeritus, overseeing Garmin’s continued growth and innovation.
What was Gary Burrell’s role in Garmin’s public offering?
He helped take Garmin public in 2000, which increased the company’s value and cemented its place in global markets.
Conclusion
Gary Burrell’s life and career offer valuable insights into the growth of technology and business. Share your thoughts, leave a comment, or explore more about tech leaders at worldofceos.com.
