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
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 ...
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)