American businessman and engineer Ray Dolby has an estimated net worth of $2.3 billion as of March 2013 according to Forbes. He is known to have invented Dolby NR and one of the inventors of video tape recording. He founded Dolby Laboratories.

Ray Dolby was born on January 18, 1933 in Portland, Oregon, United States. He attended Stanford University where he completed his bachelor's degree in electrical engineering and the University of Cambridge, where he completed his PhD in Physics.  He is currently married to Dagmar with whom he has two children named David and Tom.

After working for the United Nations as a technical advisor in India, he returned to England and formed Dolby Laboratories. He invented Dolby Sound System. As an engineer and inventor, Ray Dolby has earned several recognitions from many award winning bodies. These recognitions include IEEE Edison Medal (2010), Charles F. Jenkins Lifetime Achievement Award by the Academy of Television Arts and Sciences (2003), IEEE Masaru Ibuka Consumer Electronics Award (1997), U.S. National Medal of Technology (1997), Special Merit/Technical Grammy Award (1995),  61st Academy Awards — Academy Award, Scientific or Technical (1989), SMPTE Alexander M. Poniatoff Gold Medal (1985), SMPTE Progress Medal (1983) and AES Silver Medal (1971). In 2004, Ray Dolby was inducted into the Consumer Electronics Hall of Fame and National Inventors Hall of Fame.