William McGowan

William G. McGowan (December 10, 1927 ’Ŭ June 8, 1992) was a famed American entrepreneur who challenged the AT&T phone monopoly ’Ŭ and revolutionized the telecommunications industry ’Ŭ as the Founder and Chairman of MCI Communications Corporation. He graduated from Harvard Business School in 1954, and began operating a consulting firm specializing in rescuing troubled companies, but quickly branched out into raising venture capital. In 1968, Bill McGowan was contacted by MCI to raise capital. He made a $50,000 investment in the fledgling business and was made chairman of Microwave Communications of America, predecessor to MCI Communications. In 1971, he reorganized the low-priced telecommunications services company to form MCI. He labored for years to gain financing and regulatory approvals required to expand his business. Following the filing of MCI's landmark 1974 anti-trust lawsuit against AT&T, he began cooperating with the U.S. Department of Justice, which eventually led to the divestiture of AT&T and the opening of the long distance telephony market within the United States. His role in the break-up of AT&T paved the way for MCI's rapid growth to $9.5 billion in annual revenues by 1991 (and control of 16% of the domestic and international long distance phone market). A hard worker and a three-pack-a-day smoker, fueled by twenty cups of coffee a day, Bill McGowan suffered his first heart attack in 1986. He received a heart transplant in 1987, and returned to his work as Chairman within six months, and remained as the driving force of MCI until his death in 1992 from another heart attack. The William G. McGowan Charitable Fund, created shortly after his death, provides for tuition and grants for college students. William McGowan participated in the 1985 Achievement Summit in Denver, Colorado, and spoke to the student delegates about his life as an entrepreneur.