David Sacks has an impressive net worth of around $250 million. He is well-known as a successful entrepreneur and investor in the tech industry. Sacks gained fame as the former COO of PayPal and later founded companies like Yammer, which Microsoft acquired for $1.2 billion.
His business skills and smart investments have made him a prominent figure in Silicon Valley. With his wealth, he continues to influence the tech world through various ventures and partnerships. Understanding David Sacks’ net worth gives insight into his achievements and impact on technology today.
Wiki Biography
| Category | Details |
|---|---|
| Name | David Sacks |
| Born | May 25, 1972 |
| Birthplace | Cape Town, South Africa |
| Nationality | South African-American |
| Education | BA in Economics from Stanford University |
| Juris Doctorate from the University of Chicago Law School | |
| Career Start Year | 1999 |
| Key Position | Co-founder and COO of PayPal |
| Notable Ventures | Founder of Yammer |
| Co-founder of Craft Ventures | |
| Investor in Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb | |
| Major Sales | Sold PayPal to eBay for $1.5 billion in 2002 |
| Sold Yammer to Microsoft for $1.2 billion in 2012 |
David Sacks is a well-known figure in technology. His journey began when he was born in South Africa. At age five, he moved to Tennessee. He studied hard and earned degrees from impressive schools.
After finishing school, he worked at McKinsey & Company as a management consultant. In 1999, he co-founded PayPal. This company changed how people send money online.
Later on, he started Yammer and sold it to Microsoft for $1.2 billion. Today, David is involved with many startups through his venture capital fund called Craft Ventures. His investments include big names like Facebook and Uber.
With an estimated net worth between $250 million and $2.2 billion, David Sacks plays an important role in the tech world today.
Early Life and Career Beginnings
David Sacks was born on May 25, 1972, in Cape Town, South Africa. At the age of five, he moved to Tennessee, United States, with his family. Sacks attended the Memphis University School in Tennessee. He pursued higher education and earned a Bachelor of Arts in Economics from Stanford University in 1994. Later, he obtained a Juris Doctor degree from the University of Chicago Law School in 1998.
Sacks began his career as a management consultant at McKinsey & Company, where he gained valuable experience. In 1999, he joined entrepreneur Peter Thiel at PayPal as its first Chief Operating Officer (COO). During his time there, Sacks played a crucial role in growing the company’s annual revenue to over $200 million within just three years. This success led to eBay acquiring PayPal for approximately $1.5 billion in 2002.
Rise to Fame
David Sacks gained recognition in the tech industry through his significant achievements. Born on May 25, 1972, in Cape Town, South Africa, he moved to Tennessee at five years old. Sacks attended Memphis University School and later graduated with a Bachelor of Arts in Economics from Stanford University in 1994. He earned a Juris Doctor degree from the University of Chicago Law School in 1998.
Sacks began his career as a management consultant at McKinsey & Company before joining PayPal in 1999 as its first Chief Operating Officer (COO). During his time there, he played an important role in increasing PayPal’s annual revenue to over $200 million. His efforts contributed significantly to PayPal’s initial public offering (IPO) in 2002 and its acquisition by eBay for $1.5 billion.
In 2008, Sacks founded Yammer, a social network for businesses that allowed teams to communicate more effectively. Yammer grew quickly and attracted many users, leading to its acquisition by Microsoft for $1.2 billion in 2012.
Beyond these notable companies, Sacks established Craft Ventures, a venture capital fund that invests in successful startups like Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb. His contributions continue to influence technology today while his estimated net worth ranges between $250 million and $2.2 billion.
Net Worth, Salary, and Earnings
David Sacks’ net worth is estimated between $250 million and $2 billion as of 2024. This range exists because details about his wealth remain private. His journey in accumulating wealth began with his role at PayPal, where he served as the first Chief Operating Officer (COO) and a co-founder.
Sacks founded Yammer, a business networking site, which Microsoft bought for $1.2 billion in 2012. He also co-founded Craft Ventures, a venture capital fund managing nearly $2 billion in assets. This fund invests in various successful companies across different industries.
As an angel investor, Sacks has made significant profits from selling equity stakes in companies that went public. His investments include major players like Facebook, Uber, and Airbnb. Additionally, he invested in technology firms such as SpaceX and Palantir Technologies.
