Judy Faulkner: The Billionaire Who Refuses to Cash In

At 82 years old, Judy Faulkner, the CEO and founder of Epic Systems, is redefining what it means to be a billionaire leader. On paper, she’s worth $7.8 billion thanks to her 43% ownership of Epic, one of the largest private health software companies in the United States. But unlike many CEOs who build personal empires from their controlling stakes, Faulkner has never cashed a single share for herself.

Instead, she has been selling her nonvoting shares back to Epic and channeling the profits into charitable causes. A member of the Silent Generation, Faulkner signed the Giving Pledge in 2015—joining Bill and Melinda Gates’ philanthropic initiative—and committed to give away 99% of her fortune.

Her philanthropy flows through Roots & Wings, the foundation she co-founded with her husband, which supports nonprofits that uplift low-income families and children. In 2020, the foundation granted $15 million to 115 organizations across the U.S. Last year, it distributed an estimated $67 million to 305 organizations, according to Forbes. And Faulkner isn’t slowing down. She aims for Roots & Wings to give away $100 million annually by 2027, steadily increasing the rate of her giving.

To manage this unprecedented wealth transfer without destabilizing Epic Systems, Faulkner established a trust to govern her stock sell-backs. Her goal is clear: not to grow her fortune, but to dismantle it in service of others.

Only nine of the 256 billionaires who signed the Giving Pledge are actually living up to their promise. Judy Faulkner is one of them.

The “Work Church” CEO

Faulkner’s unconventionality doesn’t stop at philanthropy. Inside Epic’s sprawling 1,670-acre campus in Verona, Wisconsin, she fosters a corporate culture that blends imagination with discipline.

The company’s 28 office buildings are far from the sleek, futuristic headquarters of Silicon Valley rivals. Instead, they resemble a storybook village, each designed with whimsical themes like The Wizard of Oz, Alice in Wonderland, and Harry Potter. Castles, treehouses, bridges, and even faux chocolate factories bring the grounds to life. Employees help decorate with art sourced from local fairs, handpicked alongside Faulkner herself.

Every month, all 14,000 employees gather underground in Epic’s massive auditorium, fittingly called Deep Space, for mandatory staff meetings. Employees jokingly call it “work church.” Beyond updates on business performance, Faulkner sprinkles in grammar lessons—teaching staff the finer points of “who” versus “whom”—keeping her team both sharp and entertained.

It’s a far cry from the buttoned-up boardrooms of corporate America. As one hospital executive described her, Faulkner is “a female cross between Bill Gates and Willy Wonka.”

A Different Path in a Billionaire World

While many tech moguls—including Elon Musk and Jeff Bezos—have resisted philanthropy and doubled down on their personal wealth, Faulkner continues to chart her own course. Her focus is not on growing her empire but on using it as a force for good.

Epic Systems’ whimsical campus and unconventional culture echo her vision: serious impact doesn’t have to be built on rigid conformity. Instead, it can be fueled by creativity, generosity, and a refusal to play by the rules of traditional corporate wealth.

In a world where billionaire philanthropy is often more promise than practice, Judy Faulkner stands out—not just for what she has built, but for what she’s willing to give away.