Stephen D. Nadauld was born in Idaho Falls, Idaho. He graduated from Brigham Young University, then continued to the Harvard Business School for his MBA. At Harvard he belonged to the East Coast Championship rugby team.
Nadauld went to University of California at Berkeley to be an instructor of finance, and he was named “outstanding teacher of the year” there. In 1985 he became president of Weber State College and served a year as chairman of the Big Sky Council of Presidents.