Video Game developers Epic Games, who developed Fortnite are set to pay a hefty $520M fine on account of various charges, get to know more about the charges and Epic Games CEO Tim Sweeney, his age, wife and net worth
Epic Games are a North Carolina based gaming company, and the hefty fine imposed on them consist of two parts.
Who Is Tim Sweeney CEO Of Epic Games, His Age, Wife, Education, Net Worth, Twitter
Fortnite and Epic Games will have to pay an unprecedented $520 million in relief funds after the FTC found them guilty of tricking users into making purchases, collecting data from children without parents consent, and having default settings that harmed both children and teens
— Jake Lucky (@JakeSucky) December 19, 2022
Besides the charges stated above, Fortnite, which was released by Epic Games in 2017 also exposed children to suicide chat.
Fortnite Developer Epic Games To Pay $520M Fine
Epic Games will pay a total of $520M on account of two charges. While $275M is a fine for collecting data and privacy issues, the $245M is a fine for in-item purchases.
The fine is meant to settle allegations set against the company who allegedly took advantage of the children and their parents, according to the Federal Trade Commission (FTC). The FTC further accused the company of causing psychological trauma by exposing children to threats of bullying, harassment, and suicide.
According to the FTC Fortnite deceived players of all ages with its so called “dark patterns” when purchasing online credits. The operation allegedly had a “counterintuitive, inconsistent, and confusing” button configuration. NBC News stated that the operation allowed Epic Games to earn hundreds of millions in unauthorized charges towards consumers.
Epic Games CEO Tim Sweeney Brief Bio
Tim Sweeney is a video game programmer and businessman, and also the creator behind Unreal Engine, a game development platform. Sweeney attended the University of Maryland starting 1989, where he studied mechanical engineering.
After finishing his education, Sweeney established Potomac Computer Systems, which was a consulting business. However, it got shelved after failing to work out. Sweeney later came up with the idea of creating games with commercial value. Following this idea, he used his existing fortune to buy large plots of land in North Carolina.
The 52 year old who is single and unmarried has a net worth of $9.5 billion.
Epic Games Posts Official Statement
In response to the news about the hefty fine, Epic Games issued an official statement on its website:
It stated that Epic Games has reached a settlement with the FTC and that they will pay $245 million USD to the FTC. The fine is meant to resolve all the concerns related to past designs of the Fortnite item shop and refund systems in Fortnite. The FTC will presumably use the fines to distribute it among Epic customers.
The statement further shared that Epic Games will pay a further $275 million USD to the FTC to resolve all of the issues related to children privacy concerns in the Fortnite game.
Epic Games ended their statement by sharing how they have been making changes over the past few years in order to ensure that their ecosystem meets the expectations of the players and regulators. The company further hoped that their works will act as a helpful guide for others in the same industry.