His involvement extends to the cryptocurrency sector with investments in companies like BitGo and Bitcoin’s Lightning Labs. These ventures have played a crucial role in boosting his overall earnings and net worth.
Notable Works and Ventures
David Sacks has played a key role in several successful companies and projects throughout his career. His notable ventures include:
- PayPal: Sacks served as the Chief Operating Officer (COO) of PayPal. Under his leadership, PayPal grew rapidly, leading to its initial public offering (IPO) in 2002. eBay acquired PayPal for $1.5 billion later that year.
- Yammer: In 2008, Sacks founded Yammer, a social network for businesses. This platform became popular among companies for internal communications and collaboration. Microsoft recognized its potential and acquired Yammer for $1.2 billion in 2012.
- Craft Ventures: Sacks co-founded Craft Ventures, a venture capital firm that invests in various startups, particularly software-as-a-service (SaaS) companies like ClickUp, OpenPhone, and Sourcegraph.
- Geni.com: Sacks started Geni.com, which is a website focused on genealogy or family trees. MyHeritage purchased Geni.com in 2012.
- Film Production: Beyond technology, Sacks produced films such as “Thank You for Smoking,” which is a political satire film, and the biopic “Dalíland.”
- Angel Investments: He made angel investments in many well-known companies including Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb.
These ventures highlight David Sacks’ impact on the technology industry and his ability to identify promising opportunities that lead to significant financial success.
Spouse and Partner
David Sacks is married to Jacqueline Tortorice. The couple has three children together, contributing to their family life in the tech industry and beyond. Sacks often balances his professional commitments with family responsibilities, showcasing a commitment to both work and home life. Their relationship reflects a partnership that supports each other’s endeavors, particularly in the fast-paced world of technology and entrepreneurship.
Age, Weight, and Height
David Sacks is 51 years old, having been born on May 25, 1972. Current information does not provide any details about his weight and height. While these personal measurements often interest fans and the public, they remain unavailable for David Sacks at this time.
Social Media Profiles
David Sacks maintains a presence on various social media platforms, showcasing his professional achievements and insights. Below is a table summarizing his profiles:
| Platform | Profile |
|---|---|
| IMDb | David O. Sacks at IMDb |
| X | David Sacks on X |
These profiles provide followers access to his latest updates and contributions in the tech industry.
Conclusion
David Sacks’ impressive career and strategic investments have solidified his status in the tech industry. His journey from PayPal’s COO to successful entrepreneur and investor showcases a remarkable ability to identify opportunities and drive innovation. With an estimated net worth ranging significantly, Sacks continues to influence the landscape of technology through his ventures and insights. Balancing personal life with professional achievements, he exemplifies dedication both at home and in business. As he forges ahead, many will be eager to see how his contributions evolve in this ever-changing field.
Frequently Asked Questions
Who is David Sacks?
David Sacks is a notable figure in the tech industry, known for his roles as COO of PayPal, founder of Yammer, and co-founder of Craft Ventures. He has made significant contributions to various startups and investments throughout his career.
What was David Sacks’ role at PayPal?
As the COO of PayPal, David Sacks played a crucial role in its growth and success, leading to its IPO in 2002 and eventual acquisition by eBay for $1.5 billion.
What companies has David Sacks founded or invested in?
David Sacks founded Yammer, initiated Geni.com, and co-founded Craft Ventures. His angel investments include Facebook, Uber, and SpaceX.
What is David Sacks’ estimated net worth?
David Sacks’ estimated net worth ranges from $250 million to $2.2 billion, reflecting his successful ventures and strategic investments.
Is David Sacks active on social media?
Yes, David Sacks maintains an active presence on platforms like IMDb and X (formerly Twitter), where he shares insights about his professional journey and contributions to technology.
Does David Sacks have a family?
Yes, David Sacks is married to Jacqueline Tortorice and they have three children together. He balances his professional commitments with family responsibilities.
When was David Sacks born?
David Sacks was born on May 25, 1972. As of now, he is 51 years old.
Why are details about his height or weight not available?
Information regarding personal measurements like height or weight often interests fans; however, such details about David Sacks are currently not publicly available.
