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Billionaire Profile
F
Global Rank
#2710

Image: New Jersey Infantry. 2d Regt | Public domain | via Wikimedia Commons

Frederic Luddy

CEO, Software
UNITED STATES
Real-Time Net Worth
$1.327B
Estimated based on Software stock value as of March 6, 2026
+0.4% (24h)
Age
71
Source
Software
Industry
Technology
Citizenship
UNITED STATES

Biography

Frederic Luddy is an American billionaire businessman and the founder of ServiceNow, a cloud computing company. His estimated net worth is $1.3 billion as of February 2, 2026. Luddy's source of wealth stems from his success in the software industry. He founded ServiceNow in 2004, a few weeks before his 50th birthday, after previously experiencing the loss of his $35 million fortune due to the bankruptcy of Peregrine Systems, where he served as CTO. His career began with his interest in computer programming, dropping out of Indiana University to pursue his passion. Luddy's achievements include building ServiceNow into a leading cloud computing company. He currently resides in San Diego, California.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Frederic Luddy was born in New Castle, Indiana, in 1954. Growing up, his father was an accountant and his mother was a Catholic school teacher. Luddy attended Indiana University but dropped out to pursue his passion for computer programming.

Rise to Success

Luddy's career began with roles at Amdahl Corporation and Enterprise Software. Before founding ServiceNow, he served as Chief Technology Officer at Peregrine Systems. In 2004, Luddy lost a $35 million fortune due to accounting fraud at Peregrine Systems. Undeterred, Luddy founded ServiceNow the same year. He served as CEO from 2004 to 2011 and then as Chief Product Officer until 2017. He is currently the Chairman of the Board. He turned down a $2.5 billion acquisition offer in 2011.

Key Business Strategies

Luddy's key business strategy was identifying the need for cloud-based solutions for enterprise IT management. His pioneering approach to programming helped him develop the concept of platform as a service in cloud computing. ServiceNow was ranked No. 1 on the Forbes Most Innovative Companies list in 2018.

Philanthropy

Luddy is involved in philanthropy through the Fred B. Luddy Family Foundation, donating to education and healthcare causes. He made a $60 million donation to Indiana University's School of Informatics, Computing, and Engineering, which was subsequently named in his honor and now includes the Luddy Center for Artificial Intelligence. He also owns the San Diego Aviators, a professional tennis team.

Career Milestones

2004

Founded ServiceNow

Founded the cloud computing company, ServiceNow.

2011

Stepped Down as CEO

Stepped down as CEO of ServiceNow to focus on product development.

2017

Chief Product Officer

Ended the role of Chief Product Officer.

2018

Chairman of the Board

Became Chairman of the Board of ServiceNow.

2023

Horatio Alger Award

Received the Horatio Alger Award.

Philanthropy & Social Impact

Education

Luddy School of Informatics

$60M

Donated $60 million to Indiana University's School of Informatics, Computing, and Engineering, now known as the Luddy School of Informatics, Computing, and Engineering.

Business Philosophy & Leadership

Notable Quotes

"There is no better experience than giving someone a piece of technology that lets them do something they never thought they could do."

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