What is David Sacks net worth in 2024? Biography & Career
David Sacks Net Worth
$1.5 billion
David Sacks net worth is estimated at $1.5 Million. He is an entrepreneur and investor in technology. In his role as COO, his strategic skills enabled PayPal to grow. Sacks is a general partner and co-founder of Craft Ventures, a well-known venture capital firm that has investments in Sourcegraph, ClickUp, and OpenPhone. Sacks co-hosts the “All-In” podcast, which discusses politics, entrepreneurship, technology, economics, and venture capital. Sacks’s many publications have an impact on finance, entrepreneurship, and technology.
David Sacks Net Worth
David Sacks net worth is estimated at $1.5 Million., demonstrating his many achievements. He became wealthy working with Yammer, which Microsoft bought for nearly $1 billion in 2012. Sacks’ astute investments in SpaceX, Uber, and Airbnb have solidified his tech and investing leadership beyond entrepreneurship.
| Net worth | $1.5 billion |
| Salary | $170 million per month |
| Source of income | Businesses and Investments |
| Profession | Entrepreneur, Author, and tech investor |
Who Is David O. Sacks?
In business and venture capitalism, David O. Sacks has shaped some of the most successful American enterprises of the previous decade. He joined the “PayPal Mafia.” in 1999 and became close to co-founder Peter Thiel. Working with billionaires in this group launched Sacks’ entrepreneurial career.
After eBay bought PayPal in 2002, Sacks established many profitable enterprises, cementing his reputation as a skilled businessman. Geni.com and Yammer were acquired by larger companies.
Sacks and Peter Thiel have written about education, politics, and entrepreneurship. Sacks’ broad career changed business and innovation with creativity, strategic vision, and entrepreneurship.
Profile Summary
| Full Name | David Oliver Sacks. |
| Nick Name | David O. Sacks. |
| Date of Birth | May 25, 1972. |
| Birth Place | Cape Town, South Africa. |
| Age | 51 years. |
| Zodiac Sign | Gemini. |
| Nationality | South African, American. |
| Religion | Jewish. |
| Famous For | Former CEO of Zenefits, former COO of PayPal, and CEO of Yammer. |
| Profession | American Entrepreneur, Investor, and Tech Executive. |
| Alma Mater | Memphis University School. |
| Qualification | B.A. in Economics from Stanford University, and a J.D. from the University of Chicago. |
| Height | 6 Feet 1 Inch (approx). |
| Weight | 70 Kg (approx). |
| Marital Status | Married. |
| Spouse | Jacqueline Tortorice (m. 2007). |
| Children | Two Daughters and One Son. |
David Sacks Early Life and Education
Sacks was born in Cape Town, South Africa, in 1972 to a Jewish family and relocated to Tennessee at five. His grandfather, a 1920s candy pioneer, inspired him. Despite family influence, Sacks doubted enterprise.
While completing a BA in Economics from Stanford University in 1994, Sacks became passionate about technology. He was fascinated by technology’s ability to change businesses and society. This realization led him to work in IT after college.
Sacks started at Microsoft and other big organizations. These tasks enable him to practice software engineering while solving challenging challenges. He was renowned for his ingenuity and problem-solving skills.
Chicago Law School awarded Sacks a J.D. in 1998. His legal curiosity never became a career. His technology legacy endures.
David Sacks Career
PayPal
In 1999, Sacks left McKinsey as a management consultant to join PayPal, created by Max Levchin and Peter Thiel. He built numerous important PayPal teams as COO and product leader. Sacks’ expertise in product management and design, sales and marketing, company growth, international expansion, customer assistance, fraud operations, and human resources molded PayPal’s strategy and operations.
PayPal’s February 2002 IPO was remarkable due to global anxiety after September 11. PayPal’s IPO rose nearly 54% on its first day, exceeding expectations. Later, eBay bought PayPal for $1.5 billion in October 2002.
Sacks was part of the “PayPal Mafia,” a group of PayPal founders and early employees who launched the technology. These pioneers helped consumer-centric internet companies rebound from the 2001 dot-com disaster, laying the groundwork for Web 2.0.
