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Steven Sarowitz

Steven Sarowitz

S. Sarowitz
-1.27% | - $-21.61M
$1.68 B ₹ 15,285 Cr
Real Time Net Worth #2324 Ranking as of 21 Feb 2026 By Forbes

More on Steven Sarowitz

Gender

Male

Age

60Y

Country

United States

Born On

August, 1965

Deceased

No

Relationship Status

Married

Children

3

Education

University Of Illinois

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Payroll Software)

Primary Organization

Paylocity

Titles

Founder & Chairman

Sources of Wealth

Paylocity

Industry

Software, Technology, Fintech

About Steven Sarowitz


S teven Sarowitz is a self-made American billionaire and the founder of Paylocity, a leading provider of cloud-based payroll and human capital management (HCM) software. He started his career working for other payroll processing companies before founding Paylocity in 1997. He built the company from the ground up, focusing on providing an integrated suite of software solutions for small and medium-sized businesses to manage their payroll, HR, and benefits.

The company's cloud-based model and focus on customer service allowed it to compete effectively with larger, more established players in the industry. Sarowitz took the company public on the Nasdaq in 2014, a move that turned him into a billionaire. He served as the company's CEO for many years before transitioning to the role of chairman. In addition to his business career, Sarowitz is a prominent philanthropist and a devout member of the Baháʼí Faith. He is also a film producer and the owner of the historic Wayfarers Chapel in California.

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Quick Reads


  • Founder of the payroll and HR software company Paylocity.
  • A self-made billionaire, he took the company public in 2014.
  • He is now the chairman of the company.
  • A devout member of the Baháʼí Faith and a major philanthropist for the religion.
  • He is also a film producer.

Early Life and Background


Steven R. Sarowitz is an American businessman, the self-made billionaire Founder and Executive Chairman of Paylocity Holding Corporation (NASDAQ: PCTY), a major provider of cloud-based payroll and HR software solutions. His career is rooted in technology, software development, and entrepreneurial audacity.

Sarowitz holds a B.A. in Economics from the University of Illinois. His philosophical approach centers on technological excellence, scale efficiency, and long-term commitment to employee culture and philanthropy (pioneering the modern HR software model for mid-market businesses). He founded Paylocity in 1997, recognizing the immense, untapped domestic demand for integrated payroll and HR solutions.

  • Paylocity Holding Corporation (Founder & Chairman): The core publicly traded asset, a major provider of cloud-based payroll and HR software (SaaS model).
  • Software Pioneer: His success is built on scale software development and dominating the domestic market for integrated, cloud-based HR and payroll systems.
  • Academic Background: He holds a B.A. in Economics from the University of Illinois.
  • Philanthropy: He is a major donor to social welfare and educational initiatives (focusing on interfaith dialogue and poverty alleviation).

Career Journey of Steven Sarowitz


Steven Sarowitz's strategic genius was his commitment to customer service and technology. He founded Paylocity in 1997, successfully building it into a global force by pioneering the SaaS model for payroll and HR management for mid-market businesses. His structural contribution is immense: pioneering the modern integrated HR software ecosystem that transformed the industry's efficiency and operations. The company successfully executed its IPO on the NASDAQ in 2014.

He stepped down as CEO (remaining Executive Chairman), guiding the company's continuous expansion and technological innovation. His wealth is secured by the colossal, long-term, stable profitability of the global SaaS and enterprise software sector.

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Steven Sarowitz's Timeline


1997:

Founds Paylocity Holding Corporation (Founding).

2014 (March):

Paylocity executes its successful IPO on the NASDAQ (Financial Milestone).

2017 (approx.):

Steps down as CEO, remaining Executive Chairman (Executive Transition).

Ongoing:

Continues as Founder and Executive Chairman, guiding the global technology giant (Executive Oversight).

Major Business Ventures and Investments


Steven Sarowitz's wealth is concentrated in his founding equity and continued executive leadership of the publicly traded technology giant, Paylocity Holding Corporation (NASDAQ: PCTY), and his private investments.

  • Paylocity Holding Corporation (Founder & Chairman): The core publicly traded asset, a major provider of cloud-based payroll and HR software (SaaS model).
  • Software Pioneer: His success is built on scale software development and dominating the domestic market for integrated, cloud-based HR and payroll systems.
  • Academic Background: He holds a B.A. in Economics from the University of Illinois.
  • Investment Strategy: His philosophy is rooted in long-term investment in software IP and leveraging the massive global shift to cloud-based HR management.

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Philanthropy and Social Impact


Steven Sarowitz's social impact stems from Paylocity's role in providing essential HR and payroll software infrastructure that simplifies operations for thousands of mid-market businesses globally. His personal philanthropy, often directed through family foundations, supports major initiatives in interfaith dialogue and education, reflecting his commitment to social harmony and community development.

His personal philanthropy supports various community and educational initiatives.

Fashion, Style, and Lifestyle


Steven Sarowitz maintains the professional, composed style of a corporate executive. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic reflects serious authority and stability, typical of a pioneer in the specialized software sector.

Residing in Highland Park, Illinois, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to technology innovation, strategic management, and philanthropy.

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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He is the Founder and Executive Chairman of Paylocity (cloud-based payroll and HR software).
  • Paylocity was sold to Thoma Bravo for $10.2 billion in 2021 (from a related source).
  • He holds a B.A. in Economics from the University of Illinois.
  • His fortune is tied to the successful monetization and scale of the HR technology SaaS model.
  • He is a major donor to interfaith dialogue and social welfare.
  • His philosophy emphasizes customer service and technological efficiency.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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