Despite numerous attempts to evolve into the mobile age, along with dramatic cost-cutting measures, EA stock didn’t recover from the plunge it took during the 2008 market crash. When he returned to EA in 2007 as CEO, Riccitiello quickly acknowledged bubbling changes in the industry stemming from the advent of digital games. (Elevation Partners is a former investor in Forbes Media LLC.) Riccitiello led the video games division. Riccitiello led the company through a stretch of strong growth, marked by its experimentation with new console technologies and massively popular games like Madden and FIFA, before leaving in 2004 to launch his own venture-the private equity firm Elevation Partners, which he cofounded alongside tech investor Roger McNamee and rockstar Bono. After graduating from the University of California, Berkeley in 1981, and spending nearly two decades at a range of consumer goods companies-including Clorox, PepsiCo and Sara Lee-the Pennsylvania native joined EA as president and chief operating officer in 1997. Iceland-born David Helgason, who cofounded Unity in 2004 and stepped down as CEO in October 2014 to make room for Riccitiello, is also a billionaire, as is cofounder and chief technology officer Joachim “Joe” Ante of Germany.Ĭritical to understanding Riccitiello’s success at Unity are his origins at EA, one of the biggest gaming companies in the world.
Shares of Unity have risen 15% to $197.55 since news of the deal, which has also made a billionaire out of Jackson. Riccitiello’s fortune received a boost with the announcement last week of Unity’s biggest acquisition to date: the technology division of Weta Digital, the visual-effects studio cofounded by Lord of the Rings director Peter Jackson, for which Unity is paying $1.625 billion in cash and stock.
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He also has options to purchase nearly 2.8 million more shares, plus he’s amassed an estimated $215 million (after tax) from past sales of Unity and EA stock. Riccitiello has 3.5 million Unity shares. The 63-year-old Riccitiello is now worth an estimated $1.4 billion, due in large part to the accelerating value of Unity stock, which has more than tripled since the company’s IPO in September 2020. Riccitiello joined Unity, the San Francisco-based video game software-maker whose products were used to help create hits like Pokemon Go, Among Us and Overcooked, as CEO in 2014.
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