Patrick Joseph McGovern
Patrick Joseph McGovern Jr. | |
|---|---|
| Born | 11 August 1937 Queens, New York, U.S. |
| Died | 19 March 2014 (aged 76) |
| Occupation | Entrepreneur |
| Known for | Founder of International Data Group (IDG) |
Patrick Joseph McGovern Jr. (August 11, 1937 – March 19, 2014) was an American entrepreneur and the creator of International Data Group (IDG), a multinational enterprise operating in technology media, market research, event coordination, and venture capital investment.
By September 2013, he was listed among the wealthiest Americans on the Forbes 400, with an estimated net worth of $5.1 billion.
Biography
During the 1950s, McGovern secured a college scholarship by developing a tic-tac-toe program that could not be defeated. While attending MIT as a sophomore, he contributed to the student publication The Tech. He completed his studies at MIT in 1959, earning a degree in biology and life sciences.
His career began as a writer for the computer magazine Computers and Automation. In 1964, he launched International Data Corporation (IDC), which focused on compiling a computer industry database and producing the newsletter EDP Industry & Market Report. After facing initial financial setbacks, he revamped the newsletter into the weekly newspaper Computerworld in 1967. Subsequently, following unsuccessful efforts to gain control over Computers and Automation, he introduced the magazine PC World.
In 1980, McGovern initiated one of the earliest joint ventures between American and Chinese companies. By 1997, Forbes reported that IDG's readership in China surpassed that of the People's Daily. In 1991, IDG published "DOS For Dummies," which marked the beginning of the widely popular "For Dummies" book series. At the time of his passing, Bloomberg noted that IDG reached 280 million regular readers and generated annual revenues amounting to $3.6 billion.
Personal life
Born in Queens, New York, McGovern’s family relocated to Philadelphia during his youth. He started working early by delivering newspapers at age eight. He experienced one divorce and was father to two children as well as two stepchildren. He divided his residence between Hillsborough, California and Hollis, New Hampshire. Alongside his second wife, he contributed $350 million to MIT to establish the McGovern Institute for Brain Research. He served as a trustee for both MIT and its Whitehead Institute for Biomedical Research, and was a board member of the Society for Science & the Public.
At the time of his death, his survivors included his wife, Lore Harp McGovern, son Patrick McGovern, daughter Elizabeth McGovern, stepdaughters Michelle Harp Bethel and Dina Jackson, plus nine grandchildren.
Death
In May 2012, he underwent open-heart surgery at the Cleveland Clinic. He passed away on March 19, 2014, at age 76.
IDG legacy
After his death, ownership of IDG was transferred to the McGovern Foundation. In 2016, this foundation enlisted Goldman Sachs to investigate potential sale options. On March 29, China Oceanwide Holdings Group finalized its purchase of International Data Group, Inc. ("IDG"). Later in June 2021, IDG changed hands again when it was acquired by The Blackstone Group for $1.3 billion.
Further reading
External links
- Comprehensive Official Biography
- Announcement from MIT regarding the McGovern Institute
- Official website of the McGovern Institute for Brain Research
- Pat McGovern feature Guest appearance on WMBR's Dinnertime Sampler radio program, November 3, 2004
- Pages with script errors
- Articles with short description
- Articles with hCards
- No local image but image on Wikidata
- 2014 deaths
- 1937 births
- American computer businesspeople
- American billionaires
- Massachusetts Institute of Technology School of Science alumni
- Businesspeople from the San Francisco Bay Area
- Place of death missing
- People from Hillsborough, California
- People from Hollis, New Hampshire