Fred Luddy (born ) is an American

billionaire A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busin ...

businessman, and the founder of

ServiceNow ServiceNow is an American software company based in Santa Clara, California that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the ...

, a cloud computing company.

Early life

Luddy grew up in

New Castle, Indiana New Castle is a city in Henry County, Indiana, east-northeast of Indianapolis, on the Big Blue River. The city is the county seat of Henry County. New Castle is home to New Castle Fieldhouse, the largest high school gymnasium in the world. Th ...

, the son of an accountant father and a Catholic-school teacher mother. Luddy went to

Indiana University Indiana University (IU) is a system of public universities in the U.S. state of Indiana. Campuses Indiana University has two core campuses, five regional campuses, and two regional centers under the administration of IUPUI. *Indiana Universit ...

, but dropped out, as he was spending too much time doing computer programming.

Career

In 2004, his then net worth of $35 million was lost due to an accounting fraud at his previous company,

Peregrine Systems Peregrine Systems, Inc. was an enterprise software company, founded in 1981, that sold enterprise asset management, change management, and ITIL-based IT service management software. Following an accounting scandal and bankruptcy in 2003, Peregri ...

, of which he was the CTO. 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." Luddy stepped down as CEO of ServiceNow in 2011, then focused on product development, and moved at an advisory role in 2016. In April 2018, Luddy's net worth was estimated at $1.1 billion.

World Team Tennis

Luddy acquired a majority ownership of the

San Diego Aviators The San Diego Aviators are a World TeamTennis (WTT) team that plays at the Omni La Costa Resort and Spa in Carlsbad, California in the United States. The team is the successor to two WTT franchises. The first was created in 1995, as the New York O ...

in 2015. He currently serves of the Chairman of the Board of the team. In 2017, Luddy was part of a purchase of

World Team Tennis World TeamTennis (WTT) is a mixed-gender professional tennis league played with a team format in the United States, which was founded in 1973. The league's season normally takes place in the summer months. Players from the ATP and WTA take a ...

from

Billie Jean King Billie Jean King (née Moffitt; born November 22, 1943) is an American former world No. 1 tennis player. King won 39 major titles: 12 in singles, 16 in women's doubles, and 11 in mixed doubles. King was a member of the victorious United States ...

. He is now a majority owner with Eric Davidson.

Philanthropy

Luddy Hall at

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".

References

{{DEFAULTSORT:Luddy, Fred 1950s births Living people American company founders Year of birth missing (living people) Place of birth missing (living people)