Man behind PUBG-rival Fortnite is now worth $7 billion and has no plans to stop

By: |
New Delhi | January 3, 2019 1:37 PM

Fortnite is available on seven gaming platforms - Android, iPhone, PlayStation 4, Mac, Xbox One, Nintendo Switch, and PC

(Source: Epic Games website/Tim Sweeney Twitter)

Tim Sweeney whose company built Fortnite to rival PUBG is now worth over $7 billion. The Epic Games CEO now ranks 194 on Bloomberg annual list of the world’s 500 richest people.

Sweeney, however, hasn’t confirmed the amount himself. The number was decided on the presumed stock sale of Epic Games during a recent venture fundraising. Tim Sweeney, the founder of Epic Games, is best known for ZZT and the Unreal Engine.

Based on the list, Sweeney is worth an estimated $7.16 billion leaving behind names such as George Soros and George Lucas, however he is still eons below famous billionaires like Zuckerberg and Jeff Bezos.

Fortnite is free, no kidding!
And how did it come to be? Launched in 2017, Fortnite’s popularity grew steadily throughout 2018 and is now available on seven gaming platforms – Android, iPhone, PlayStation 4, Mac, Xbox One, Nintendo Switch, and PC. Fortnite can be played across all these, making it a first for video games.

The game is based on players versus the environment, with four players working together on various missions. Many call it a cross between Minecraft and Left 4 Dead.

With over 200 million players, the revenue generated from Fortnite should not come as a surprise. However, what does surprise many is the fact that the full game is free and without any hidden charges or even ‘locked’ content.

READ ALSO | The computer accessories firm Targus sharpens focus on India

The business model for Fortnite relies on selling virtual items for their characters that give no advantage in the game. This speaks for the game’s popularity itself as it shows that the user base is fairly happy with game.

More money for Epic Games!

However, Fortnite is not the only reason how Epic Games CEO Tim Sweeney made his money.

Epic Games makes fairly good money through Unreal Engine, which is a set of software tools that builds some of the world’s biggest games. When any game developer or a publisher sells games made with Epic Games’ Unreal Engine, the company gets its cut.

And he doesn’t want Epic Games to slow down either as evident by the company’s latest decision to start their own online game store to rival GOG and Steam.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Mega steel plant in Odisha to bring new wave of economic development, employment generation: Dharmendra Pradhan
2Google parent Alphabet developing device to give users superhuman hearing
3Correction in prices makes Delhi’s luxury residential properties attractive: HDFC