Egan,. 73, was battling terminal cancer, a family statement said, as well as diabetes, emphysema and high blood pressure.
Police told The Boston Herald a nurse attending Egan heard a shotgun blast and called 911 at 12:32 p.m. Friday.
An engineer by training and a Marine Reservist during the Korean War, Egan was a major Republican fundraiser He was often listed in Forbes magazine as one of the richest people in the world.
Egan was the "E" in EMC. He and Roger Marino started the data storage company in Newton, Mass., in 1979.
"On behalf of more than 40,000 EMC employees from around the world, we extend our deepest condolences to Mrs. Egan and the entire family," EMC CEO Joe Tucci said.
He is survived by his wife, Maureen, and five children. The statement released by the family asked for privacy.
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