Darwin Deason

$1.35 B

Ranked #2307 in World

About Darwin Deason

Highlighting the journey of American billionaire businessman Darwin Deason, born in 1940 and hailing from near Rogers, Arkansas, this overview encapsulates his ascent from humble beginnings on a farm to becoming Xerox's largest individual shareholder after selling Affiliated Computer Services (ACS) for $6.4 billion in 2010. Deason's career, marked by pioneering outsourcing office work internationally via ACS—which went public in 1994—showcases his significant contributions to the tech industry. Additionally, his role in political financing is notable, with substantial donations to key political figures and causes, including a $5 million contribution to Rick Perry's 2016 presidential bid. Furthermore, Deason's ties to influential political networks through his son, Doug Deason, underscore his impact beyond the business sphere.

Born

May 14, 1940 in Rogers, Arkansas, US

Source Of Wealth

Software

Industries

Service

Citizenship

United States

Residence

Dallas, Texas

Education

Diploma, High School

Spouse

Katerina Panos (Married: 2008; Divorced: 2019)

Children

Darwin Deason, an American billionaire businessman and political donor, was born in 1940. He grew up on a farm near Rogers, Arkansas, where he developed a strong work ethic and a love for the outdoors.

Darwin Deason: Family

Deason's family was a significant influence on his life. His parents instilled in him the importance of hard work, integrity, and community service. He has been married to his wife, Patricia, for over 50 years, and they have two children, Doug and Dana.

Darwin Deason: Career Highlights

Deason's career is marked by a series of successful business ventures. He started at a data processing company and eventually controlled a struggling subsidiary of a Dallas company. He renamed the subsidiary MTech and sold it to EDS. In 1988, he founded Affiliated Computer Services (ACS), one of the first companies to outsource office work internationally. ACS went public in 1994, and Deason retired as CEO in 1999 but remained Executive Chairman.

In 2007, Deason attempted to buy control of ACS with Cerberus Capital Management, but the deal collapsed due to board disagreements. He then negotiated a deal to sell ACS to Xerox in 2009. However, shareholders sued due to an additional premium. The lawsuit was settled, and the sale closed in 2010. In 2016, Deason sued Xerox to block a restructuring plan. The lawsuit was settled, and the preferred shares were split between Xerox and Conduent.

Darwin Deason: Companies

Deason founded and led several successful companies throughout his career. These include:

Affiliated Computer Services (ACS)
MTech

Darwin Deason: Major Achievements

Deason's major achievements include:

Building ACS into a multi-billion dollar company
Becoming one of the wealthiest people in Arkansas
Making significant contributions to the Republican Party

Darwin Deason: Awards & Achievements

Deason has received numerous awards and recognitions for his business success and philanthropy. These include:

Arkansas Business Hall of Fame inductee
Ernst & Young Entrepreneur of the Year
National Horatio Alger Award

Darwin Deason: Personal Life & Legacy

Deason is known for his generosity and philanthropy.

He has donated millions of dollars to various charitable organizations, including the University of Arkansas and the Salvation Army. He is also a strong supporter of the Republican Party and has made significant contributions to conservative causes.

Deason's legacy is one of entrepreneurship, innovation, and philanthropy. He is an inspiration to aspiring entrepreneurs and a role model for those who want to make a difference in the world.

Darwin Deason: Trivia

Deason is an avid outdoorsman and enjoys hunting, fishing, and hiking.
He is a licensed pilot and owns several airplanes.
Deason is a collector of classic cars and has a museum dedicated to his collection.

Wealth History

Timeline

1940

Darwin Deason was born in Rogers, Arkansas.

N/A

Moved to Tulsa, Oklahoma, and worked at Gulf Oil.

1988

Founded Affiliated Computer Services (ACS).

1994

ACS went public.

1999

Deason retired as CEO of ACS but remained Executive Chairman.

2007

Attempted to buy control of ACS with Cerberus Capital Management, deal collapsed due to board disagreements.

2009

Negotiated a deal to sell ACS to Xerox.

2010

Sale of ACS to Xerox closed, Deason became Xerox's largest individual shareholder.

2012

Donated $250,000 to support Rick Perry's 2012 presidential candidacy.

2016

Backed Ted Cruz for the 2016 campaign.

2016

Donated $5 million to support Perry's 2016 presidential candidacy, requested money back after Perry dropped out.

N/A

Son, Doug Deason, is a member of the Koch Brothers political network.

2017-2019

Donated $1 million to America First Action super PAC.

2016

Sued Xerox to block restructuring plan, settled, preferred shares split between Xerox and Conduent.

Darwin Deason : FAQs

What is Darwin Deason's net worth?

As of 2024, Darwin Deason's net worth was $1.35 billion.

What are Darwin Deason's main sources of wealth?

Darwin Deason's main source of income comes from Software.

In which industry does Darwin Deason primarily operate?

Darwin Deason is primarily involved in the Service industry.

What is Darwin Deason educational background?

Darwin Deason holds a Diploma from High School.

How many children does Darwin Deason have?

Darwin Deason has 3 children.

Who is Darwin Deason and what is his claim to fame?

Darwin Deason is an American billionaire businessman, known for founding Affiliated Computer Services (ACS) in 1988, which was sold to Xerox for $6.4 billion in 2010. He is also recognized as a political donor.

Can you trace the professional journey of Darwin Deason before founding ACS?

Darwin Deason began his career in data processing, later taking control of a struggling subsidiary of a Dallas company, which he renamed MTech and sold to EDS. His entrepreneurial spirit led him to found ACS, marking a significant venture into outsourcing office work internationally.

How did Darwin Deason impact the 2016 political campaigns in the United States?

Darwin Deason notably backed Ted Cruz for the 2016 campaign and donated $5 million to support Rick Perry's candidacy. After Perry dropped out, Deason requested his donation back, showcasing his active and influential role in political fundraising.

What was the outcome of Darwin Deason's lawsuit against Xerox in 2016?

In 2016, Darwin Deason sued Xerox to block a restructuring plan. The lawsuit settled with the preferred shares being split between Xerox and Conduent, demonstrating Deason's significant influence as a major shareholder.

How has Darwin Deason's family been involved in political activities?

Darwin Deason's son, Doug Deason, is a member of the Koch Brothers' political network, highlighting the family's engagement and influence in political circles. Additionally, Darwin has made substantial donations to political campaigns and super PACs, such as the $1 million to America First Action between 2017 and June 2019.