Epic Games made billions with Fortnite in 2018
Fortnite is hugely successful, no one can really deny that. And now, we have concrete numbers proving just how monumental a hitthis particular game has become. According to recent analysis released by TechCrunch, the massively popular Battle Royale title has raked in more than $3 billion in total profit in the last year.
Epic Games had as good a year in 2018 as any company in tech. Fortnite became the world’s most popular game, growing the company’s valuation to $15 billion, but it has helped the company pile up cash, too. Epic grossed a $3 billion profit for this year fueled by the continued success of Fortnite, a source with knowledge of the business told TechCrunch.
And it’s not just the company that’s exploding in terms of value, the current CEO also has an extremely high net worth. according to Bloomberg, CEO Tim Sweenry’s net worth is between $5 and $8 billion. The publication estimates the overall net worth of Epic at around twice that, around $15 billion. And by all indications, these figures will only grow in 2019, and not just due to the rampant success of Fortnite. Epic Games recently revealed that the company is launching their own game distribution platform to compete with the likes of Steam and GoG.
And even though this move, and awkward exclusivity deals built into the system, have generated some pushback, the overall future couldn’t be greener for Epic and their ventures. And this is good news for Tencent, the Chinese megafirm which acquired a roughly 40% stake in Epic for $330 million worth of stock in June 2012. Since then, it’s safe to assume their investment has been made back by quite a margin.
Other investments in the company include a wound of funding raised in October 2018, sourced from multiple firms, which totaled rought $1.25 billon, it was this round that likely resulted in the much higher valuation being reported by TechCrunch and others.
So what do you guys think? How will Epic do in 2019? Let us know in the comments below.
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