David Sacks net worth is estimated to be approx $250 million. It’s crucial to keep in mind, though, that changes in net worth over time can be caused by a variety of things, including changes in the value of investments. Entrepreneurship, managerial positions, and early investments in businesses like Twitter, Facebook, Uber, SpaceX, Tesla, Palantir, and many more helped Sacks accumulate his riches.
A well-known American businessman, investor, and software executive, David Sacks was born in Cape Town, South Africa, in 1972. David Sacks graduated from Stanford University with a B.A. in Economics and from the University of Chicago Law School with a J.D.
In the past, he has held positions at PayPal as COO, as the founder and CEO of Geni.com, as the co-founder and CEO of Yammer, and for a brief while, as the temporary CEO of Zenefits. Sacks has furthermore made investments in significant internet firms including Facebook, Uber, and Airbnb.
At Craft Ventures, a venture capital company founded in 2017 with a focus on early-stage technology investments, David Sacks is now a founding partner. Sacks continue to help and coach startups and business owners through Craft Ventures, assisting them in achieving success and development. Along with Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg, he has a strong presence on the All In Podcast.
This article will include information about David Sack net worth, estimated net worth in 2023, salary, home, car, endorsement deals, personal life, biography, and favorite items, as well as his professional career and social media profiles.
David Sacks Net Worth
|Real Name||David Sacks|
|Nick Name||David Sacks|
|Live||Broadway Street, San Francisco, United States.|
|Place of Birth||South Africa|
|Net Worth||$250 Million|
David Sacks Net Worth Growth in the Last 5 Years
David Sacks Personal Life
South Africa’s Cape Town is where David Oliver Sacks was born. He studied at Stanford University and graduated with a bachelor’s in economics. David enrolled at the University of Chicago Law School after graduating from Stanford, where he obtained his Juris Doctor in 2018. He has since worked for other law firms in Illinois and California.
David Sacks wed Jacqueline Tortorice in 2007, and the couple has three children: two daughters, Chloe and Kelly, and a boy, Andrew. Chicago is where the pair presently calls home.
David Sacks Early Life
David Oliver Sacks was born on May 25, 1972, in Cape Town, South Africa. When he was five years old, his family moved to Tennessee in the United States. His grandpa, who owned a candy business in the 1920s, influenced him more than his father, who was an endocrinologist. He leaned more towards business as a kid because of this.
He enrolled in Memphis University School to start his academic career before transferring to Stanford University, where he graduated with a bachelor’s in economics in 1994. Sacks graduated with a doctorate in law from the University of Chicago Law School four years later.
Sacks moved to Tennessee, in the United States, with his family when he was five years old. Sacks did not know he intended to start his own business, but he did not want to follow in the footsteps of his father, an endocrinologist. He was influenced by his grandpa, who in the 1920s opened a confectionery factory.
In Memphis, Tennessee, Sacks attended Memphis University School. David graduated from Stanford University with a B.A. in economics in 1994 and the University of Chicago Law School with a J.D. in 1998.
How David Sacks Make Money?
Entrepreneur and venture capitalist David Sacks has been engaged in several noteworthy initiatives. He is most recognized for his work with the online payment system PayPal, where he held the positions of Chief Operating Officer and CEO. He was a member of the PayPal Mafia, an organization made up of former PayPal employees who have gone on to achieve success in the IT sector.
He started Geni.com after quitting PayPal in 2002 and was engaged in Yammer’s initial public offering (IPO), which was later bought by Microsoft for more than $1 billion. In addition, he served as executive producer of Christopher Buckle’s Oscar-winning film Thank You for Smoking.
At Craft Ventures, a venture capital company that specializes in making early investments in digital businesses, Sacks is a partner at the moment. Along with many other firms, he has invested in Uber and Airbnb. From 2017 until 2019, he established and oversaw Craft Ventures, a San Francisco-based startup fund.
He has backed companies including Uber, Airbnb, SpaceX, and Coinbase. Sacks founded and currently serves as the CEO of the HR SaaS platform for companies called Zenefits. In 2013, he co-founded Zenefits, and from 2013 until 2016, he served as its temporary CEO. In addition, he helped form the early-stage business fund Social+Capital. His investments have been crucial to the development of several businesses and have fueled the expansion of the IT sector.
The investments David Sacks has made show his dedication to and confidence in the IT sector. Silicon Valley has undoubtedly benefited from his work with the genealogy website and angel investments, and his contributions will continue to influence how business and technology develop in the future. His investments show his dedication to achievement, innovation, and advancement.
His investments have significantly impacted the tech sector, and prestigious magazines like Forbes, Silicon Valley Insider, The New York Times, and Fortune Magazine have all acknowledged his achievements. David Sacks is a reputable leader and investor in the IT industry thanks to his decades of experience and expertise in the sector.
David Sacks Career
Sacks quit his position as a management consultant for McKinsey & Company in 1999 to join PayPal, an e-commerce firm that Max Levchin and Peter Thiel had co-founded the year before. He established many of the important teams for PayPal while serving as its COO and product leader, and he was in charge of the company’s activities for product management and design, sales and marketing, business development, international, customer support, fraud operations, and human resources.
During his leadership, PayPal increased income from nothing to over $100 million in 2001 and payment volume from nothing to $3.5 billion annually. The business introduced business accounts and grew into more than 80 nations and several currencies.
In February 2002, PayPal launched its first public offering. One of the first IPOs following the September 11 attacks was this one. On the first day, the stock increased by more than 54%. PayPal was purchased by eBay for $1.5 billion.
