Epic Games Net Worth [The Gaming Giant Behind Fortnite]

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Industry:Video Games
Net Worth/Valuation:$32 billion
Latest Revenue:$1.2 billion (2021)
Year Founded:January 15, 1991
Public/Private Company:Private
Notable Shareholders:Tim Sweeney (Founder, CEO)

Epic Games is Frequently Associated With

Net Worth of Epic Games

The company Epic Games is currently valued at roughly $32 billion. The latest revenue reported for the year 2021 was $1.2 billion, much of that being from one of the most popular games ever produced, Fortnite Battle Royale. The company has been around for over 30 years and is continuously growing and acquiring intellectual property.

Epic Games is Best Known For

Epic Games is quite easily best known for Fortnite Battle Royale at the moment. It’s a battle royale game launched in 2017 that followed in the footsteps of another one called PlayerUnknown’s Battlegrounds (PUBG).

It currently boasts around 30 million users per day and 3 to 4 million concurrent players at any given time. It still undergoes active changes and updates and has no sign of slowing down anytime soon.

Epic Games – The Beginning

Epic Games was created by Tim Sweeney in 1991 under the name Potomac Computer Systems in his parents’ house while he was going to school at the University of Maryland to study for becoming a mechanical engineer. Potomac Computer Systems was originally a computer consulting business, but after Tim Sweeney made some analysis, he realized it would be too much work to keep the company running and scraped the idea.

Upon publishing his first game ZZT, Sweeney decided to use Potomac Computer Systems to take his game public and eventually changed the company’s name to Epic MegaGames, Inc until 1999 when it was shortened to just Epic Games.

About the Founder of Epic Games

Tim Sweeney is the founder and CEO of Epic Games. He was born in 1970 and created the Unreal Engine that is so widely used in today’s video game industry. He grew up in Potomac, Maryland and attended the University of Maryland, where he got his degree in mechanical engineering. He himself has a net worth of over $7 billion.

What is Unreal Engine?

Epic Games is also known for creating Unreal Engine, which is a 3D graphics engine that was used to produce the FPS game Unreal back in 1999. Since then, this engine has been used to make countless top-tier games such as:

  • Final Fantasy VII (the remake)
  • Playerunknown’s Battlegound (PUBG)
  • Valorant (Riot Games)
  • Gears of War

Unreal Engine’s technology was also used to help produce shows such as Westworld and The Mandalorian.

Epic Games Battle with Apple and Google

In 2020, Epic Games release a discount via their store for Fortnite in-game currency which encouraged the user to bypass Apple and Google’s app store to purchase from Epic Games directly. This caused Apple and Google to remove Fortnite from their app stores, citing a breach of contract.

In late 2020, Epic Games filed a lawsuit with Apple and subsequently with Google. The judge ended up ruling against Epic Games and not only ordering them to pay Apple $3.6 million in lost revenue but also banning Epic Games from publishing on Apple app store in the future.

Epic Games received massive support from other companies, agreeing that Apple’s 30% cut of revenues for any apps listed in the store is ridiculously high. As a result of the trial, Apple made the decision to lower their fees to 15%.

Who has been EA Games’ CEO?

EA (Electronic Arts) Games has had several CEOs throughout its history. Here are some of the notable ones:

Trip Hawkins (1982-1991): Hawkins founded EA in 1982 and served as its CEO for the first nine years.

Larry Probst (1991-2007): Probst took over as CEO in 1991 and oversaw a period of rapid growth for the company.

John Riccitiello (2007-2013): Riccitiello was named CEO in 2007 and led the company through a period of significant change and expansion.

Andrew Wilson (2013-present): Wilson took over as CEO in 2013 and has continued to lead the company in its efforts to create and distribute some of the most popular video games in the industry.

Fortnite: Developed by Epic Games itself, Fortnite is a free-to-play battle royale game that has taken the gaming world by storm. It features a unique building mechanic and frequent updates, making it a constantly evolving experience.

Rocket League: A high-energy combination of soccer and cars, Rocket League became a massive hit after its release. Players control rocket-powered vehicles to play soccer, and its fast-paced gameplay attracted a large player base.

Grand Theft Auto V: Rockstar Games’ critically acclaimed open-world action-adventure game was available on the Epic Games Store, drawing in a significant number of players.

Among Us: Developed by InnerSloth, Among Us gained immense popularity as a party game where players work together on a spaceship while trying to identify the impostors among them.

Hades: This action-packed roguelike game from Supergiant Games received widespread praise for its art, gameplay, and storytelling.

Cyberpunk 2077: Despite its controversial launch, CD Projekt Red’s Cyberpunk 2077 garnered a lot of attention for its ambitious open-world setting and narrative-driven gameplay.

Borderlands 3: Gearbox Software’s loot-driven first-person shooter brought a continuation of the popular Borderlands series to the Epic Games Store.

Assassin’s Creed Valhalla: Ubisoft’s historical action-adventure game allowed players to step into the shoes of a Viking raider in 9th-century England.

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