David Arthur Duffield stands as enterprise software’s most persistent innovator—a billionaire who founded not one, but two transformative human resources technology companies after age 40. As co-founder of PeopleSoft and Workday, Duffield revolutionized how organizations manage their most valuable asset: people. At 85 years old, with an estimated net worth of $13 billion as of December 2025, this Cornell-educated engineer continues leading Ridgeline, his third major software venture, while dedicating hundreds of millions to animal welfare causes. His journey from IBM marketing representative to cloud computing pioneer exemplifies Silicon Valley’s capacity for reinvention, proving that entrepreneurial success knows no age limit.
From Cleveland to Cornell: Building Technical and Business Foundations
Born September 21, 1940, in Cleveland, Ohio, David Duffield grew up in Ho-Ho-Kus, New Jersey, in a household where education was paramount. His mother, Mary, taught elementary school—including at the school young David attended. His father, Al, worked as an engineer despite lacking a college degree, instilling in David an appreciation for technical problem-solving. After graduating from Ridgewood High School in 1958, where he co-captained the baseball team, Duffield enrolled at Cornell University.
Cornell shaped Duffield’s trajectory in multiple ways. He earned both his bachelor’s degree in electrical engineering (1962) and MBA (1964), gaining the technical and business acumen that would prove essential for building enterprise software companies. At Cornell, he joined Beta Theta Pi fraternity, played pitcher on the baseball team, and performed in a band—developing the interpersonal skills and work ethic that would later define his leadership style. Most significantly, Cornell became the beneficiary of Duffield’s later philanthropy, receiving over $145 million including a transformative $100 million pledge in 2025 to expand Duffield Hall, the university’s nanoscale science and engineering facility.
The PeopleSoft Revolution: Transforming Enterprise HR Management
After graduating, Duffield joined IBM in 1964 as a marketing representative and systems engineer, learning the enterprise software market from the industry’s dominant player. However, his entrepreneurial instincts soon emerged. In 1972, he founded Information Associates, specializing in applications for higher education markets. Seven years later, he established Integral Systems, which became the first company offering DB2-based human resource and accounting systems—mainframe applications that demonstrated his understanding of both technical architecture and business needs.
The pivotal moment arrived in 1987 when Duffield, at age 47, co-founded PeopleSoft. The timing proved prescient—organizations were transitioning from mainframe computing to client-server architectures, creating demand for modern enterprise software. PeopleSoft addressed a fundamental business challenge: managing employee information, payroll, benefits, and human resources processes in integrated systems rather than fragmented departmental solutions.
Under Duffield’s leadership as CEO and board chairman, PeopleSoft exploded in growth. The company went public in 1992 and rapidly became the world’s second-largest enterprise application software company, trailing only SAP. By the early 2000s, PeopleSoft’s software managed HR and financial operations for thousands of organizations globally. Between the 1992 IPO and 2005, Duffield collected over $600 million through stock sales according to SEC filings, establishing the foundation of his current fortune.
However, PeopleSoft’s story culminated in controversy. Oracle Corporation launched a hostile takeover attempt in 2003, triggering an 18-month battle that became one of tech’s most contentious acquisitions. Despite Duffield’s fierce resistance, Oracle ultimately acquired PeopleSoft in January 2005 for $10.7 billion in cash. The acquisition proved personally devastating for Duffield, who saw his creation absorbed into a competitor and witnessed thousands of employee layoffs.
Workday: Cloud Computing Vindication and AI-Era Dominance
Most executives nearing 65 would retire after selling their company for $10.7 billion. David Duffield instead channeled his frustration into vindication. In March 2005—just months after the Oracle acquisition—Duffield partnered with former PeopleSoft vice chairman Aneel Bhusri to co-found Workday, Inc. Their vision was revolutionary: rebuild enterprise HR and financial management software entirely for the cloud computing era, avoiding the on-premise installations that characterized PeopleSoft and competitors.
Workday’s founding premise recognized that cloud-based software-as-a-service (SaaS) delivery would fundamentally transform enterprise applications. Rather than customers purchasing licenses and installing software on their servers, Workday would provide applications accessed through web browsers, with continuous updates, lower upfront costs, and superior flexibility. The company focused initially on human capital management (HCM) before expanding into financial management and analytics.
The strategy proved spectacularly successful. Workday went public in October 2012, and its market capitalization has since soared. As of December 2025, Workday serves over 11,000 organizations globally, including more than 65% of Fortune 500 companies. Recent financial performance demonstrates sustained momentum: Q3 fiscal 2026 (ended October 2025) delivered subscription revenue of $2.244 billion, up 14.6% year-over-year, with total revenue reaching $2.432 billion.
