David Sacks is a luminary in the tech industry, renowned for his entrepreneurial prowess and influential roles in shaping the trajectory of successful ventures. Born in Cape Town, South Africa, on May 25, 1972, Sacks’ journey to becoming a key figure in the technology landscape began with his family’s move to the United States when he was five. A standout student at Memphis University School, he went on to graduate with honors in economics from Stanford University in 1994. Sacks furthered his education by earning a J.D. from the University of Chicago Law School in 1998.
A pivotal figure in PayPal’s early success, Sacks joined the company as its founding Chief Operating Officer (COO) in 1999. His contributions to PayPal’s growth and eventual acquisition by eBay marked a significant breakthrough in his career. Beyond PayPal, he co-founded Geni, a genealogy website, and Yammer, an enterprise social networking service acquired by Microsoft in 2012. Sacks’ entrepreneurial spirit extended to the creation of Craft Ventures, a notable venture capital fund, where he played a vital role in investments that included groundbreaking startups like Uber, Airbnb, and SpaceX.
David Sacks Wiki & Biography
| 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). |
| Maritral Status | Married. |
| Spouse | Jacqueline Tortorice (m. 2007). |
| Children | Two Daughters and One Son. |
| Net Worth | $1.5 Billion (Approx). |
What is David Sacks’ Net Worth?
David Sacks’ wealth is a testament to his strategic vision, astute investments, and impactful contributions to the tech industry. His net worth exceeds a remarkable $1.5 Billion. This substantial wealth is a result of his multifaceted career, from the foundational role at PayPal to successful entrepreneurial ventures and strategic investments through Craft Ventures.
Sacks’ net worth breakdown encompasses various sources. His entrepreneurial ventures, including PayPal, Geni, and Yammer, played a pivotal role. Additionally, as the co-founder of Craft Ventures, Sacks has been instrumental in shaping the success of numerous startups. Notable investments in industry giants like Uber, Airbnb, and SpaceX have further solidified his financial standing. The author of “Startupland: How Three Guys Turned an Idea into Billion-Dollar Business,” Sacks also enjoys book royalties. The diversity of his income streams highlights the breadth of his influence and success in the tech and investment spheres.
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Early Life
Born into a “comfortable middle-class” family, David Sacks began his life in Cape Town, South Africa, in 1972. His family’s relocation to Memphis, Tennessee, laid the foundation for his academic and athletic achievements at Memphis University School. Excelling in both academics and sports, Sacks transitioned to Stanford University, majoring in economics and graduating with honors in 1994. This educational journey set the stage for his future leadership roles and entrepreneurial endeavors.
Post-college, Sacks embarked on a career that showcased his versatility. From management consulting at McKinsey & Company to representing technology companies at the law firm Wilson Sonsini Goodrich & Rosati, he demonstrated a keen understanding of the evolving tech landscape. His educational background and diverse experiences set the stage for his impactful contributions to the tech industry.
Career
David Sacks’ career is a narrative of innovation, strategic leadership, and entrepreneurial success. Following roles in management consulting and law, he entered the tech world as the founding COO of PayPal in 1999. This marked the beginning of a series of groundbreaking ventures, including co-founding Geni and Yammer. Sacks’ role as the CEO of Zenefits showcased his ability to lead and innovate in the ever-changing landscape of human resources technology.
The breakthrough, however, was his tenure at PayPal. As the COO, Sacks played a pivotal role in the company’s early success and its eventual acquisition by eBay. The creation of Yammer, a successful enterprise social networking service, further solidified his status as a tech entrepreneur. His journey continued with investments through Craft Ventures, making an impact on companies that have reshaped entire industries.
Breakthrough
David Sacks’ breakthrough moment can be traced back to his role as the founding COO of PayPal. The late 1990s saw the emergence of online payment systems, and Sacks’ strategic vision and operational acumen played a crucial role in establishing PayPal as a leading player in the fintech landscape. The acquisition of X.com, founded by Elon Musk, marked a turning point, leading to the creation of PayPal and its subsequent success.
The PayPal era was characterized by rapid growth, innovation, and a transformative impact on online transactions. Sacks’ contributions during this period not only shaped the success of PayPal but also laid the groundwork for his subsequent ventures and investments. The breakthrough at PayPal set the stage for a career marked by a series of entrepreneurial successes and influential roles in the tech and venture capital domains.
