Fred Luddy

Fred Luddy (born 1954/1955) is an American billionaire businessman, and the founder of ServiceNow, a cloud computing company.

Fred Luddy
Born1954/1955 (age 65–66)[1]
NationalityAmerican
Alma materIndiana University (dropped out)
Known forFounder, ServiceNow
Net worth$1.1 billion (April 2018)[1]

Early life

Luddy grew up in New Castle, Indiana, the son of an accountant father and a Catholic-school teacher mother.[2]

Luddy went to Indiana University, but dropped out, as he was spending too much time doing computer programming.[1][2]

Career

In 2004, his then net worth of $35 million was lost due to an accounting fraud at his previous company, Peregrine Systems, of which he was the CTO.[2]

Luddy founded ServiceNow two weeks before his 50th birthday, "I couldn't wait, because there was something psychologically that said I couldn't start a company at 50."[2]

Luddy stepped down as CEO of ServiceNow in 2011, then focused on product development, and moved at an advisory role in 2016.[1]

In April 2018, Luddy's net worth was estimated at $1.1 billion.[1]

World Team Tennis

Luddy acquired a majority ownership of the San Diego Aviators in 2015. He currently serves of the Chairman of the Board of the team.[3]

In 2017, Luddy was part of a purchase of World Team Tennis from Billie Jean King.[4] He is now a majority owner with Eric Davidson.[5]

Philanthropy

Luddy Hall at Indiana University was named in recognition of a donation from Luddy, and "in honor of the many IU alumni in the Luddy family, including Fred's mother, father, sister and two brothers".[6]

References
  1. "Hoosiers-Like Comeback After Wipeout Forges New Tech Billionaire". Retrieved 22 June 2018.
  2. "From Broke To Billionaire: How Fred Luddy Built The World's Most Innovative Company". Forbes. Retrieved 22 June 2018.
  3. "San Diego Aviators - FRONT OFFICE TEAM". San Diego Aviators. Retrieved 2019-08-08.
  4. "WTT - History". WTT. Retrieved 2019-08-08.
  5. "WTT - About". WTT. Retrieved 2019-08-08.
  6. "Fred Luddy: Naming Donor: Luddy Hall: Alumni & Giving: Home: Indiana University". www.sice.indiana.edu. Archived from the original on 1 May 2018. Retrieved 22 June 2018.
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