This article will explore the “David Sacks Net Worth” and the “David Sacks bio”. David Sacks has established himself as a significant figure in the tech and venture capital world.
He was the first Chief Operating Officer of PayPal and co-founded Geni.com and Yammer.
Sacks is a prominent player in Craft Ventures. Additionally, he co-hosts the well-known podcast All-In, discussing venture capital, tech, startups, economics, and politics.
Introduction of David Sacks | David Sacks Bio
David Oliver Sacks is a multi-faceted entrepreneur, author, and investor in internet technology companies. He co-founded Craft Ventures, a venture capital fund, in 2017. Prior to co-founding Craft Ventures, Sacks occupied significant roles.
He was the founding COO and product leader of PayPal. Additionally, he served as the founder/CEO of Yammer. For a brief period in 2016, he served as the interim CEO of Zenefits.
In addition to his venture capital work, Sacks has made angel investments. These investments include prominent companies such as Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb. He also co-hosts the podcast All In.
David Sacks Early Life
Sacks was born in Cape Town, South Africa on 25 May 1972. At the age of five, he moved to Tennessee, United States, with his family.
Unlike his father, an endocrinologist, Sacks had no desire to follow the same profession. Instead, he was inspired by his grandfather’s candy factory established in the 1920s. Entrepreneurship was not initially on his mind.
David Sacks Education
Sacks studied at Memphis University School in Memphis, Tennessee. Later, he pursued a B.A. in economics at Stanford University in 1994. Subsequently, he obtained a J.D. degree from the University of Chicago Law School in 1998.
Personal Life: David Sacks Wife
On July 7, 2007, David Sacks was married to Jacqueline Tortorice. They are two daughters and one son. Their names are not known.
David Sacks Career
David Sacks PayPal
In 1999, Sacks left McKinsey & Company to join PayPal. He assumed the roles of COO and product leader, building essential teams and overseeing various functions.
Under Sacks’ leadership, PayPal experienced remarkable growth. Payment volume soared to $3.5 billion; revenue exceeded $100 million in 2001. The company expanded globally, and its IPO in 2002 was a success.
Following PayPal’s acquisition by eBay for $1.5 billion, Sacks joined the esteemed “PayPal Mafia.” This group comprises accomplished tech founders and early employees.
They inspired Web 2.0 significantly. Additionally, they contributed to the resurgence of consumer-focused Internet companies after the dot-com bust.
David Sacks Book
David Sacks’ book, The Diversity Myth, is a controversial critique of multiculturalism and affirmative action on college campuses. Sacks argues that these policies have led to a decrease in free speech and intellectual diversity on campuses.
He also argues that affirmative action is leading to the admission of students who are not qualified to be at Stanford, which is lowering the academic standards of the university.
Thank You for Smoking
After PayPal’s acquisition, Sacks founded Room 9 Entertainment, his independent production company. He also financed the movie “Thank You for Smoking.”
Thank You for Smoking, based on Christopher Buckley’s novel, was adapted for the screen by director Jason Reitman.
The film offers a satirical perspective on the culture of spin. It featured an impressive cast, including Aaron Eckhart, William H. Macy, Sam Elliott, Rob Lowe, Maria Bello, Katie Holmes, Adam Brody, and Robert Duvall.
In 2007, Thank You for Smoking received two Golden Globe nominations for Best Picture and Best Actor in the Comedy/Musical category.
The film received multiple 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.
- Best Adapted Screenplay at the Washington D.C. Area Film Critics Association Awards and the San Diego Film Critics Association Awards.
- Named one of the Top Films of the Year by the New York Film Critics Online.
David Sacks Geni.com
In 2006, Sacks founded Geni.com, a genealogy website. The platform enables families to collaboratively build online family trees.
He later developed an internal productivity tool at Geni, which led to the creation of Yammer in 2008. In 2012, Geni was acquired by MyHeritage.
David Sacks Yammer
In 2008, Yammer launched the first Enterprise Social Network. It gained recognition and won the grand prize at the TechCrunch50 conference.
Its viral approach led to rapid growth, reaching over eight million enterprise users in four years. Yammer received around $142 million in funding from notable venture capital firms.
In July 2012, Microsoft acquired Yammer for $1.2 billion. This acquisition positioned Yammer as a crucial component of Microsoft’s cloud/social strategy.
David Sacks Zenefits
In December 2014, Sacks made a significant investment in Zenefits. Due to a regulatory crisis, he became the interim CEO in January 2016.
Over the next year, Sacks successfully resolved licensing compliance issues, earning praise for his efforts.
