Alex Dudov
Bill McDermott's story proves that success doesn't always start in a boardroom. Before becoming the CEO of ServiceNow and earning hundreds of millions, he was a teenager running a small deli in New York. His journey from that modest beginning to leading a company worth over $200 billion shows how determination, smart career moves, and a customer-first mindset can completely transform your life.
From Deli Counter to Corporate Ladder
McDermott made his first real money at 16 when he bought a struggling delicatessen in Amityville, New York. He borrowed the money from his high school basketball coach and turned the place around by focusing on what customers actually wanted. That little deli became his business school, teaching him about profit margins, customer service, and how to close a deal.
His first corporate job came in 1985 at Xerox, where he started as a basic sales rep. But McDermott wasn't basic at anything. He crushed his sales targets so consistently that within a few years, he was pulling in six figures while most of his friends were still figuring out their careers. By his late twenties, he'd already mastered the art of building relationships and turning prospects into loyal customers.
The SAP Chapter: Where Real Wealth Started
Everything changed when McDermott joined SAP in 2002. He started running their North American operations, became co-CEO in 2010, and then took over as sole CEO in 2014. This is where his bank account really started growing. By 2018, he was making around $20 million a year from salary, bonuses, and stock awards. Over his 17 years at SAP, he probably banked over $150 million total.
The numbers tell the story. Under his leadership, SAP's value jumped from about $40 billion to over $120 billion. His own stock holdings grew right along with it. This wasn't just about showing up and collecting a paycheck. McDermott was transforming how enterprise software worked, pushing SAP into cloud computing when a lot of people thought sticking with traditional software was safer.
Taking ServiceNow to New Heights
When McDermott became CEO of ServiceNow in late 2019, he was already wealthy, but this move took things to another level. His 2022 compensation hit $165 million, putting him in the top tier of American CEOs. That included his $1.5 million base salary, but the real money came from stock awards tied to company performance.
Since he took over, ServiceNow has exploded. The company's value went from around $60 billion to over $200 billion. Revenue tripled from $3.5 billion to more than $10 billion. McDermott bet big on AI-powered workflow automation, and that bet paid off massively. Pretty much every Fortune 500 company now relies on ServiceNow's platform for digital transformation.
What He's Worth Today
Right now, McDermott's net worth sits somewhere between $500 million and $600 million. Most of that comes from his ServiceNow stock, though he's still sitting on equity from his SAP days too. As the CEO of ServiceNow, he continues making over $50 million annually, though the exact number bounces around depending on stock performance and how well the company hits its targets.
His pay structure is smart. Most of his compensation comes from long-term stock awards, which means his wallet only gets fatter if shareholders are making money too. In 2023, his total compensation package was valued around $95 million. Every time ServiceNow's stock climbs, McDermott's personal fortune climbs with it.
How McDermott Says You Can Win Big
The CEO of ServiceNow doesn't keep his success formula secret. He's shared his playbook in interviews and talks, and it comes down to a few core ideas that actually make sense.
First, obsess over your customers. McDermott keeps saying that customer success is the only success that matters, and he's not just saying it to sound good. He learned this running that deli as a kid. When you solve real problems for people, they stick with you and tell others about you. That's how you build something lasting.
Second, don't play it safe. McDermott left SAP, where he was already at the top, to bet on ServiceNow when it was way smaller. He calls playing it safe the riskiest move you can make when everything's changing fast. Sometimes you have to jump to reach the next level.
Third, lead with real energy and actually care about people. McDermott's known for being genuinely excited and caring about his teams. He says people don't follow job titles, they follow energy and conviction. You can't fake passion. If you're not excited about what you're building, why would anyone else be?
Fourth, never stop learning. Even after decades of success, McDermott stays curious about new tech and trends. He credits his ability to navigate digital transformation to constantly educating himself. His advice is simple: stay curious, stay humble, stay hungry.
Finally, think long-term. McDermott built his wealth by focusing on sustainable growth, not quick wins. At both SAP and ServiceNow, he invested heavily in research and customer relationships even when it hurt short-term numbers. He believed that real value takes time to build, and his bank account proves he was right.
These aren't just nice-sounding principles. They're the actual moves that took a kid from a New York deli to the CEO of ServiceNow with half a billion dollars in the bank.
Alex Dudov
