What was Bill Hewlett’s net worth?
Bill Hewlett was an American engineer and entrepreneur who had a net worth of $9 billion at the time of his death in 2001. Bill Hewlett was best known as the co-founder of Hewlett-Packard (HP), one of the most influential technology companies in history. Alongside his Stanford classmate and lifelong friend David Packard, Hewlett helped pioneer the model of Silicon Valley entrepreneurship—a blend of innovation, teamwork, and employee-centered management that became known as “The HP Way.” His work in electronics laid the foundation for modern computing and instrumentation, while his leadership philosophy shaped generations of technology companies that followed. Hewlett’s technical brilliance, modest demeanor, and belief in empowering engineers helped transform HP from a garage startup into a global powerhouse. Bill Hewlett passed away on January 12, 2001, at 87 years old.
Early Life and Education
William Redington Hewlett was born on May 20, 1913, in Ann Arbor, Michigan. His father, Albion Walter Hewlett, was a professor at Stanford Medical School, and his mother, Lyla Redington Hewlett, encouraged intellectual curiosity from an early age. Bill showed an early aptitude for mechanics and science, often taking apart radios and electrical devices to understand how they worked.
After high school, he enrolled at Stanford University, where he studied electrical engineering and met fellow student David Packard. The two shared an enthusiasm for electronics and experimentation that would later define their partnership. Hewlett earned his bachelor’s degree from Stanford in 1934, then continued his studies at the Massachusetts Institute of Technology, where he earned a master’s degree in electrical engineering. He returned to Stanford for graduate research under Professor Frederick Terman, a mentor who encouraged students to pursue practical, entrepreneurial applications of their technical skills.
(Photo by David Paul Morris/Getty Images)
Founding Hewlett-Packard
In 1939, Hewlett and Packard officially founded Hewlett-Packard in a rented one-car garage at 367 Addison Avenue in Palo Alto, California—a site now considered the birthplace of Silicon Valley. With just $538 in starting capital, the pair flipped a coin to decide whose name would come first on the company’s name. Hewlett won.
Their first major product was the HP Model 200A audio oscillator, a precision device used to test sound equipment. Hewlett’s innovative design used a simple light bulb as part of a stabilization circuit, allowing for high performance at a fraction of competitors’ prices. The product quickly gained attention, and their first major customer was Walt Disney Studios, which ordered eight oscillators to test the sound system for the film “Fantasia.”
The success of the 200A established HP’s reputation for technical excellence and reliability. Over the next decades, Hewlett and Packard expanded their product line into test instruments, electronic measurement devices, and eventually computers, creating a company that would become synonymous with innovation.
David Packard (left) William Hewlett (Photo courtesy of Hewlett-Packard/Newsmakers)
Leadership and The HP Way
Bill Hewlett and David Packard’s partnership became one of the most successful collaborations in American business history. While Packard handled much of the company’s operations and administration, Hewlett focused on engineering and product design. Together, they built a culture that valued trust, respect, and creativity—a management style that came to be known as “The HP Way.”
The HP Way emphasized decentralized decision-making, open communication, and employee empowerment. Hewlett believed that good ideas could come from anywhere in the organization and that managers should listen to their engineers. He encouraged experimentation and allowed teams to pursue independent research projects, fostering innovation across departments. This approach influenced not only HP’s success but also the broader culture of Silicon Valley, where similar values became the norm among startups.
Hewlett’s leadership style was understated but deeply effective. He preferred to lead by example rather than authority, often walking through HP’s labs to speak directly with employees. Colleagues and engineers remembered him for his humility, technical insight, and belief that a company’s success depended on its people as much as its products.
Scientific Contributions
Beyond his management legacy, Hewlett made important technical contributions to the field of electronics. His design of the audio oscillator became an industry standard and helped advance the development of signal generators and testing equipment. Throughout the 1940s and 1950s, he oversaw the creation of increasingly sophisticated measuring instruments used in research, communications, and defense industries.
During World War II, Hewlett served as a lieutenant in the U.S. Army Signal Corps, applying his engineering skills to develop radar and other military technologies. After the war, he returned to HP, guiding its expansion during the postwar technology boom.
Philanthropy and Later Life
Hewlett’s success at HP made him one of the most respected figures in American business, but he remained modest and dedicated to public service. In 1966, he established the William and Flora Hewlett Foundation with his wife, Flora Lamson Hewlett. When Flora Hewlett died in 1977, she earmarked a huge grant of equity and funds for the foundation. By the time the funds were delivered in 1981, the foundation received $300 million from Flora’s estate. That’s the same as $850 million today. With continued contributions and stock appreciation, by the mid-1990s, the foundation controlled $800 million. When Bill died in 2001, he was worth $9 billion. He left approximately $8.5 billion of his assets to the foundation. Today, the William and Flora Hewlett Foundation controls $10 billion in assets and is one of the largest foundations on the planet.
He also maintained close ties to Stanford University, serving on its Board of Trustees and supporting its engineering programs. In 1994, Bill and David Packard donated $77 million to establish the David Packard Electrical Engineering Building at Stanford University. The Hewlett-Packard Company endowed numerous scholarships and research initiatives in his honor, and the university’s Bill and Flora Hewlett Teaching Center bears his name.
Hewlett officially retired from day-to-day management at HP in the 1970s but remained active on the company’s board until the 1980s. He passed away on January 12, 2001, at the age of 87.
Legacy
Bill Hewlett’s legacy endures through both the company he built and the management philosophy he helped define. HP became a model for ethical, people-centered business, and its early culture influenced generations of tech companies that followed—from Intel and Apple to Google and beyond.
As an engineer, Hewlett helped invent tools that pushed the frontiers of science and technology. As a leader, he created an environment where innovation could thrive. The garage where HP began stands today as a monument to his vision—a reminder that world-changing ideas can start small, with creativity, collaboration, and integrity at their core.
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