David Packard Net Worth and Philanthropy

David Packard was an American electrical engineer, entrepreneur, and philanthropist who co-founded Hewlett-Packard with Bill Hewlett in 1939. At the time of his death in 1996, his net worth was $4 billion, equivalent to $6.6 billion today.

Aside from his career in technology, Packard was well-known for his philanthropic efforts. In 1964, he and his wife Lucile established the David and Lucille Packard Foundation, which received the bulk of his $4 billion estate when he passed away. Today, the foundation’s assets are worth more than $8 billion, making it one of the 20-largest foundations in the US.

Throughout his life, Packard was dedicated to giving back to his community. In the early 1980s, he began to focus more on philanthropy, eventually donating $40 million to establish the Lucile Packard Children’s Hospital at Stanford University in 1986. He also donated $77 million to establish the David Packard Electrical Engineering Building at Stanford in 1994.

Bill Hewlett, Packard’s co-founder, was also dedicated to philanthropy. He founded The William and Flora Hewlett Foundation in 1966, and when his wife Flora died in 1977, she left a grant of $300 million to the foundation. Today, the foundation controls $10 billion in assets.

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