⬅ # 479 Mike Adenuga|# 481 Rakesh Mittal

# 480 Scott Cook 

$6.56B

Real Time Net Worth
as of 5/18/2024
$55.6M (0.85%)

# 480 Scott Cook 

$6.56B

Real Time Net Worth
as of 5/18/2024
$55.6M (0.85%)
OccupationCofounder and Chair, Intuit
Source of WealthSoftware
Age71
ResidenceWoodside, California
Marital StatusMarried
Children3
EducationMBA, Harvard Business School; BS, University of Southern California
Age-Adjusted Net Worth$3.12B
Scott Cook
Scott Cook
United States
Net worth: $6.56B

Self-Made Score 

Wealth History

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Biography

Overview

Scott David Cook was born in 1952 in the United States.
He holds a bachelor's degree in economics and mathematics from the University of Southern California.
Cook earned his MBA from Harvard Business School.
Cook co-founded Intuit, a financial software company, in 1983.
He served as Intuit's president and CEO from April 1983 to April 1994.
Cook has been the chairman of Intuit from February 1993 to July 1998 and remains in that position.
He is also a director of eBay and Procter & Gamble.
Cook and his wife, Signe Ostby, are philanthropists, supporting education and various causes through their family foundation, Valhalla.

Career Highlights

Before founding Intuit, Cook worked at Procter & Gamble, where he gained experience in product development, market research, and marketing.
He also worked in strategic consulting at Bain & Company in Menlo Park, California.
Cook's idea for Intuit came from his observation of the potential for personal finance software while trying to address his wife's complaints about paying bills.
He launched Quicken, Intuit's flagship product, in 1983.
In 2002, Cook and his wife established the Center for Brand and Product Management at the University of Wisconsin–Madison School of Business.
Cook has made significant donations to political causes, supporting politicians from both major parties.

Personal Life and Philanthropy

Scott Cook is married to Signe Ostby, who also has a background in business, having worked for Procter & Gamble and Clorox.
The couple has three children and resides in Woodside, California.
They founded the Valhalla family foundation, which focuses on various areas including education, medical research, and environmental innovation.
Cook and Ostby are also involved in managing a ranch that engages in livestock farming and breeding show jumping horses.

Legacy and Impact on Intuit

Cook's leadership at Intuit has been instrumental in its growth into a multinational business software company.
Under his tenure, Intuit has developed products like TurboTax, QuickBooks, and Mint, which have become household names.
The company's focus on innovation and addressing customer needs has contributed to its success.
Intuit's expansion into various financial services reflects Cook's vision for the company.
Despite facing competition and legal challenges, Intuit has maintained its position as a leader in financial software.
Cook's contributions to academia through the establishment of educational centers highlight his commitment to developing future business leaders.

How long would it take you to become as rich as Scott Cook?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Scott Cook's net worth of $6.56B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Scott Cook is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Scott Cook, Software is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey