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David Packard was an American electrical engineer, entrepreneur, and philanthropist best known as the co-founder of Hewlett-Packard (HP), a company that played a pivotal role in shaping the technology industry. His contributions extended beyond business into public service and philanthropy, leaving a lasting legacy in multiple fields.

Net Worth and Lifestyle

At the time of his death in 1996, Packard’s net worth was estimated at approximately $4 billion. His wealth was primarily derived from his stake in Hewlett-Packard, which he co-founded and led to become a global technology leader. Packard was known for his modest lifestyle, often emphasizing the importance of humility and community service over personal wealth.

Personal Life and Relationships

In 1938, Packard married Lucile Salter. The couple had four children: David Woodley Packard, Susan Packard Orr, Julie Packard, and Nancy Packard Burnett. Lucile was a significant partner in Packard’s philanthropic efforts, and together they established the David and Lucile Packard Foundation in 1964, focusing on conservation, science, and community initiatives.

  • Full Name: David Packard
  • Date of Birth: September 7, 1912
  • Place of Birth: Pueblo, Colorado, U.S.
  • Nationality: American
  • Education: B.A. from Stanford University (1934); M.S. in Electrical Engineering (1939)
  • Career Beginnings: Co-founded Hewlett-Packard in 1939
  • Notable Works: Development of electronic test equipment; leadership at HP
  • Relationship Status: Married
  • Spouse: Lucile Salter (m. 1938; d. 1987)
  • Children: 4, including David Woodley Packard, Susan Packard Orr, and Julie Packard
  • Net Worth: Approximately $4 billion at the time of his death in 1996
  • Major Achievements: Presidential Medal of Freedom (1988); Public Welfare Medal (1989)

Packard attended Stanford University, where he earned a Bachelor of Arts degree in 1934. During his time at Stanford, he met William R. Hewlett, a fellow engineering student. Their shared passion for electronics and innovation led to a lifelong partnership that would eventually give rise to Hewlett-Packard.

Under Packard’s leadership, HP introduced its first product, an audio oscillator, which quickly gained popularity among engineers and scientists. The company’s commitment to innovation and quality led to rapid growth, and by the 1950s, HP had become a leading manufacturer of electronic test equipment.

Career Beginnings and Key Milestones

After graduating from Stanford, Packard briefly worked for the General Electric Company in Schenectady, New York. In 1938, he returned to Stanford to pursue a master’s degree in electrical engineering, which he completed in 1939. That same year, Packard and Hewlett founded Hewlett-Packard in a garage in Palo Alto, California, with an initial capital investment of $538.

In recognition of his contributions, Packard received numerous awards, including the Presidential Medal of Freedom in 1988 and the Public Welfare Medal in 1989. These honors reflected his impact not only on technology but also on society at large.

Early Life and Family Background

Born on September 7, 1912, in Pueblo, Colorado, David Packard was the son of Sperry Sidney Packard, a lawyer, and Ella Graber. From a young age, he exhibited a keen interest in science and electronics, building his first radio while still in elementary school. This early fascination with technology set the foundation for his future endeavors.

In addition to his philanthropic work, Packard served as U.S. Deputy Secretary of Defense from 1969 to 1971 under President Richard Nixon, where he oversaw significant defense initiatives. His leadership in both the public and private sectors left an indelible mark on technology, governance, and philanthropy.

Charitable Work and Legacy

Packard’s philanthropic endeavors were extensive. The David and Lucile Packard Foundation became one of the largest philanthropic organizations in the United States, supporting initiatives in conservation, science, and education. Notably, the foundation played a crucial role in the establishment of the Monterey Bay Aquarium, reflecting Packard’s commitment to environmental conservation.

Future Plans and Impact on Culture

While Packard passed away in 1996, his legacy continues through the ongoing work of the David and Lucile Packard Foundation and the enduring influence of “The HP Way” in corporate management practices. His emphasis on innovation, integrity, and social responsibility remains a guiding principle for many organizations today.

Notable Works and Achievements

Packard’s tenure at HP was marked by significant technological advancements. The company expanded its product line to include calculators, computers, and printers, becoming a major player in the tech industry. Packard’s management philosophy, known as “The HP Way,” emphasized respect for individuals, integrity, teamwork, and innovation, setting a standard for corporate culture.

Packard’s life story serves as an inspiration, demonstrating how visionary leadership and a commitment to societal good can create lasting positive change.

Disclaimer: David Packard: Age, wealth data updated April 2026.