David Sacks Net Worth 2024, Bio, Early Life, Family & More
Quick Overview
| 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 Net Worth | $250 million |
David Sacks net worth is $300 million
David O. Sacks is a prominent figure in the tech industry, known for his entrepreneurial spirit, strategic investments, and influential role in some of Silicon Valley’s most significant companies. We explores David Sacks net worth, professional journey, contributions to PayPal, and personal life, including his relationship with his wife, Jacqueline Tortorice.
Early Life and Education
Childhood and Background
David Oliver Sacks was born on May 25, 1972, in Cape Town, South Africa. His family moved to the United States when he was just five years old. Growing up in Memphis, Tennessee, Sacks exhibited an early interest in technology and entrepreneurship, which would later shape his career.
Academic Pursuits
David attended Stanford University, where he earned a Bachelor of Arts in Economics. His time at Stanford was instrumental in developing his analytical skills and understanding of economic principles. Sacks later attended the University of Chicago Law School, where he received his Juris Doctor degree. Although he started his career in law, his passion for technology soon led him to Silicon Valley.
Early Career and PayPal
Transition to Technology
After completing his law degree, Sacks worked as a management consultant at McKinsey & Company. However, his interest in the burgeoning tech industry led him to Silicon Valley, where he joined the startup Confinity, which later became PayPal.
Contributions to PayPal
He played a crucial role in the development and success of PayPal. As the company’s Chief Operating Officer (COO), he was responsible for many of its key operations and strategies. His leadership was pivotal during PayPal’s formative years, helping the company navigate the challenges of the dot-com bubble and eventually secure its place as a leading online payment platform.
PayPal Mafia and Subsequent Ventures
The PayPal Mafia
Sacks is part of the so-called “PayPal Mafia,” a group of former PayPal executives and employees who have gone on to found or invest in numerous successful tech companies. This group includes notable figures such as Elon Musk, Peter Thiel, and Reid Hoffman. The PayPal Mafia has significantly impacted Silicon Valley, fostering innovation and entrepreneurship across various sectors.
Founding Yammer
After leaving PayPal, David Sacks founded Geni.com, a genealogy website. However, his most notable post-PayPal venture was Yammer, an enterprise social network designed to improve communication and collaboration within organizations. Sacks served as CEO of Yammer, which quickly gained traction and was acquired by Microsoft in 2012 for $1.2 billion. This acquisition was a significant milestone in Sacks’ career, highlighting his ability to create and scale successful companies.
David Sacks Net Worth
Sources of Wealth
David Sacks net worth is derived from his various entrepreneurial ventures, investments, and acquisitions. As of 2023, his net worth is estimated to be around $250 million. This substantial wealth reflects his success in building and investing in tech companies.
Key Investments
His own ventures, Sacks has made several strategic investments in other tech startups. He is a founding partner of Craft Ventures, a venture capital firm that has invested in companies such as Slack, Bird, and SpaceX. These investments have significantly contributed to David Sacks net worth and influence in the tech industry.
Jacqueline Tortorice: David Sacks’ Wife
Personal Life and Marriage
David Sacks is married to Jacqueline Tortorice, a former attorney. The couple has maintained a relatively private personal life, focusing on their family and professional endeavors. Jacqueline’s background in law complements David’s entrepreneurial pursuits, providing a strong foundation for their partnership.
Family Life
David and Jacqueline have three children together. Despite their busy professional lives, they prioritize their family and maintain a close-knit household. The Sacks family is known for their philanthropic efforts, supporting various charitable causes and initiatives.
Philanthropy and Community Involvement
Charitable Contributions
David and Jacqueline Sacks are active philanthropists, supporting numerous causes and organizations. Their contributions span education, healthcare, and community development. They believe in using their resources to make a positive impact on society and encourage others to do the same.
Community Engagement
Financial contributions, the Sacks family is involved in various community initiatives. They support local programs and events that promote education, innovation, and social welfare. Their commitment to giving back underscores their dedication to creating a better world for future generations.
Recent Ventures and Future Plans
Craft Ventures
He continues to be an influential figure in the tech industry through his work with Craft Ventures. The firm focuses on early-stage and growth-stage investments, supporting innovative startups that have the potential to disrupt traditional industries. Sacks’ experience and insight are invaluable assets to the companies in which Craft Ventures invests.
Political and Social Commentary
In recent years, David Sacks has also become known for his political and social commentary. He is an active participant in discussions about technology, entrepreneurship, and public policy, often sharing his views through social media and public speaking engagements. Sacks’ opinions are widely respected, and he is considered a thought leader in the tech community.
The Legacy of David O. Sacks
Impact on Technology
He contributions to the tech industry are significant and far-reaching. From his early days at PayPal to his successful ventures and investments, Sacks has consistently demonstrated his ability to identify and capitalize on opportunities. His work has not only created value for shareholders but also driven innovation and progress within the industry.
Inspiring the Next Generation
As a member of the PayPal Mafia, David Sacks serves as an inspiration to aspiring entrepreneurs. His journey illustrates the importance of perseverance, vision, and strategic thinking in achieving success. Sacks’ willingness to take risks and pursue his passions encourages others to follow in his footsteps and pursue their entrepreneurial dreams.
Conclusion
David O. Sacks is a multifaceted entrepreneur whose impact on the tech industry is undeniable. With a net worth of approximately $300 million, he has achieved remarkable success through his ventures, investments, and strategic leadership. His contributions to PayPal, Yammer, and Craft Ventures highlight his ability to innovate and drive growth in the tech sector.
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