Early Life and Military Service
Robert Ralph Parsons was born in Baltimore, Maryland, on November 27, 1950. Growing up in a working-class neighborhood, he faced financial hardships due to his parents' gambling habits. He struggled academically, repeating the fifth grade. Seeking a change, he enlisted in the United States Marine Corps at age 18. During his service, he served as a rifleman in the Vietnam War, earning the Purple Heart and Combat Action Ribbon.
Rise to Success
After his military service and earning a degree in accounting from the University of Baltimore, Parsons began his entrepreneurial journey. In 1984, he founded Parsons Technology, developing personal finance and tax software. He sold the company to Intuit in 1994 for $64 million. In 1997, he founded Jomax Technologies, which was later rebranded as GoDaddy. GoDaddy became the world's largest domain registrar. Parsons sold a majority stake in GoDaddy in 2011.
Key Business Strategies
Parsons's key business strategies involved recognizing market needs, such as the demand for affordable domain registration and web hosting. He used aggressive marketing, including provocative Super Bowl advertisements, to gain market share. He diversified his ventures under YAM Worldwide, Inc., which includes businesses in power sports, golf (PXG golf equipment), real estate, and marketing.
Philanthropy
In 2012, Bob and his wife Renee founded The Bob & Renee Parsons Foundation, which focuses on various causes including homelessness, medical care, veterans, and education. They have pledged to give away at least half of their net worth through The Giving Pledge. The Foundation has awarded over $296 million to more than 160 organizations.