Epic Games, the corporation behind “Fortnite” has nearly quadrupled in less than a year, rising from around $18 billion in July 2020 to about $30 billion in April 2021.
Epic Games is a gaming giant based in North Carolina. They recently announced their most recent fundraising: $1 billion in total, including a $200 million donation from Sony. This brings Sony’s total investment in Epic to $450 million.
In a statement, Epic Games announced, “We are pleased to further our relationship in order to provide new entertainment experiences to consumers all around the world,” stated Sony President and CEO Kenichiro Yoshida. “I am convinced that this is in line with our mission to fill the world with feeling via the force of creativity and technology.”
The remaining investors are institutions such as Fidelity, Franklin Templeton, and Luxor Capital, among others. The Ontario Teachers’ Pension Plan Board also participated in the funding round.
Epic creates a wide range of items in addition to “Fortnite.” The Epic Game Store, a digital marketplace for Mac and PC gaming, is also maintained by the company, which is responsible for the Unreal Engine software suite, a widely used tool for creating video games.
In addition to “Fortnite,” Epic owns and operates the popular online multiplayer games “Rocket League” and “Fall Guys.”
“Fortnite” is the company’s most popular and possibly most profitable game. According to insiders, the game earned more than $400 million in April 2020 alone. I
t is also involved in a legal battle between with Apple. The firm is privately held, with CEO Tim Sweeney as the majority shareholder. According to the Bloomberg Billionaires Index, he is worth about $10 billion.