Fred Luddy

Frederic B Luddy
Born	(1954-11-24) November 24, 1954 (age 70)
Nationality	American
Known for	Founder, ServiceNow

Fred Luddy (born 1954[1]) is an American billionaire businessman, and the founder of ServiceNow, a cloud computing company.

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 Bloomington, but dropped out, as he was spending too much time doing computer programming.[3][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 to an advisory role in 2016.[3]

As of October 2023, Luddy's net worth was estimated at $1.2 billion.[4]

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.[5]

In 2017, Luddy was part of a purchase of World Team Tennis from Billie Jean King.[6] He is now a majority owner with Eric Davidson.[7]

Philanthropy

Luddy Hall at the Luddy School of Informatics, Computing, and Engineering at Indiana University Bloomington 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".[8]

Awards

In 2023, Fred Luddy received the Horatio Alger Award[9]

References

1. "How ServiceNow Was Born - ServiceNow Blog". ServiceNow. 2022-01-28. Retrieved 2023-05-03.
2. "From Broke To Billionaire: How Fred Luddy Built The World's Most Innovative Company". Forbes. Retrieved 22 June 2018.
3. "Hoosiers-Like Comeback After Wipeout Forges New Tech Billionaire". Bloomberg News. 27 April 2018. Retrieved 22 June 2018.
4. "Real Time Billionaires". Forbes.
5. "San Diego Aviators - FRONT OFFICE TEAM". San Diego Aviators. Retrieved 2019-08-08.
6. "WTT - History". WTT. Retrieved 2019-08-08.
7. "WTT - About". WTT. Retrieved 2019-08-08.
8. "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.
9. "Frederic B. Luddy, Founder of ServiceNow, to Receive 2023 Horatio Alger Award". Horatio Alger. February 9, 2023.