Trip Hawkins Net Worth
Trip Hawkins is an American businessman who is well-known for his work as the founder of the game publishing company Electronic Arts. He has a net worth of approximately $50 million. As a businessman, Hawkins has had multiple successes, including creating the best-selling game series “Madden NFL.” He is also the founder of the mobile gaming company Digital Chocolate.
Hawkins has several sources of income, including a personal luxury plane. He also owns four luxury cars and two lavish houses. He lives in Santa Barbara, California with his wife and children. Hawkins is married to Lisa Proctor Hawkins and they have four children together. Hawkins’ net worth has been reported to be around $120 million by 2022.
Hawkins was born in 1953 in Pasadena, California. He founded several companies, including 3DO Company, Digital Chocolate, and Electronic Arts. He was also a professor at the University of California, Santa Barbara, and he founded a company that sold for $40 million. He has never shared his height with the public, but according to Wikiquote, his net worth is at least $120 million.
In his early years, Hawkins worked at Apple as an employee and rose to the position of marketing director. In 1982, he co-founded Electronic Arts, a gaming company that is responsible for the popular Madden franchise and FIFA. Hawkins also helped launch the 3DO gaming company, but it filed for bankruptcy protection in 2003. Today, Hawkins is CEO of If You Can Games.
Hawkins allegedly did not pay all his taxes on stock sales. He participated in a complex tax sheltering arrangement, using offshore companies and options to offset gains. This scheme was orchestrated by the accounting firm KPMG, and attracted the attention of the IRS. Hawkins claims to have lost $56 million in the process.
Hawkins sold his home in Atherton, Calif., and sought to reduce child support payments to his first wife. While he made tax payments, the IRS found that he continued to make unreasonable expenditures. His expenses in 2005 totaled $94,900 per month. However, he has yet to file for bankruptcy.
Hawkins and his family spent beyond their means for years. The family eventually filed for Chapter 11 bankruptcy in 2006 and sold their house in Atherton and their beachfront condo in La Jolla. The proceeds were used to lower his tax bill. However, Hawkins says he is the victim of circumstances that were beyond his control.