After eBay acquired PayPal, Sacks started Room 9 Entertainment, a film production company. He made and funded “Thank You for Smoking.” The 2023 biopic “Dalíland,” about the life and work of surrealist superstar Salvador Dalí, boosted Sacks’ career.
Geni.com
Sacks launched the pioneering genealogy website Geni.com in 2006. Sacks, who loved communication and knowledge, envisioned Geni as a platform for people to easily trace their history and connect with relatives globally. Sacks and Pisoni founded Yammer in 2008 from Geni’s internal messaging technology. This new platform streamlined communication and promoted teamwork and shared knowledge in the workplace. Geni thrived until MyHeritage bought it in 2012, determining Sacks’ entrepreneurial path and digital significance.
Yammer
Created the first Enterprise Social Network in 2008 to transform corporate communication and collaboration. TechCrunch50 awarded this innovative technology the highest prize, changing workplace interactions. According to Social Capital, Yammer became one of the fastest-growing SaaS companies in history, reaching eight million enterprise customers in four years through viral adoption.
Founders Fund, Emergence Capital Partners, Charles River Ventures, and Goldcrest Investments invested US$142 million in the company, accelerating its growth. This funding and commercial momentum made Yammer a significant business software startup, luring industry titans.
Microsoft bought Yammer for $1.2 billion in July 2012 to boost its cloud and social strategy. This acquisition underlined Microsoft’s commitment to leveraging cutting-edge technology to improve office efficiency and connection, making Yammer a vital participant in its diverse product lineup. The acquisition marked Yammer’s entry into a new era of innovation and cooperation under a software industry leader.
Zenefits
In December 2014, Sacks aggressively invested in HR software Zenefits. Zenefits’ board appointed Sacks as acting CEO in January 2016 due to licensing compliance issues. Sacks was lauded for his crisis management and corporate turnaround as he negotiated with US insurance officials.
Zenefits’ “Z2” product line redesign was led by Sacks during regulatory turmoil. This innovative project transformed the company’s strategy with a sophisticated SaaS business model. These efforts earned Zenefits the best HR software award from PC Magazine. Buzzfeed lost approximately $200 million annually.
Despite his achievements, Sacks was Zenefits’ CEO for 10 months. Sacks gently turned over the reins to former Ooyala CEO Jay Fulcher to forge a new trajectory. Zenefits’ regulatory problems, strategy recalibration, and Sacks’ relentless innovation ended with this transfer.
Angel funds
For two decades, Sacks has advised several pioneering technology companies with his incisive perception and strategic acumen. His amazing portfolio of company titans and innovators displays his angel investor vision that can transform.
Addepar, a wealth management software company, and Affirm, a fintech platform reinventing consumer lending, are his major investments. Airbnb and Bird, an electric scooter-sharing firm, were Sacks’ hospitality investments.
He supports Clutter, a cutting-edge storage solution, and Eventbrite, a pioneering event management and ticketing platform. Sacks invests in Facebook and SpaceX, which are transforming global communication and privatizing space exploration.
In addition to these enterprises, Sacks has invested in Intercom, a consumer messaging platform, and Opendoor, a real estate technology pioneer. His investments include Wish, Scribd, and others.
His IT investment legacy illustrates his commitment to innovation and positive change. A technology investing luminary, his inventive investments have helped organizations develop and redefine industry norms.
Craft Ventures
Late in 2017, Sacks co-founded disruptive entrepreneur venture capital firm Craft Ventures. Craft Ventures provided $350 million in starting money to several potential companies. The firm’s extraordinary rise in 2021 brought total assets under management to $2 billion, up $1.1 billion. Bird, ClickUp, Pipe, Reddit, SourceGraph, and SpaceX are Craft Ventures unicorns, proving Sacks can uncover and grow exceptional firms.
Awards and Recognition
- The San Francisco Entrepreneurial Times’ 2012 40 Under 40 list recognized David Sacks’ early entrepreneurial accomplishments. He was recognized for his industry contributions.
