Judy Faulkner
- Net worth $9.9 billion
- Birthday August 11, 1943
- Status -
- Country United States
- Source(-s) of wealth Businesswoman, Entrepreneur, Philanthropist
How much is Judy Faulkner Worth? Judy Faulkner Net Worth in 2026
Judy Faulkner’s net worth is estimated at $9.9 billion as of November 2026. She has said she has never cashed a single Epic share for herself. When she sells nonvoting shares back to the company, the money goes to Roots and Wings, the foundation she runs with her husband, which is why a near-$10 billion fortune exists almost entirely on paper.
| Net worth | $9.9 billion (our estimate, range $7 billion to $14 billion) |
|---|---|
| Born | August 11, 1943 (age 83) |
| Country | United States |
| Known for | Founder and CEO of Epic Systems, the electronic health records company |
| Main income sources | Stake of about 43% in Epic, held with her family |
How much is Judy Faulkner worth in 2026?
About $9.9 billion, by our estimate, and it is a rough one because Epic has no market price. Her biography says she and her family own about 43% of the company, while Fortune describes the 43% as her stake. We credit it all to her as the founder because no split has been published; if her husband and children hold part of it, her own figure is lower. To value Epic we borrow the price Oracle paid for its closest rival, Cerner, and then take a discount because Epic’s own rules mean the stake can never be sold to an outsider.
The arithmetic behind $9.9 billion
| Source | Our estimate | What it rests on |
|---|---|---|
| 43% of Epic at the Cerner multiple | $14.1 billion | Oracle paid $28.3 billion for Cerner in 2022, 4.91 times Cerner’s 2021 revenue of $5.765 billion. Applied to Epic’s reported 2025 revenue of about $6.7 billion, that values Epic at $32.9 billion; 43% is $14.1 billion. |
| Discount for a stake that cannot be sold | minus $4.2 billion | Our assumption: 30% off, because Epic’s trust must vote against any listing or sale of the company. 30% of $14.1 billion is $4.2 billion. |
| Cash from share sales | $0 | She says she has never cashed a share for herself; sale proceeds go to her foundation. |
| Total | $9.9 billion | $9.9 billion after the discount. |
A caution on that multiple: it was struck on 2021 revenue for a 2022 deal, and we apply it to Epic’s 2025 revenue. Software prices have moved since, and Epic is larger and growing faster than Cerner was, so the true number could be higher or lower. Without the discount, she would be at about $14 billion; at a lower multiple of 3.5 times revenue and the same discount, about $7 billion.
Bigger than the company Oracle bought
Cerner reported 2021 revenue of $5.765 billion and net earnings of $555.6 million, according to its results release, and Oracle closed the $28.3 billion purchase at $95 a share in June 2022, FedScoop reported. Epic’s revenue was roughly $6.7 billion in 2025, up from about $5.7 billion in 2024, Revenue Memo reported in August 2026, citing the company. That 2025 figure rests on one report we could open; Fortune put Epic at $5.7 billion a year in August 2025, and on that revenue the same method gives about $8.4 billion. Our calculation: Epic now brings in about 16% more a year than Cerner did when it was sold. It also has no outside investors at all. Its only outside capital was about $70,000 from friends and family when it started in 1979.
A trust built to stop a sale
Epic laid out its succession plan in a post on February 6, 2026. The company has Class A voting shares and Class B nonvoting shares, roughly 1 for every 99. Faulkner set up trusts that will own more than 70% of the Class A voting stock as soon as she dies, controlled by a group of family members and long-serving employees, a majority of them employees. That group must vote against any deal that would take Epic public or lead to its acquisition. After her death, the trusts will give almost all the value of her Class B stock to charity over time.
She has done a version of that for years. She signed the Giving Pledge in 2015, committing 99% of her wealth, and sells nonvoting shares back to Epic to fund Roots and Wings, Fortune reported. The foundation gave $15 million to 115 organisations in 2020 and aims to reach $100 million a year as early as 2027. By our calculation, $100 million a year is about 1% of our figure for her.
A basement in Madison
Faulkner was born on August 11, 1943 and grew up in Cherry Hill, New Jersey. She earned a mathematics degree from Dickinson College in 1965 and a master’s in computer science from the University of Wisconsin in 1967, her biography says. In 1979 she co-founded Human Services Computing with Dr. John Greist in a basement in Madison, Wisconsin. That company became Epic, which now holds records for more than 325 million patients and employs roughly 15,000 people.
Why other estimates disagree
With no share price, every public estimate is a model. Some apply a lower revenue multiple, some apply no discount for the fact that the stake can never be sold, and some date from 2024 or 2025, when Epic’s revenue was a billion dollars lower.
What would move the figure
Epic’s revenue, first. The company does not list or raise money, and the price Epic pays when it buys back her nonvoting shares has not been published. Her giving pace matters too: each share sold back to fund the foundation leaves her with a smaller stake.
Judy Faulkner net worth FAQ
What is Judy Faulkner’s net worth?
About $9.9 billion as of November 2026 by our estimate, based on a family stake of about 43% in Epic Systems, valued with a sale-price comparison and a discount.
How much of Epic does Judy Faulkner own?
She and her family are reported to own about 43%. Epic is private and does not publish the split.
How much revenue does Epic Systems make?
Roughly $6.7 billion in 2025, up from about $5.7 billion in 2024, as reported in August 2026.
Has Judy Faulkner sold Epic shares?
She sells nonvoting shares back to Epic and gives the money to her Roots and Wings foundation. She says she has never cashed a share for herself.
How old is Judy Faulkner?
She was born on August 11, 1943, so she is 83.
Will Epic Systems ever go public?
Epic says the trusts that will control its voting shares after her death must vote against any listing or sale of the company.
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How we estimate net worth
Our estimates are based on public reporting, company valuations, and deal and earnings figures all compiled in an internal valuation model. They are approximate, and figures change over time as new information emerges.
Last updated: November 2026.