Rackspace: Minting Billionaires?

In recent days several media outlets, including Bloomberg and Business Insider, have noted that the value of Rackspace Hosting shares held by Chairman Graham Weston has risen to $1.1 billion. Weston is among the RAX shareholders who have prospered as the company’s shares have rocketed from $12 a share in its 2008 IPO to more than $56 a share today.

Bloomberg noted that Weston “loathes talking about his wealth.” What he prefers talking about is corporate culture. At the TEDx San Antonio event in 2010, Weston spoke about the unique corporate culture he has tried to cultivate at Rackspace, and the importance of approaching work and service on a human level. “When we pay attention to what people want from work, everything gets better,” he stated. “What we all want from work is to be valued members of a winning team on an inspiring mission.”

Here’s a look at Weston’s talk at TEDx, which provides insight into his business success. This video runs about 15 minutes.

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About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.

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