In 2016, he won the North Dakota gubernatorial election. He was reelected in 2020. He briefly was a candidate for President in the 2024 race. He is widely speculated to be a top choice for Donald Trump’s Vice President, along with businessman Vivek Ramaswamy and Senator J.D. Vance.
Great Plains Software
In 1981, two entrepreneurs in Fargo, North Dakota, founded a software company called Great Plains Software. In 1983 Burgum, who at the time was an associate at consulting firm McKinsey, was the first outside angel investor in Great Plains. According to legend, he leveraged his share of a 160-acre farm he inherited to come up with the $250,000 he invested. So, as he likes to joke, Doug “literally bet the farm.” A year later, he left McKinsey to become Great Plains’ President. Under his leadership, Great Plains went public in 1997 at a $200 million valuation. In 2001, Doug contacted his former Stanford classmate Steve Ballmer, who had recently become CEO of Microsoft, about a potential acquisition. Microsoft subsequently acquired Great Plains for $1.1 billion in stock. Burgum’s cut of the sale was 1.7 million shares of Microsoft, which at the time were worth $100 million. Had he held onto his shares, today, they would be worth more than $1 billion. Unfortunately, thanks at least partially to a 2003 divorce, by 2006, Doug had sold 80% of his Microsoft shares. He transferred 200,000 shares of Microsoft to his ex-wife as part of their divorce settlement. According to a 2023 financial disclosure, today, he owns between $500,000 and $1 million worth of Microsoft shares.
Atlassian
In 2012, Doug was recruited to serve on the board of directors of software company Atlassian. Upon joining the board, Doug purchased 700,000 shares for an average of $4 a share. Today he owns between $5 million and $25 million worth of Atlassian, according to his financial disclosure.
Real Estate
Doug’s real estate portfolio includes properties in North Dakota, Montana, Minnesota, and Florida.