- Sacks won the 2011 Workforce Management Game Changers Award for his innovative workforce management. He was honored by industry peers and experts for his unique approaches.
- The San Francisco Business Times Bay Area’s Most Admired CEOs list included Sacks that year. This prize confirmed his Bay Area corporate leadership. The ranking honored his leadership and positive impact on his organization and the business sector.
David Sacks’ personal life
David Sacks married Saint Haven creator Jacqueline Tortorice in 2007. Joy and fulfillment come from their three children—a boy and two daughters. San Francisco is recognized for its culture and creativity, where the Sacks live.
| Marital status | Married |
| Partner | Jacqueline Tortoise |
| Parents | Samuel Sacks (Father)Muriel Elsie Landau (Mother) |
| Siblings | Jonathan Sacks (Brother) |
| Children | Three |
David Sacks’s wife
David Sacks’ wife Jacqueline Tortoise is an accomplished entrepreneur and philanthropist. The couple married on July 7, 2007, starting their vacation. Jacqueline runs Saint Haven, a skin-friendly clothing brand. She loves raising their three children and volunteering in the community in addition to her business profession.
The Sacks Family Foundation’s board of directors uses Jacqueline’s expertise to help charities.
Philanthropy and Personal Investments
With generosity and clever investments, David Sacks has diversified his financial portfolio like many affluent people worldwide. Along with clever investing, Sacks donates much of his wealth. His goal is to better the world beyond startups and digital enterprises. Sacks has donated millions to healthcare, education, and sustainability. Importantly, Sacks Family Foundation and Craft Ventures donate. He invests in Craft Ventures, but the Sacks Family Foundation supports Texas education, performing and fine arts, amateur sports, and animal and child welfare organizations.
Influence on Silicon Valley and Tech Startups
David Sacks became famous in tech for his insights and dedication to creativity. Sacks’ computer sector experience gave him a sharp eye for new ideas and technologies. This understanding has helped him support and advance many revolutionary projects over the past two decades, making him an industry leader.
A “founder-friendly” venture capital approach that aligns investor and founder interests is also promoted by Sacks. This idea complements his belief in assisting businesses and establishing effective workplaces. Thus, many expanding internet enterprises seek money, strategic guidance, and help from Sacks.
His influence extends beyond investing, shaping Silicon Valley and tech. He is a high-tech leader and investor known for his commitment to innovation and founders.
Political View
“The Rape Issue” and Stanford Review
While writing for Thiel’s student newspaper, The Stanford Review, Sacks met his business partner, Peter Thiel. At The Review, Sacks fiercely defended a senior who had pleaded not guilty to statutory rape allegations. The paper “The Rape Issue” highlighted this defense. Sacks’ detailed depiction of the victim’s 17th birthday and oral sex abilities sparked debate.
Myth of Diversity
After graduating from Stanford, Sacks and Thiel co-authored “The Diversity Myth: Multiculturalism and the Politics of Intolerance at Stanford,” published by the Independent Institute in 1995. This book opposes higher education political correctness and advocates intellectual diversity. Sacks denounced US affirmative action in Stanford Magazine the next year. His statement argued affirmative action has affected underprivileged populations and created segregation at Stanford University in the name of diversity. Sacks apologized for calling date rape “belated regret” and challenging men’s sole blame in 2016.
Political campaign support
Sacks made several political donations, according to FEC data. He gave Mitt Romney’s 2012 campaign $50,000. The Clinton campaign received $70,000 from him in 2016.
Sacks campaigned for San Francisco Board of Education recalls against Collins, Moliga, and Lopez in 2022. He was a major recall contributor. Sacks and his former partner Keith Rabois co-sponsored a Republican campaign fundraiser in April 2022. That year, Sacks gave over $1,000,000 to GOP Senate candidates like J. D. Vance and Blake Masters.
Sacks became popular on Twitter Spaces on May 24, 2023, when he moderated Ron DeSantis’ 2024 presidential campaign announcement. The occasion saw Sacks publicly praise DeSantis and gift $50,000 to his campaign.
