David Oliver Sacks is an entrepreneur, author, and investor in internet technology firms with an estimated net worth of $1.7 billion. As PayPal’s Chief Operating Officer (COO), Sacks oversaw 700 employees and played a pivotal role in building the company’s key teams.
Sacks didn’t stop there. He founded and served as the CEO of Yammer, a business-oriented social networking platform. In 2016, Sacks stepped in as the interim CEO of Zenefits, a cloud-based human resources software company.
Sacks co-founded Craft Ventures in late 2017, where he currently serves as a general partner. David Sacks also do some big investments in big tech companies like Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb.
David Sacks Wikipedia & Biography
Here is the David Sacks biography overview:
| Attribute | Detail |
|---|---|
| Full Name | David Oliver Sacks |
| Nick Name | David Sacks |
| Net Worth | $1.7 Billion |
| Gender | Male |
| Country | America |
| Nationality | USA |
| Date of Birth | February 12, 1972 |
| Age | 52 years old |
| Height | 5 Feet 8 Inches |
| Weight | 68 Kg |
| Birthplace | Cape Town, South Africa |
| Martial Status | Married |
| Wife | Jacqueline Tortorice |
| Profession | Entrepreneur, Author & Tech Investor |
| Religion | Christianity |
| Children | (3) Two Daughters & A Son. |
| Daughter | Isabelle & Georgia |
| Son | Henry |
| Zodiac Sign | Gemini |
| Eye Colour | Black |
| Hair Colour | Black |
David Sacks Early Life
David Oliver Sacks was born on May 25, 1972, in Cape Town, South Africa. His family later relocated to Tennessee, USA, when he was five years old. Growing up, Sacks was exposed to diverse experiences and opportunities that would later shape his career and entrepreneurial journey.
Although he didn’t initially know he wanted to be an entrepreneur, he drew inspiration from his grandfather, who had started a candy factory in the 1920s
David Sacks Education
Sacks attended the Memphis University School in Memphis, Tennessee, during his early education. MUS provided him with a solid academic background and prepared him for higher studies. Sacks pursued his undergraduate studies at Stanford University.
He earned a Bachelor of Arts (B.A.) degree in economics during the 1990s. Stanford’s vibrant tech community and innovative environment likely influenced his future career choices.
Sacks continued his education by obtaining a Juris Doctor (J.D.) degree from the University of Chicago Law School in 1998. Interestingly, despite his legal education, he never practiced law professionally.
David Sacks Career & Source Of Income
It is a common question how David Sacks made money or how David Sacks built his net worth. David Sacks has several sources of income that contribute to his impressive net worth, estimated to be around $1.7 Billion. Here are the primary sources of income and career journey:
PayPal
In 1999, Sacks left his job as a management consultant at McKinsey & Company to join Confinity, an e-commerce startup co-founded by Max Levchin, Peter Thiel, and Luke Nosek. He became the inaugural product leader of Confinity’s milestone product, which later evolved into PayPal.
As PayPal’s Chief Operating Officer (COO), Sacks oversaw 700 employees and played a pivotal role in building the company’s key teams. His responsibilities spanned product management, design, sales, marketing, business development, international operations, customer service, fraud prevention, and human resources.
PayPal Mafia
After PayPal’s successful IPO in February 2002 (one of the first IPOs post-9/11), eBay acquired PayPal for $1.5 billion in October 2002. Sacks is part of the renowned “PayPal Mafia,” a group of founders and early employees who went on to create several other successful technology companies.
Their influence is often credited with inspiring Web 2.0 and the resurgence of consumer-focused internet companies after the dot-com bust of 2001.
Yammer
Sacks didn’t stop there. He founded and served as the CEO of Yammer, a business-oriented social networking platform. Yammer gained prominence as an enterprise communication tool and was eventually acquired by Microsoft in 2012.
Zenefits
In 2016, Sacks stepped in as the interim CEO of Zenefits, a cloud-based human resources software company. His leadership during this period was crucial for the company’s stability and growth.
Craft Ventures
Sacks co-founded Craft Ventures in late 2017, where he currently serves as a general partner. Craft Ventures is an early-stage venture capital fund that has funded promising SaaS startups, including ClickUp, OpenPhone, and Sourcegraph.
Other Investments
Beyond his operational roles, Sacks has made strategic angel investments in several tech giants, including Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb.
Read also about these famous Entrepreneurs:
David Sacks Earnings & Salaries
| Year | Net Worth |
|---|---|
| David Sacks’s Net Worth 2024 | $1.7 Billion |
| David Sacks Net Worth 2023 | $1.5 Billion |
| David Sacks Net Worth 2022 | $350 Million |
| David Sacks’s Net Worth 2021 | $250 Million |
| David Sacks’s Net Worth 2020 | $100 Million |
| David Sacks’s Net Worth 2019 | $25 Million |
David Sacks Personal Life & Family
David Sacks is married to Jacqueline Tortorice, a businesswoman and the founder of Saint Haven, a soft and skin-friendly fabric company. The couple tied the knot on July 7, 2007. They have three children:
- Two Daughters: Chloe And Kelly
- One son: Andrew
David Sacks Assets & Lifestyle
As of 2024, David Sacks’s estimated net worth is $1.7 billion. His wealth stems from successful ventures, including PayPal, Yammer, and other investments. In late 2017, Sacks co-founded Craft Ventures, a venture capital fund. His angel investments include Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb.
Car Collection
David Sacks owns an enviable car collection, which includes:
- Ferrari 488
- Porsche 911
- Tesla Model S
While there may be more cars in his collection, these are the ones publicly known.
Private Jet
Sacks reportedly owns a Gulfstream G550 private jet, which can accommodate up to 19 people and reach speeds of Mach 0.85. However, the environmental impact of private jets must be considered. In 2022, his private aircraft emitted 866.20 metric tons of carbon dioxide.
Yacht
In 2011, David Sacks purchased a yacht for $12 million. However, he later sold it for $10 million in 2022.
David Sacks Awards
Emmy Awards
David Sacks won an Emmy Award for his work on the iconic animated TV show The Simpsons. Created by Matt Groening, the show has been a beloved part of pop culture since its inception.
In 1995, Sacks received the Emmy for Outstanding Animated Program (for Programming One Hour or Less) for his contributions to “The Simpsons” episode.
Golden Globe Award
Beyond the Emmys, Sacks also earned a Golden Globe Award for his role in the hit sitcom 3rd Rock from the Sun. The show aired from 1996 to 2001 and featured a quirky group of extraterrestrial beings trying to adapt to life on Earth.
Other Achievements
Sacks has a diverse background. He contributed to PayPal’s success as its Chief Operating Officer and Product Leader during its early days. Additionally, he produced the award-winning independent movie “Thank You For Smoking.”
David Sacks Social Media Accounts
- David Sacks Twitter
- David Sacks All in Podcast
FAQs
David Sacks’s net worth is around $1.7 billion.
David Oliver Sacks is an entrepreneur, author, and investor in internet technology firms.
David Sacks married Jacqueline Tortorice.
David Sacks lives in San Francisco with his family.
He is 52 years old and was born on May 25, 1972, in Cape Town, South Africa.
Conclusion
In addition to his financial achievement, David Sacks’s net worth of $1.7 billion demonstrates his strategic thinking, resourcefulness, and fortitude. David has significantly impacted the technology sector from the beginning of PayPal to his current undertakings.
From his experience, aspiring entrepreneurs and investors can gain valuable insights into the necessity of vision, adaptability, and a risk-taking mindset for success.
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