He introduced the “Z2” initiative, transforming Zenefits’ product line with a SaaS business model. Despite accolades for the product, the company faced financial challenges, losing over $200 million per year.
After 10 months as CEO, Sacks was succeeded by Jay Fulcher, former CEO of Ooyala.
David Sacks Angel investments
For two decades, Sacks has been an active technology investor. His angel investments comprise a wide range of prominent companies, including Addepar, Affirm, Airbnb, Bird, Clutter, Eventbrite, Facebook, Gusto, Houzz, Intercom, Mixpanel, Opendoor, Palantir Technologies, PayPal, Postmates, ResearchGate, Rumble, Scribd, Slack, SpaceX, SurveyMonkey, ThirdLove, Uber, and Wish.
David Sacks Craft Ventures
In late 2017, Sacks co-founded Craft Ventures and raised an initial fund of $350 million. In 2021, the company raised $1.1 billion, bringing total assets under management to $2 billion.
Craft Ventures Fund I and Fund II have invested in unicorns such as Bird, BitGo, ClickUp, Pipe, Reddit, SourceGraph, and SpaceX.
David Sacks Political views
The Diversity Myth: Multiculturalism and Political Intolerance on Campus
In college, Sacks co-authored “The Diversity Myth” with Peter Thiel in 1995. The book criticized political correctness and advocated for more intellectual diversity on campuses.
In 2016, Sacks issued an apology for certain aspects of the book. He acknowledged making insensitive remarks about date rape.
Sacks has supported candidates from both the Republican and Democratic parties. He made donations to the presidential campaigns of Mitt Romney and Hillary Clinton.
He made significant contributions to the recall elections of San Francisco Board of Education members. Sacks also supported Republican candidates like J. D. Vance and Blake Masters.
Sacks moderated Ron DeSantis’ 2024 presidential campaign announcement on Twitter Spaces. During the event, he praised DeSantis and made a donation to his campaign.
Additionally, he hosted a fundraiser for Robert F. Kennedy Jr. in June 2023.
David Sacks Net Worth and David Sacks Bio-Data
|Real Name/Full Name||David Oliver Sacks|
|Nick Name||Mario Lopez|
|Date Of Birth||25 May 1972|
|Age||51 years old|
|Birth Place||Cape Town, South Africa|
|Parents Name||Father– NA|
|Wife Name||Jacqueline Tortorice (m. 2007)|
|Children Name||Three children (Two daughters, one son)|
|Profession||Tech entrepreneur, Investor, Author|
|David Sacks Net Worth||$200 million|
David Sacks Twitter, Website and Other Social Media Profiles
|Social Media Site||Linked Destination|
|David Sacks Website||Click Here|
|David Sacks Twitter||Click Here|
|David Sacks Youtube||Click Here|
|David Sacks Linkedin||Click Here|
David Sacks Net Worth
David Sacks is indeed a billionaire. As of 2023, David Sacks net worth is $200 million. He has accumulated his wealth through his endeavors as an entrepreneur and investor.
David Sacks Yacht
David Sacks no longer owns a yacht. In 2022, he sold his yacht named Rainmaker. The 112-foot Westport yacht was built in 2001 and had a cruising speed of 20 knots. It could accommodate 8 guests in 4 staterooms.
David Sacks Private Jet
David Sacks reportedly owns a Gulfstream G550 private jet. The G550 is a long-range, twin-engined aircraft that can accommodate up to 19 passengers.
With a top speed of Mach 0.85 and a range of 6,750 nautical miles, it is favored by the wealthy.
He purchased the yacht in 2011 for $12 million, later selling it for $10 million in 2022. The yacht, now named Milk Money, belongs to a group of investors from Florida.
Sacks’ G550 is equipped with luxurious amenities, including a bed, shower, and entertainment system. These features ensure comfort during his travels.
His private jet is a valuable asset for business and personal travel. It enables him to reach any destination quickly and comfortably.
David Sacks Awards and Recognition
David Sacks has received several awards and recognitions, including:
- San Francisco Business Times 40 Under 40 (2012)
- Workforce Management Game Changers Award (2011)
- San Francisco Business Times Bay Area’s Most Admired CEOs (2011)
FAQ – David Sacks Net Worth
What is David Sacks Real Name?
David Sacks’s Real Name is David Oliver Sacks.
What is David Sacks’ net worth?
David Sacks’ net worth is approximately $1.5 billion.
Where was David Sacks born?
David Sacks was born on 25 May 1972, in Cape Town, South Africa.
Where does David Sacks live?
He lives in San Francisco, California.