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David Duffield

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American billionaire For the sports commentator, see David Duffield (sports commentator).

David Duffield
Duffield in 2005
BornDavid Arthur Duffield
(1940-09-21) 21 September 1940 (age 84)
NationalityAmerican
Alma materCornell University (AB, MBA)
OccupationBusiness software entrepreneur
SpouseCheryl Duffield

David Arthur Duffield (born 21 September 1940) is an American billionaire businessman in the software industry. He is the co-founder and former chairman of PeopleSoft, co-founder and CEO emeritus of Workday, Inc., and current founder and co-CEO of Ridgeline, Inc. He has been on the Forbes World's Richest People list for many years.

As per Forbes list of The Richest People In The World, dated 8 MARCH 2024 David Duffield ranked #132 with a net worth of $14.1 Billion.

Duffield co-founded two publicly traded enterprise software companies after age 40: PeopleSoft and Workday. He has given $303 million to companion animal welfare causes and organizations; $61 million to his alma mater Cornell University; over $100 million to expand other educational institutions close to him and his family; $13 million to local first responders and community organizations; and $2.1 million to veterans affairs. His current philanthropic interests are managed by the Dave & Cheryl Duffield Foundation. Their capstone project is Liberty Dogs, a service dog training campus in Reno, Nevada, that will match and train disabled military veterans and canine companions. This facility is planned to open in 2026.

Early life

Raised in Ho-Ho-Kus, New Jersey, Duffield graduated in 1958 from Ridgewood High School in nearby Ridgewood, where he was co-captain of the baseball team. Duffield received a bachelor's degree in electrical engineering and an MBA from Cornell University, and is the benefactor behind Cornell's Duffield Hall, a nanoscale science (or nanotechnology) and engineering facility at Cornell. While at Cornell, Duffield was a member of Beta Theta Pi.

Career

In 1964, Duffield began his career as a marketing representative and systems engineer at IBM. He left IBM to found Information Associates, which developed university exam scheduling software. In 1972, he left to start Integral Systems, which eventually became the top higher education human resources management system vendor. In 1979, he moved on to start Business Software Corporation, which provided real-time human resources and payroll applications for commercial enterprises.

PeopleSoft

Duffield founded PeopleSoft in 1987 and served as the company's CEO and board chairman. PeopleSoft grew to be the world's second-largest application software company before being acquired by Oracle in January 2005 for $10.7 billion cash.

Workday

In March 2005, Duffield and former PeopleSoft vice chair and head of product strategy Aneel Bhusri started Workday, Inc., a company that provides financial management, human capital management, and planning software delivered in the form of a software as a service (SaaS) model. The company is headquartered in Pleasanton, California, and employs more than 17,500 people today. Duffield was known as the company's chief customer and employee advocate. He relinquished the co-CEO role in May 2014 and became chairman of the board. He resigned as chairman in April 2021 and was appointed chairman emeritus and ultimately CEO emeritus by Workday’s board.

Ridgeline

Duffield founded his sixth and current company, Ridgeline, in 2017. Headquartered in Incline Village, Nevada, Ridgeline is an industry cloud software platform for investment management. The early-stage company currently employs approximately 400 people in offices in Incline Village, Reno, New York City, and San Ramon, California.

Philanthropy

Maddie's Fund

In 1994, Duffield and his wife Cheryl established Maddie's Fund, to bring change, collaboration, and innovation to the animal welfare industry. This organization is named after the Duffields’ Miniature Schnauzer who was a "lighthouse during the stormy period" of the couple's work careers. Maddie died of cancer in 1997, and Duffield acted on his earlier promise to his pet: "If we ever make some money, I promise we will give it back to you and your kind so others can be as happy as we are today."

The Duffields have endowed Maddie's Fund with more than $345 million; the organization has spent in excess of $275 million through FY2022-23.

Dave & Cheryl Duffield Foundation

The Duffields established the Dave & Cheryl Duffield Foundation (DCDF) in 2016 to continue innovative grant making in animal welfare and support for disabled military veterans. Based in Incline Village, Nevada, the foundation has supported animal welfare agencies, pet shelters, local schools, and regional community organizations including local parks and the North Lake Tahoe Boys and Girls Club. In April 2020, the DCDF made a $350,000 grant to Incline Village Community Hospital to address the COVID-19 pandemic. In response to the 2021 Lake Tahoe forest fires, the foundation donated $4 million to over 30 charities, including $2 million to the Red Cross. Additionally, DCDF pledged $10.6 million to schools serving Hohokus, New Jersey, where he grew up.

The Dave & Cheryl Duffield Foundation is currently financing the construction and development of Liberty Dogs in Reno, Nevada. This campus is planned to open in 2026. The goal is to provide disabled veterans with the ability to lead more independent and fulfilling lives through the enhanced emotional and psychological well-being that research shows a Liberty Service Dog provides.

Most recently, DCDF pledged $2 million to Maui Humane for fire relief efforts.