Current Workday Performance Highlights (2025):
- Subscription revenue backlog: $25.96 billion (up 17% YoY)
- Non-GAAP operating margin: 28.5% (expanding from 26.3%)
- Free cash flow: $550 million in Q3 (up 53% YoY)
- Full-year fiscal 2026 guidance: $8.83 billion subscription revenue
- AI product adoption: Over 75% of new deals include AI solutions
- Customer retention rate: 98%
Workday’s transition into AI-powered enterprise applications positions the company at technology’s cutting edge. The company has launched over 350 AI features including recruiting agents, financial close automation, and talent optimization tools. These AI capabilities generated over $50 million in incremental annual contract value in 2025, with management expecting AI to become a major growth driver. Strategic acquisitions—including Paradox ($2.17 billion), Sana ($1.1 billion), and others—expand Workday’s AI and workflow automation capabilities.
David Duffield Net Worth 2026: Sources and Trajectory
Duffield’s estimated $13 billion net worth as of December 2025 stems primarily from his Workday holdings, though his wealth composition reflects decades of enterprise software success and strategic philanthropy.
Primary Wealth Components:
Workday Holdings (85-90% of net worth): According to September 2025 SEC filings, Duffield owns approximately 17% of Workday—a stake worth roughly $11-12 billion based on the company’s $70+ billion market capitalization. However, he has strategically monetized portions of this holding, selling over $2.5 billion in Workday stock since 2013. Recent transactions show continued gradual liquidation, with sales totaling nearly $3 billion since 2021, though he maintains his major shareholder position.
Ridgeline Investment: In 2017, Duffield founded Ridgeline, a cloud-based platform for investment management firms, where he serves as CEO. He has invested $480 million in the company, valued at cost on Bloomberg’s analysis. Ridgeline represents Duffield’s third major software venture and demonstrates his continued commitment to innovation at 85 years old.
Cash and Investments: Bloomberg estimates Duffield’s cash and investable assets at $1-2 billion, accumulated through decades of stock sales and prudent investment management.
PeopleSoft Proceeds: Between PeopleSoft’s 1992 IPO and 2005 Oracle acquisition, Duffield collected over $600 million through stock sales. The $10.7 billion acquisition also provided substantial proceeds, though exact amounts aren’t publicly disclosed.
Projected 2026 Outlook: Duffield’s net worth trajectory depends primarily on Workday’s stock performance. With the company’s strong AI positioning, expanding margins, and 14% subscription revenue growth guidance, analysts project continued appreciation. Conservative estimates suggest his net worth could reach $14-15 billion by late 2026, assuming Workday maintains current growth rates and valuation multiples.
Philanthropy: Maddie’s Fund and Educational Support
Beyond business success, Duffield has emerged as one of technology’s most generous philanthropists, having donated over $550 million to causes he champions. His philanthropic focus reflects deeply personal values: animal welfare and education.
In 1999, Duffield and his wife Cheryl established Maddie’s Fund, named after their beloved miniature schnauzer who died in 1997. The foundation pursues an ambitious mission: creating a no-kill nation for companion animals by ending euthanasia in pet shelters. Duffield has contributed over $303 million to animal welfare causes through Maddie’s Fund and related initiatives. The foundation funds innovative shelter programs, veterinary education, and community pet retention efforts. In 2025, plans advanced for Liberty Dogs, a 27-acre service dog training campus in Reno, Nevada, matching and training dogs for disabled veterans.
Educational philanthropy represents Duffield’s second major commitment. Beyond the $145+ million to Cornell University, he has contributed over $100 million to educational institutions important to his family. The 2025 Cornell pledge of $100 million will expand Duffield Hall to include adjacent Phillips Hall, creating enhanced research space for quantum computing, AI, robotics, and semiconductor development—fields directly relevant to technology’s future.
The Dave & Cheryl Duffield Foundation, established in 2016 and based in Incline Village, Nevada (near Lake Tahoe where the couple resides), supports local community organizations, schools, parks, and first responders. The foundation made a $350,000 COVID-19 pandemic grant to Incline Village Community Hospital in 2020.
Conclusion: Legacy Beyond Billions
David Duffield’s net worth of $13 billion tells only part of his story. His true legacy lies in revolutionizing enterprise software twice—first with client-server applications at PeopleSoft, then with cloud-based SaaS at Workday. At 85, he continues innovating at Ridgeline while channeling hundreds of millions toward causes reflecting his values: saving shelter animals and expanding educational opportunities.
His journey demonstrates that entrepreneurial success isn’t confined to twentysomething tech founders. Duffield founded PeopleSoft at 47 and Workday at 64, proving that experience, industry knowledge, and resilient determination can trump youth. As AI transforms enterprise software, Workday’s evolution under leadership he helped establish ensures Duffield’s influence will shape how organizations manage people and finances for decades to come.
