Any guy between the ages of 10 and 40 with a pulse and a Wi-Fi connection will tell you that summer 2018 is all about Fortnite, the enormously popular battle royale video game that has swept the country over the last year. Teenagers, rappers, and athletes alike are enamored with the free multiplatform game, spending hours watching broadcasts, customizing their avatars, and collaborating with celebrities to win.
Tim Sweeney, the originator, is secretly benefitting from it all.
Epic Games’ 47-year-old CEO is reaping the benefits of the Fortnite craze. According to Celebrity Net Worth, Sweeney is reputedly worth $75 million, counting since the game just reached the billion-dollar milestone.
Approximately 125 million people have played Fortnite at some point — that’s a lot of money. Even though the items are aesthetic (and don’t help you win), over 70% of players stated they’d spent real money on the game, spending an average of $85. If you also play Fortnite and want to spend real money you may get them from Greenday if bad credit no problem.
Here’s all we know about Sweeney’s finances and how he spends them.
Tim Sweeney’s Incredible Beginning
Sweeney, who has been a video game aficionado since the age of ten, discovered programming as a child. He told Kotaku in 2011 that he was a “strange computer geek” who learned BASIC as a tweenager on an IBM. He went on to the University of Maryland, where he studied mechanical engineering and mowed lawns for a living — but he was obsessed with computer games.
He told Kotaku, “I began thinking, ‘If I produced a game and it sold this many copies, I would earn this much money.'”
Sweeney founded Epic Games at 21 and produced his first product, ZZT. He still stayed in a dorm and commuted to his parents’ home to use his computer while earning about $100 every day.
I essentially studied and performed schoolwork during the day, then coded all night on ZZT. On weekends, I’d return home and work on my shareware company, which I’d started after the game. He told Gamasutra about it. “I’d get a lot of orders in the mail, then copy CDs on the computer.
Sweeney continued to build a name for himself, and in 1998, he launched Unreal, a first-person shooter. He also introduced Unreal Engine, a set of professional tools for creators who agree to pay Epic a 5% royalty whenever a game reaches a particular revenue threshold.
Sweeney then relocated his company to North Carolina. One of the reasons behind the move? There was a cheap cost of living.
“We can employ individuals from all over the globe, and they can come here and purchase a great home with a decent game developer’s pay,” he told Gamasutra. “You’d be trapped with a one-bedroom apartment in California.”
What is it about Fortnite that makes it so profitable?
When Fortnite Battle Royale was released in September 2017, it instantly became a hit. People gathered to play the free game and watch Ninja broadcast it on Twitch, cheerfully parting with their money to buy stuff, dancing movements, and personalized clothing for their avatars.
A $10 Battle Pass is also available, rewarding users who fulfill specific tasks. Oh, and don’t forget about mobile: according to Recode, sales on the iOS app make $1.8 million each day.
Do you see money signs yet? All of this activity accumulates. Fortnite made $126 million in February, $223 million in March, and $296 million in April, according to Forbes. The company has so much money that it’s putting together a $100 million prize fund for upcoming Fortnite tournaments. It’s also started collecting a lower portion of Unreal Engine developers’ income from their digital marketplace sales.
We need to be continually investigating business concepts that work. Epic has weathered several storms throughout its existence, from shareware to PC retail and back to independent publishing our games. “Last year, Sweeney told VentureBeat about his plans. “You have to keep changing the rules.”
Sweeney is no stranger to intelligent business decisions. In 2012, Chinese company Tencent, the world’s fifth most valuable brand, paid $330 million for a 40% stake in Epic Games.
Epic Games sold the rights to their third-person shooter game Gears of War to Microsoft two years later. It’s unclear how much the computer giant paid for the series, but Sweeney is likely to have gotten a big payday. According to a press release, Gears of War games had sold 22 million copies and hauled in $1 billion when the news broke.
Sweeney’s Expenditure: Ferraris and Forests
According to Kotaku, Sweeney used to possess a fleet of premium automobiles, including a Ferrari, a Porsche, a Lamborghini, and a Corvette. He spends a lot of his money on the property these days. According to WNC Magazine, Sweeney owns more than 35,000 acres in North Carolina, most of which he intends to conserve.
He told WNC, “The goal is to put my money to work for conservation.”
According to the Asheville Citizen-Times, Sweeney donated $15 million in 2016 to purchase 7,000 acres of wilderness in the western section of the state. He subsequently gave the US Fish and Wildlife Service easement, assuring that the site would be protected indefinitely.
As he said in an earlier interview advertising Gears of War, the developer also lives in a mansion. In the video, he shows visitors through his garden, piano room, climbing tree, gaming room, and loft.