Cornell University

The Duffields have pledged more than $68 million to Dave's alma mater, Cornell University.

In January 1997, they donated $20 million in support of interdisciplinary engineering and scientific research and education. The new Engineering building was later renamed “Duffield Hall.”

In July 2020, the Duffields donated $5 million to establish the Duffield Family Cornell Promise Scholarship. The gift was the largest single gift to the Cornell Promise Initiative, which provides financial support to students and families facing hardship from the pandemic.

In early 2022, the Duffields also pledged $12.1 million to launch the new Duffield Institute for Animal Behavior at the Cornell University College of Veterinary Medicine.

Political activity

Together with his spouse, Duffield contributed $1.2 million to Donald Trump's 2020 presidential campaign.

Awards

1998 Golden Plate Award of the American Academy of Achievement

2013 EY Entrepreneur of the Year Award Recipient

2018 Cornell Engineering Distinguished Alumni Award – its highest alumni honor

Personal life

David Duffield is married to Cheryl Duffield. Between 2005 and 2016 they lived in Alamo, California but now live near Lake Tahoe.

References

  1. ^ "Incline hospital receives $350k grant from Duffield Foundation". www.tahoedailytribune.com. April 20, 2020. Retrieved October 9, 2020.
  2. Stoltz, Marsha A. "Ho-Ho-Kus receives $10M from tech entrepreneur David Duffield for new school gym", The Record, December 20, 2022. Accessed March 29, 2023. "The Board of Education has received a $10 million gift — the largest in its history — from tech entrepreneur and former student David Duffield for construction of a new gymnasium and wellness center, President Mary Ellen Nye announced Monday.... 'I loved my childhood in Ho-Ho-Kus,' Duffield said in a written statement."
  3. Stoltz, Marsha A. "Ridgewood alumnus donates $635,000 for high school STEAM programs", The Record, May 12, 2021. Accessed March 29, 2023. "A $635,000 alumni gift — the largest in the district's history — was announced by the Board of Education on Monday. The donation by 1958 graduate Dave Duffield via the Dave & Cheryl Duffield Foundation was designated for high school STEAM programs."
  4. "Duffield Hall Space and Reservation System – Cornell Engineering". Duffield.cornell.edu. Archived from the original on August 26, 2012. Retrieved June 2, 2018.
  5. "Distinguished Alumni". Beta Theta Pi Alumni | Omicron Chapter. November 9, 2012. Retrieved December 29, 2020.
  6. Catherine Perloff (November 3, 2019). "How David Duffield Took 20 Years And Four Startups To Develop The Corporate Culture Behind His Enterprise Software Empire". Forbes. Retrieved May 6, 2022.
  7. Paul R. La Monica (December 13, 2004). "Oracle finally reaches deal to buy PeopleSoft for $10.3B". CNN. Archived from the original on June 9, 2018. Retrieved June 2, 2018.
  8. "David Duffield". Forbes. Retrieved March 25, 2021.
  9. "Workday Leadership – Workday". Workday.com. Archived from the original on July 31, 2014. Retrieved June 2, 2018.
  10. "Stocks". Bloomberg L.P. Archived from the original on May 8, 2017. Retrieved June 2, 2018.
  11. Datta, Tiyashi. "Workday co-founder David Duffield resigns as chairman". nasdaq.com. Retrieved May 6, 2022.
  12. "Maddie's Fund 2000–2001 annual report" Archived May 9, 2013, at the Wayback Machine, p. 8.
  13. "About Maddie" Archived October 7, 2014, at the Wayback Machine, Maddie's Fund. Retrieved September 22, 2014.
  14. "Dave & Cheryl Duffield Foundation awards $3M to assisting people, animal affected by wildfires". The Sierra Sun. October 15, 2021.
  15. Dullea, Henrik L. "$20 million gift to Cornell launches new academic and research initiatives in science and engineering Donor is alumnus David A. Duffield, head of PeopleSoft Inc". Cornell Chronicle. Retrieved May 6, 2022.
  16. Kacapyr, Syl. "$5M gift launches Duffield Family Cornell Promise Scholarship". Cornell Chronicle. Retrieved May 6, 2022.
  17. "Here Are The Billionaires Who Donated To Donald Trump's 2020 Presidential Campaign". Forbes. Retrieved March 28, 2024.
  18. "Golden Plate Awardees of the American Academy of Achievement". www.achievement.org. American Academy of Achievement.
  19. Dave Duffield of PeopleSoft named entrepreneur of the year Archived April 13, 2015, at the Wayback Machine.The Free Library. 1995, Business Wire. April 10, 2015
  20. "Duffield receives Engineering's highest alumni honor". Cornell Chronicle.
  21. Dog Heaven: David Duffield's Large Bay Area Estate Seeks 9 Million Archived January 8, 2017, at the Wayback Machine The Wall Street Journal. Retrieved 21 November 2016.

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