To Epic Systems founder Judy Faulkner, it’s never been just about the money.
For that reason, the CEO of Wisconsin’s largest information technology company has decided to leave most of her holdings of the closely held company in a charitable foundation following her death. The foundation would operate and fund not-for-profit organizations in healthcare and other areas.
“Nearly every share of stock that I own will be put in there,” Faulkner told Modern Healthcare in a story posted Tuesday.
Faulkner, 71, joked that the donation might come earlier, however.
“It could be triggered before that, if I wish, or when I die, which could be hundreds of years from now,” quipped Faulkner adding she is in great health.
With an estimated net worth of $2.8 billion, Faulkner came in at No. 239 on Forbes 400 list of the wealthiest Americans last year. It’s unclear how much Epic Systems is worth but the company reported gross revenues of $1.77 billion in 2014.
Faulkner said creating a foundation makes the most sense for handling that kind of money.
“One, I didn't want the money, personally, or for my family,” Faulkner told Modern Healthcare. “What would you want with all that money? It doesn't seem right and I can't tell you why. (We're) putting it into a trust that can be used for the benefit of healthcare organizations, other exempt organizations and our communities. We can use it to (help) other charitable organizations that have contributed to our success. Because that's where it came from.”