Steve Sarowitz Net Worth

Steve Sarowitz has an estimated net worth of $2.2 billion, according to Forbes Real-Time Billionaires, Steve Sarowitz profile (figures as of October 20, 2026). That is up from $1.3 billion in 2019.

Steve Sarowitz is an American businessman best known for founding the online payroll company Paylocity. He started the firm in 1997 after working at several other payroll businesses. That company became the main reason he became a billionaire. Sarowitz is self-made, and Forbes places him in the technology industry. He later stayed on Paylocity's board while stepping away from day-to-day operations.

Much of Sarowitz's wealth came from his stake in Paylocity as the company grew and reached the public market. He owned 44% of the business at its IPO in March 2014, and 28% in April 2019. Outside payroll software, he cofounded and co-chairs Wayfarer Studios, a film company focused on inspirational stories. He also became known for major philanthropy, giving nearly $250 million to Julian Grace and Wayfarer.

How Steve Sarowitz built his fortune

Sarowitz made his money in payroll software. After time at several other payroll firms, he launched Paylocity in 1997. The company offers online payroll services, and that business became the foundation of his fortune. His ownership stake was a big part of the story. According to background details, he held 44% of Paylocity at its IPO in March 2014, then 28% in April 2019.

He is no longer involved in Paylocity's operations, but he still serves on the board. Sarowitz has also put money and time into projects outside software. He cofounded and co-chairs Wayfarer Studios, which produces films with inspirational messages. One of its best-known releases was It Ends with Us, starring Blake Lively, which was one of the top-grossing films of 2024. He has also directed large sums toward philanthropy and private giving.

Forbes wealth estimate over time

Forbes has tracked major changes in Sarowitz's estimated fortune over the years. On the Forbes World's Billionaires List, he was at $1.3 billion in 2019. That later climbed to $2.8 billion in 2022. By 2024, Forbes estimated his wealth at $2.4 billion, followed by $2.5 billion in 2025. Those shifts fit with a fortune tied mainly to a technology company he founded and still helps oversee as a board member.

The later numbers show another drop and then a rebound. Forbes put Sarowitz at $1.7 billion on the 2026 World's Billionaires List. On Forbes' real-time billionaires tracker, he was later estimated at $2.2 billion as of October 20, 2026. Beyond company ownership, his money story also includes large charitable commitments. Forbes says he has contributed nearly $250 million to Julian Grace and Wayfarer, and he closed Wayfarer Foundation in 2025 to focus on private giving.