Richard Egan (businessman)
- Richard Egan (businessman)
Richard (Dick) J. Egan (born 1930) is a co-founder of EMC Corporation.
History
A year after receiving a degree in electrical engineering from Northeastern University in 1962, he was on the team that helped develop Project Apollo memory systems for NASA. He is a notable alumnus of Northeastern and was a major donor to the state of the art Egan Engineering and Science Research Center on Northeastern's campus.
In 1979, he founded EMC with Roger Marino. Egan retired on January 17 2001 as Chairman Emeritus.
EMC went public in 1987 the Thursday before Black Monday. EMC sold stock on Thursday for $21.50, after Black Monday, EMC stock was at $16.
Following significant fundraising for George W. Bush's presidential campaign in 2000, Egan was one of 19 Bush Pioneers to become an ambassador. His sons Christopher and Michael are also Pioneers.
On March 14 2001, he was nominated by President George W. Bush to be the ambassador to Ireland for 15 months.
In its 2005 list of the richest Americans, Forbes ranked Richard Egan as the 258th richest American, with approximately $1.3 billion of net worth.
On March 26 2006 The Irish Times detailed the indictments of three people by the U.S. Attorney's Office in New York, including two KPMG senior partners accused of setting up tax shelters using Irish companies. The IRS claims that Egan invested $62million in the scheme, though would not disclose whether Irish firms were involved.
References and links
* [http://www.emc.com/about/management/egan.jsp?openfolder=management_team Curriculum vitae of Richard Egan]
* [http://www.state.gov/r/pa/ho/po/com/10886.htm State Department list of Ambassadors to Ireland]
* [http://www.whitehouse.gov/news/releases/2001/03/20010315.html White House Press Release of Richard Egan's nomination]
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