David Sacks Net Worth 2024
Updated: May 22, 2024
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David Sacks is an author, inventor and entrepreneur in the firm of technology. David Sacks helped shape the tech industry through iconic companies like PayPal and Yammer. As a successful entrepreneur and investor, he has a lot of wealth. Let’s explore David Sacks net worth and all about his life.
How Much is David Sacks Net Worth?
As of 2024, David Sacks’ net worth stands at an estimated $2 billion. He earned most of his wealth as an early executive at PayPal and founded the enterprise collaboration company Yammer, which sold to Microsoft for $1.2 billion in 2012. Sacks also profits from a venture capital firm and has invested in numerous high-growth startups over the past two decades.
Where Did He Make His Money?
PayPal – Sacks was the COO who helped scale PayPal into a payments powerhouse before its $1.5 billion sale to eBay in 2002. He received millions from stock.
Yammer – As founder and CEO from 2008-2012, Sacks built Yammer into a leading business communication platform. He pocketed over $100 million from its acquisition.
Founders Fund – Sacks co-founded this top VC firm in 2005, funding tech giants like Facebook, Airbnb, Palantir, SpaceX, Stripe, and more.
Investments – As a super angel, Sacks’ early bets on companies like Instagram, Anthropic, Flexport, and Dapper Labs have reaped huge returns.
Public Speaking – Sacks commands high fees for talks focused on startups, tech trends, and his experiences.
Books – His thought-leadership books on management and entrepreneurship, like The Diversity Myth, also earn ongoing royalties.
Salary and Investments
| Year | Salary | Net Worth |
|---|---|---|
| 1998 | $500,000 (PayPal salary) | $1 Million (Estimated) |
| 2002 | $20 Million(PayPal stock sale) | $25 Million (Estimated) |
| 2008 | $5 Million(Yammer/investments) | $50 Million (Estimated) |
| 2012 | $120 Million(Yammer sale) | $300 Million (Estimated) |
| 2018 | $150 Million (Fund returns) | $1 Billion (Estimated) |
| 2022 | $100 Million (Fund/stock gains) | $2 Billion (Estimated) |
As you can see, Sacks profited immensely from his entrepreneurial successes and wise subsequent investments to achieve billionaire status in just over 25 years.
Early Life
David Sacks was born in 1966 in Scarsdale, New York. He attended Brown University and graduated with a degree in applied mathematics in 1988. Sacks then worked as a programmer and product manager in the early online services industry.
Biography
| Category | Description |
|---|---|
| Full Name | David Oliver Sacks |
| Birthdate | May 25, 1972 |
| Birthplace | Cape Town, South Africa |
| Education | Bachelor’s degree in Computer Science from Stanford University |
| Career | Co-founder of PayPal, Yammer, and Craft Ventures |
| Notable Roles | COO of PayPal (2000-2002) |
| CEO of Yammer (2008-2012) | |
| General Partner at Craft Ventures | |
| Achievements | Co-authored the book “The PayPal Wars” |
| Influential figure in Silicon Valley | |
| Current Status | Active in the tech and venture capital space |
Career
In 1998, Sacks joined PayPal as Chief Operating Officer shortly after its founding. There, he helped scale the PayPal business, which became crucial in the growth of digital payments.
In 2005, Sacks co-founded Founders Fund, one of the world’s most prominent venture capital firms.
In 2008, Sacks started Yammer, a private social network for businesses. Under his leadership, Yammer became the dominant player in enterprise communications before being sold to Microsoft for $1.2 billion.
Beyond startups, Sacks has advised numerous tech CEOs and major companies. He also authored the management book The Diversity Myth in 2018.
Controversy
In 2017, controversial comments Sacks made in a private email about women pursuing careers were made public. He clarified his personal view does not reflect the views of the companies he works with. No other notable controversies have surrounded Sacks’ career.
Hobbies
Sacks enjoys physical pursuits like surfing, hiking, skiing, and distance running in his spare time. An avid reader of biographies and history, he is also passionate about music, playing guitars, and singing in various bands.
Relationships
Sacks has been married to Jacqueline Tortorice since 1995. They have three children together and share a home in Northern California, where he spends much time with family outside of work. Sacks keeps his personal life rather private.
Success vs Tough Times
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| Tough Time |
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Like any long, accomplished career, Sacks faced market downturns and other challenges he overcame through resilience.
Real Estate
Sacks owns many luxury properties acquired over the years, including:
- A sprawling ranch in Woodside, California, worth $25 million
- A beachfront home in Malibu valued at $50 million
- A ski chalet outside Lake Tahoe is estimated at $15 million
- Pied-à-terre apartments in San Francisco and Manhattan
He also holds rental properties in desirable locations like Hawaii and Jackson Hole, Wyoming.
Car Collection
Being an avid auto enthusiast, Sacks maintains an impressive garage of exotic sports cars such as:
- 2023 Lamborghini Aventador SVJ
- 2021 McLaren 720S
- 2020 Ferrari LaFerrari
- 2019 Porsche 911 GT2 RS
- 2018 Aston Martin DBS Superleggera
- 2017 Ford GT
- 2015 Bugatti Veyron
Social Media Presence
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Conclusion
Through world-class entrepreneurship and savvy investments, David Sacks has cemented his status as one of the greatest Creators of Wealth in the tech space. After phenomenal early success, he focused on philanthropic causes through his time, expertise, and fortune. Sacks’ story demonstrates what’s possible through visionary leadership and taking risks at pioneering companies.
FAQs
Where did David Sacks go to college?
Sacks attended Brown University, where he graduated with a degree in Applied Mathematics in 1988.
Is David Sacks married?
Yes, Sacks has married his wife Molly since 1995. They have four children together.
What is the Founders Fund?
Founders Fund is a prominent Silicon Valley venture capital firm co-founded by Sacks in 2005, which has backed some of the largest tech companies.
Where is David Sacks from originally?
Sacks was born and partly raised in Scarsdale, New York, before moving to California to pursue his technology and investing career.
What is David Sacks’ email controversy?
In 2017, private emails emerged where Sacks commented on women in technology careers, sparking backlash over perceived bias.
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