Later in June 2023, Sacks hosted a high-profile fundraiser where attendees paid $10,000 a plate to support Robert F. Kennedy Jr., demonstrating his willingness to work with all politicians.
David Sacks Private Jet
Sacks loves luxury and owns their jets. His recent purchase is the largest-cabin Gulfstream G700 business jet. He is dedicated to air travel comfort and ease with this $78 million aircraft. His jets flew 1,100 hours in 2023, or 48 days. Such substantial utilization shows Sacks’ frequent travels and the importance of his private jets to his business and personal life.
David Sacks Yacht
Sacks bought a Philippe Starck 60-meter boat in 2020. Sacks’ $38 million yacht is his retreat and a reflection of his taste. The yacht boasts a spa, premium theater, and a secret submarine for underwater experiences in addition to its massive size. It exhibits Sacks’ grandeur and desire for unequaled oceanic serenity.
David Sacks House
Sacks acquired an 11,000-square-foot Atherton mansion in 2016. This luxurious property boasts six bedrooms, a modern home theater, a sparkling pool, and a four-car garage. It symbolized Silicon Valley opulence, with lush foliage and famous neighbors like Larry Ellison and Sheryl Sandberg.
San Francisco’s “Billionaire’s Row” Home: Sacks’ 2012 purchase of a half-built home at 2845 Broadway on “Billionaire’s Row” caused ripples. A gigantic 6,000-square-foot guest house accompanies this 17,500-square-foot estate. When listed at $65 million, it epitomized elegance and status in one of the city’s most elite neighborhoods.
Notable David Sacks Quotes
“Don’t be afraid to take risks. The biggest failures often lead to the biggest breakthroughs. – (David Sacks).”
“It’s our responsibility as builders and investors to ensure that technology is used for the benefit of humanity. – (David Sacks).”
“Silicon Valley isn’t just about building tech companies. It’s about building the future. We have a responsibility to use our resources and ingenuity to solve the world’s most pressing problems. – (David Sacks).”
David Sacks On Social Media
David Sacks is a famous IT and social media influencer with influence across platforms. His social media engagement includes over 1.2 million Twitter followers (X) and 441K YouTube subscribers. Sacks communicates with his audience on various social media networks, including LinkedIn, where he has 14.3k followers. His activity on many platforms makes him a notable digital influencer, providing followers with insightful and engaging information. Connect with him or read his postings on these platforms to keep up with his latest projects and views.
| 731k Followers | Follow Now | |
| 14.3k Followers | Follow Now | |
| YouTube | 395k Subscribers | Follow Now |
Frequently Asked Questions about David Sacks
What is David Sacks’ net worth?
David Sacks’ estimated net worth as of 2024 is $1.5 billion.
What are David Sacks’ notable investments?
Sacks has made strategic investments in companies such as SpaceX, Uber, Airbnb, and Affirm, among others.
What is Craft Ventures?
Craft Ventures is a venture capital firm co-founded by David Sacks that supports disruptive entrepreneurs and innovative startups.
What philanthropic initiatives is David Sacks involved in?
Sacks is actively involved in philanthropy, contributing to causes related to healthcare, education, environmental sustainability, and more through the Sacks Family Foundation and Craft Ventures.
What are David Sacks’ notable properties?
Sacks owns luxurious properties including an estate in Atherton, California, and a mansion on San Francisco’s “Billionaire’s Row.”
What is David Sacks’ role in the tech industry?
David Sacks is a prominent figure in the tech industry, known for his strategic insights and investments in transformative technologies.
Conclusion
David Sacks is tech, entrepreneurship, and investment-savvy. Sacks established Craft Ventures after overseeing PayPal as COO, demonstrating his business acumen. He has a wider impact than business. Philanthropy reflects Sacks’ social development commitment. Sacks redefine technology and venture capitalism with a diverse investment portfolio and track record of startup growth. His generosity, investing acumen, and leadership influence worldwide business and innovation.
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