Bill McDermott Net Worth – CEO & Chairman of ServiceNow

Bill McDermott is an American business executive and a famous player in the information technology (IT) sector. He is currently acting as the Chairman and Chief Executive Officer (CEO) of ServiceNow, one of the leading cloud computing platform developers in the US. In 2018, the company was ranked number one by Forbes on the list of the world’s most innovative companies.

Before joining ServiceNow in 2019, McDermott had established himself as a successful leader at another software behemoth: SAP. Additionally, McDermott has been recognized as a top CEO by Glassdoor, in the US, UK, Canada, and Germany. 

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Who is Bill McDermott?

Bill McDermott, born on August 18, 1961, is an American business executive and the current Chief Executive Officer (CEO) and Chairman of ServiceNow. With a wealth of experience in the technology sector, McDermott is recognized for his leadership roles at prominent companies such as SAP SE and Siebel Systems. He was the CEO of SAP and considerably increased the company’s market worth throughout his tenure.

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Bill McDermott’s Net Worth

Unfortunately, we do not have any legitimate information on Bill McDermott’s net worth. However, several sources on the internet cite ServiceNow CEO’s net worth to fall somewhere between $80 to $120 million. In 2021, McDermott was the third highest-paid CEO among all S&P 500 CEOs, collecting more than $162 million in stock and $3.5 million in cash and various types of remuneration from ServiceNow.

As the CEO, McDermott also commands an impressive annual salary, which is reportedly $41 million.

Education

Bill McDermott completed his Bachelor’s degree at Dowling College. Following that, he attended The Wharton School’s Executive Development Program. 

Later, he pursued a Master of Business Administration (MBA) at Northwestern University’s Kellogg School of Management.

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Career

Bill McDermott started his professional journey as a Division President and Corporate Officer at Xerox in 1983. 

Following this, he became the President of Gartner in 2000. A few years later, he joined Under Armour as a Board Member in 2005, a position he held until 2019. 

In 2007, McDermott became a Board Member at ANSYS, Inc. Three years later, he was appointed the CEO of SAP. During the nine years as SAP’s CEO, McDermott increased the company’s market value from $39 billion to $163 billion. 

After leaving SAP, he served as a Board Member at SecureWorks. He then became a Board Member at Fisker Inc. in 2020. Additionally, McDermott served as a Board Member at Zoom in 2022. 

In 2019, McDermott was appointed the President and CEO of ServiceNow, a software company based in Santa Clara, California. He succeeded John Donahoe. In 2023, Bill McDermott became the Chairman of the company and continues to serve as its CEO. 

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Latest Updates

In a recent interview with CNBC, McDermott shared his thoughts on the current economic downturn, suggesting that it presents a crisis of opportunity for ServiceNow and its clients. He emphasized the company’s focus on driving innovation and growth through automation and AI. 

Also, ServiceNow’s strategic acquisition of Infocenter by its partner Insight Enterprises aims to further enhance the company’s offerings in automation and AI. 

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