Other Ventures
Beyond his notable roles at PayPal, Geni, and Yammer, David Sacks’ other ventures underscore his commitment to innovation and strategic investments. Co-founding Craft Ventures, a prominent early-stage venture capital fund, Sacks has played a key role in shaping the success of numerous startups. His investments in companies like Uber, Airbnb, and SpaceX have contributed to their transformative impact on their respective industries.
Sacks’ involvement in the creation of Code for America, a non-profit organization providing technology assistance to government agencies, reflects his commitment to leveraging technology for societal benefit. Additionally, his position on the board of directors of the Los Angeles County Museum of Art highlights his engagement in philanthropy and the arts. These ventures collectively showcase Sacks’ multifaceted approach to entrepreneurship, investments, and contributions to societal advancement.
Personal Life
David Sacks’ personal life is characterized by a commitment to family, philanthropy, and community engagement. Married to Jacqueline Tortorice, an entrepreneur and investor, the couple has three children and resides in the vibrant tech hub of San Francisco, California. While Sacks maintains a level of privacy around his personal life, his commitment to family is evident in the stability of his long-term relationship.
Outside of his family life, Sacks is a passionate advocate for education and philanthropy. His co-founding of Code for America, a non-profit organization focused on utilizing technology for civic improvement, demonstrates his dedication to leveraging his expertise for societal impact. Serving on the board of directors of the Los Angeles County Museum of Art further highlights his commitment to the arts and cultural development.
Philanthropy and Community Involvement
David Sacks’ philanthropy extends beyond his professional pursuits, showcasing a commitment to societal advancement and community well-being. As a co-founder of Code for America, he has played a pivotal role in leveraging technology to address civic challenges. The organization’s mission to provide technology assistance to government agencies aligns with Sacks’ vision of using innovation for positive societal impact.
In addition to his role at Code for America, Sacks serves on the board of directors of the Los Angeles County Museum of Art. This involvement reflects a dedication to the arts and cultural enrichment. Sacks’ philanthropic endeavors underscore his belief in the transformative power of technology and culture in shaping a better future for communities and society as a whole.
Career Highlights
David Sacks’ career highlights are marked by strategic leadership, entrepreneurial success, and impactful contributions to the tech and business sectors. Here’s a chronological overview:
- 1999-2002: PayPal COO
- Played a key role in the founding and early success of PayPal.
- Contributed to the company’s growth and eventual acquisition by eBay.
- 2006: Co-founder of Geni
- Co-founded Geni, a genealogy website.
- 2008: Co-founder of Yammer
- Co-founded Yammer, an enterprise social networking service acquired by Microsoft in 2012.
- 2013-2016: Zenefits CEO
- Served as the CEO of Zenefits, a cloud-based human resources software company.
- Craft Ventures
- Co-founded Craft Ventures, an early-stage venture capital fund.
- Invested in successful startups, including Uber, Airbnb, and Reddit.
David Sacks Net Worth
David Sacks’ net worth is a reflection of his entrepreneurial acumen, strategic investments, and influential roles in the tech industry. His net worth exceeds $1.5 Billion. This substantial wealth is derived from various sources:
- Entrepreneurial Ventures: Founding roles at PayPal, Geni, and Yammer.
- Venture Capital Success: Investments through Craft Ventures in companies like Uber, Airbnb, and Reddit.
- Book Royalties: Author of “Startupland: How Three Guys Turned an Idea into Billion-Dollar Business.”
Sacks’ net worth underscores his success in navigating the dynamic landscape of technology, entrepreneurship, and venture capital.
Conclusion
David Sacks stands as a remarkable figure whose impact resonates across the tech and business sectors. From his pivotal role in the early success of PayPal to co-founding ventures like Geni and Yammer, Sacks has consistently demonstrated entrepreneurial excellence. His strategic investments through Craft Ventures have further solidified his influence in shaping the trajectory of innovative startups.
Beyond the professional sphere, Sacks’ commitment to philanthropy, exemplified by his role at Code for America and the Los Angeles County Museum of Art, reflects a holistic approach to societal advancement. His personal life, marked by a lasting marriage and a dedication to family, adds a human touch to his illustrious career. With a net worth exceeding $1.5 Billion, David Sacks continues to be a driving force in the tech industry, leaving an indelible mark on innovation, entrepreneurship, and positive societal impact.
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