Garmin, a name synonymous with navigation and fitness tracking, was founded in 1989 by Gary Burrell and Min Kao, hence the company name’s origins. The duo, with their backgrounds in engineering and business, started in a small office in Lenexa, Kansas, with a mission to create innovative GPS technology for the masses.

Their big break came in 1991 when they introduced the GPS 100, the world’s first affordable handheld GPS device. This product revolutionized outdoor recreation and marked the beginning of Garmin’s journey towards becoming a global leader in navigation and wearable technology.

Garmin’s Current Net Worth (2025)

As of 2025, Garmin Ltd.’s current net worth is estimated to be around $18 billion, according to the latest available information. This significant valuation reflects the company’s strong global presence and innovative products in the GPS technology sector.

Career

Founded by Gary Burrell and Min Kao in 1989, Garmin began its journey as a startup focused on designing and manufacturing GPS devices. Today, it has evolved into a multinational technology company with a diverse portfolio, including wearable technology, automotive, marine, aviation, and outdoor recreation products. Garmin’s innovative solutions have revolutionized navigation and communication, making it a global leader in its industry.

Other Ventures

Beyond its core GPS technology, Garmin has expanded into various other ventures. These include its fitness segment, offering products like smartwatches and fitness trackers, and its automotive segment, providing navigation and driver assistance systems. Additionally, Garmin has made strategic investments in companies like Spireon and Navika, further diversifying its business portfolio.

Assets

Garmin’s assets include its extensive intellectual property portfolio, comprising patents, trademarks, and proprietary technologies. The company also owns manufacturing facilities worldwide, with a significant presence in the United States, Taiwan, and Switzerland. Garmin’s global distribution network and strong brand recognition are among its most valuable assets, enabling it to maintain a competitive edge in the market.

Annual Income

In the fiscal year 2024, Garmin reported total revenue of approximately $4.6 billion. This impressive annual income is a testament to the company’s continued growth and success in the global market. Garmin’s diverse product portfolio and strong brand have enabled it to maintain a steady revenue stream, despite the dynamic nature of the technology industry.

Frequently Asked Questions about  Garmin

Frequently Asked Questions: Garmin Net Worth

1. What is Garmin’s net worth?

Garmin’s net worth is estimated to be over $13 billion.

2. Who is the founder of Garmin?

Garmin was founded by Gary Burrell and Min Kao in 1989.

3. What does Garmin primarily produce?

Garmin is primarily known for producing GPS technology, wearable technology, and marine electronics.

4. Where is Garmin headquartered?

Garmin’s headquarters are located in Schaffhausen, Switzerland.

5. When was Garmin first listed on the stock market?

Garmin was first listed on the NASDAQ stock market in 2000.

6. What is Garmin’s market capitalization?

Garmin’s market capitalization is over $20 billion.

7. How many employees does Garmin have?

As of 2021, Garmin has over 20,000 employees worldwide.

8. What are some of Garmin’s popular products?

Some of Garmin’s popular products include the Forerunner series of running watches, the GPSMAP series of marine chartplotters, and the Nuvi series of automotive GPS devices.

9. What is Garmin’s revenue?

Garmin’s annual revenue is over $4 billion.

10. How does Garmin compare to its competitors in terms of net worth?

Garmin’s net worth is higher than many of its competitors, such as TomTom and Magellan, but it is lower than tech giants like Google and Apple, which also have significant interests in GPS technology.