The sack is a part of the so-called “PayPal Mafia,” a group of PayPal’s founders and employees who later founded several other prosperous technological firms. They are frequently regarded as being the driving force behind Web 2.0 and the resurgence of consumer-oriented Internet businesses following the dot com bust of 2001.
Thank you for Smoking
Through his production firm, Room 9 Entertainment, Sacks created and raised the money for the motion picture Thank You for Smoking after PayPal’s purchase.
Thank You for Smoking, a satirical examination of the spin culture, is based on Christopher Buckley’s 1994 novel of the same name and was adapted for the big screen by filmmaker Jason Reitman. Aaron Eckhart, William H. Macy, Sam Elliott, Rob Lowe, Maria Bello, Katie Holmes, Adam Brody, and Robert Duvall were among the actors who starred.
Two 2007 Golden Globe nominations for Best Picture and Best Actor in a Comedy/Musical went to Thank You for Smoking. Additionally, the film was recognized with Best Adapted Screenplay at the Washington D.C. Area Film Critics Association Awards and the San Diego Film Critics Association Awards, Best Screenplay at the Independent Spirit Awards, Audience Awards at the Munich and Norwegian Film Festivals, Best First Feature at the Toronto Film Critics Association Awards, and Top Films of the Year at the New York Film Critics Online.
Sacks founded Geni.com in 2006 to allow family members to work together to develop an online family tree. He wanted more information about what was going on at Geni, so the team created a productivity tool to encourage staff members to share information. In 2008, Sacks and Yammer’s co-founder Adam Pisoni turned the internal messaging network into a separate company. Geni was bought by MyHeritage in 2012.
Yammer was recognised as the winner of the top prize at the TechCrunch50 conference in 2008 for establishing the first Enterprise Social Network, a secure platform for inside-company communication and collaboration. Yammer surpassed eight million enterprise users in just four years, according to Social Capital, making it one of the Software-as-a-Service (SaaS) enterprises with the quickest pace of growth in history.
Venture capital organizations including Charles River Ventures, Founders Fund, Emergence Capital Partners, and Goldcrest Investments provided Yammer with funds totalling about US$142 million. Microsoft bought Yammer for $1.2 billion in July 2012 as a key cloud/social strategy component.
Sacks made a “major investment” in Zenefits in December 2014. Zenefits’ board requested him to serve as temporary CEO in January 2016 due to a “regulatory crisis” with the organization’s licensing compliance. Sacks received plaudits for “righting the ship” during the next year as he worked with insurance regulators throughout the country to settle.
David also changed the Zenefits product line by adopting a SaaS business model through an effort he called “Z2”.
David has made a lot of investments in the last 20 years and some of the companies in which he invested are:
- and many more…
Sacks co-founded Craft Ventures in late 2017 with a $200 million inaugural investment. In 2021, Craft raised $1.1 billion, bringing the total funds under control to $2 billion, according to a Medium post by the business.
David Sacks Political Views
The Diversity Myth
Sacks co-authored the Independent Institute book The Diversity Myth: Multiculturalism and the Politics of Intolerance at Stanford in 1995 with Peter Thiel, who was Sacks’ undergraduate flatmate. The book makes a case for increased intellectual diversity on college campuses and criticizes political correctness in higher education. Sacks issued an apology in 2016 for several passages in the book, including one where he referred to date rape as “belated regret” and questioned why “all the blame is placed on the man?”
Support for Political Campaigns
Sacks gave $50,000 to Republican Party nominee Mitt Romney’s presidential campaign in 2012, according to the Federal Election Commission. David contributed an amount of $70,000 to Hillary Clinton’s presidential campaign in the year 2016.
Sacks made one of the highest contributions in support of the recall of Collins, Moliga, and Lopez from the San Francisco Board of Education in the 2022 election. He also actively supports Republican politicians, co-sponsoring a spring 2022 fundraiser with his former partner and colleague Keith Rabois for GOP senate aspirants J. D. Vance and Blake Masters.
David Sacks Awards and Achievements
- 40 Under 40, San Francisco Business Times, David Sacks (2012)
- David Sacks (2011) received the Workforce Management Game Changers Award.
- Bay Area’s Most Admired CEOs, according to San Francisco Business Times (2011)
David Sacks Social Media Profiles
David Sacks has a significant fan base, with 620 followers and 107 posts on Instagram, and 671.3k on Twitter.
David Sacks’ business ventures, management positions, and investments have had a considerable influence on the technology sector. David Sacks net worth is over $250 million, has been active in several lucrative businesses, including PayPal, Yammer, Geni.com, and Craft Ventures. He continues to coach and assist businesses as a founding partner of Craft Ventures, and he is a major player in the cryptocurrency industry.
How many Businesses has David Sacks invested in?
The active investments David Sack made are the main reason for his success and progress. He has reportedly invested in over 80 enterprises, and he has done so across a variety of industries and business types. Additionally, he actively invests in start-ups that he believes have promise.
Where does David Sacks invest his money?
David Sacks spends his money on a variety of initiatives, including cryptocurrency, in addition to his active involvement in other firms.
When did David Sacks leave PayPal?
The active role that David Sacks performed throughout his tenure with PayPal contributed to his ascent to popularity and the development of his profession. However, after the firm was acquired by eBay in 2002, David also left the organization to start his commercial initiatives, which he has been able to accomplish rather effectively ever since.
What is David Sacks net worth?
David Sacks net worth is estimated to be $250 million.