David Sacks Net Worth In 2024 Is Around $1.5 Billion
& Age is 52 Years
In our modern world, technology is everywhere, playing a key role in cutting down energy waste and enhancing efficiency. While technology offers many advantages, it also comes with its share of challenges. If you’re familiar with the tech industry, you may have heard of David Sacks, a well-known figure in the realms of technology, entrepreneurship, and investing. With a solid reputation in these areas, David Sacks has built significant wealth over his career, with an estimated net worth of $1.5 billion, earning him the status of a billionaire.
Biography
| Full Name: | David Oliver Sacks |
| Nickname: | David Sacks |
| Net Worth: | $1.5 Billion |
| Height: | 6’1” (185cm) |
| Profession: | Tech Entrepreneur |
| Date Of Birth: | May 25, 1972 |
| Birth Place: | Cape Town, South Africa |
| Parents: | (Not publicly available) |
| Age: | 52 Years |
| Spouse: | Jacqueline Tortorice |
| Kids: | 3(including 2 daughter and one son) |
| Nationality: | American & South African |
David Sacks Wiki
David Sacks has a proven track record of success in emerging businesses and investments. Born on May 25, 1972, in Cape Town, South Africa, he comes from a lineage of entrepreneurs, with both his father and grandfather achieving success in business. His family later moved to Tennessee, USA, where David attended Memphis University School. He went on to earn a Bachelor’s degree in Economics from Stanford University in 1994. In 1998, he furthered his education by obtaining a JD (Doctor of Jurisprudence) from the University of Chicago Law School.
Both of David Sacks’ parents are South African and of Black ethnicity, though their names have remained private and are not publicly available. His drive to enter the business world was deeply influenced by his family background, especially his grandfather’s candy factory business, which was founded in 1920 and served as a significant source of inspiration for him.
David Sacks Net Worth
David Sacks has amassed considerable wealth as a tech entrepreneur and angel investor, focusing on early-stage startups. His relentless work ethic and strategic mindset have propelled him to billionaire status, with an estimated net worth of $1.5 billion. Sacks was an early investor in notable companies like Tesla, SpaceX, and Airbnb, and has even inspired others to invest in these ventures, including well-known figures like Brandon Fugal. You can explore Brandon Fugal’s net worth as well. Sacks’ wealth largely stems from his involvement with companies like PayPal, Geni.com, Yammer, Zenefits, as well as his work in angel investing and Craft Ventures.
Sack’s Net Worth in Differnt Years
- In 2018, his net worth was around $200 Million.
- In 2019, his net worth was around $303 Million.
- In 2020, his net worth was around $550 Million.
- In 2021, his net worth was around $750 Million.
- In 2022, his net worth was around $930 Million.
- In 2023, his net worth was around $1.1 Billion.
- In 2024, his net worth is around $1.5 Billion.
David Sucks Age & Height
- Age: David Sacks was born on May 25, 1972, making him 52 years old as of 2024.
- Height: David Sacks’s exact height isn’t widely documented, but estimates suggest he is around 5 feet 9 inches (175 cm) tall.
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Family
Although David Sacks hails from South Africa, details about his parents remain largely absent from social media. The family relocated to the United States when David was just 5 years old.
David Sacks Wife
David Sacks married Jacqueline Tortorice on July 7, 2007. The couple enjoys a happy life with their three children—one son and two daughters. They currently reside in Tennessee, United States.
Career
Throughout his career, David Sacks has revolutionized several industries as both an entrepreneur and investor. With deep experience in the technology sector, he has collaborated with some of the most prominent figures in the industry. Here are some of the key industries he has impacted:
PayPal:
In 1999, David O. Sacks joined PayPal after leaving his previous position. As the COO and product leader at PayPal, Sacks played a pivotal role in the company’s growth. Under his leadership, PayPal’s payment volume skyrocketed from zero to $3.5 billion, with annual revenue reaching $100 million. His strategic approach to design, payment gateways, customer service, and marketing were key factors in this success. Sacks’ contributions were instrumental in PayPal’s eventual sale to eBay for $1.5 billion in October 2022, marking a significant milestone in the tech industry.
Thank You For Smoking:
Following his success with PayPal, David Sacks ventured into film production, financing the movie Thank You For Smoking, which was released in 2005. His involvement in the film led to its critical acclaim, earning awards for Best Picture and Best Actor in a Comedy at the 2007 Golden Globes.
Daliland:
Building on his previous successes and thorough research, David Sacks produced another drama film, released on June 9, 2023. The film garnered a significant fan following and received rave reviews, further demonstrating David’s talent and success in filmmaking.
Geni:
Geni, a SaaS (Software as a Service) product, was founded by David Sacks in 2006. This genealogy website was created to help distant family members stay connected by allowing them to collaboratively build an interactive family tree online. Today, Geni is owned by MyHeritage.
Yammer:
David Sacks founded Yammer in 2008 as a SaaS product to enhance communication and collaboration within businesses. The platform offers a private and secure space for employees to collaborate, share information, and engage in discussions. In 2012, Yammer was acquired by Microsoft for $1.2 billion.
Zenefits:
Zenefits, a company offering human resources software and services to businesses, received an investment from David Sacks in December 2014. After the company faced challenges and a regulatory crisis in 2016, Sacks stepped in as interim CEO (Temporary Chief Executive Officer) to help stabilize and recover the company.
Strategic Investment
- PayPal
- Benefits
- SpaceX
- Uber
- Third Love
- Addepar
- Airbnb and many more.
Craft Ventures:
Craft Ventures is another successful venture led by David Sacks, serving as an investment firm that supports and funds startup companies to foster their growth. By 2021, Craft Ventures’ assets were valued at $2 billion.
All-In Podcast:
David Sacks is also known for creating the All-In podcast on YouTube, where he collaborates with friends Jason Calacanis, David Friedberg, and Chamath Palihapitiya. The podcast features interviews with various entrepreneurs, technologists, and investors, offering insights into economic trends, technological advancements, and political issues.
Luxuries:
David Sacks currently resides in a luxury mansion in Tennessee, US. His impressive car collection includes a Tesla Model X, Porsche 911, Ferrari 488, and other high-end vehicles. He also previously owned a $70 million yacht.
Motivational Quotes
- “If you’re not embarrassed by the first version of your product, you’ve launched too late.”
- “You need to build a team that complements each other and covers all aspects of the business.”
- “The next big thing will be a company that makes it easier to create new companies.”
- “In Silicon Valley, the great companies are all fundamentally mission-driven. The best people want to work on a mission that matters.”
- “If you’re not making some big bets, you’re just not going to have big returns.”
Fun Facts
- David Sacks is one of the original members of the “PayPal Mafia,” a group of PayPal alumni who went on to found or lead other successful tech companies like Tesla, LinkedIn, and YouTube.
- Sacks produced the satirical comedy film Thank You for Smoking (2005), which was based on the novel by Christopher Buckley. The movie was a critical success and showcased Sacks’s ability to cross over into the entertainment industry.
- After leaving PayPal, Sacks founded Yammer in 2008, an enterprise social network. Microsoft acquired Yammer in 2012 for $1.2 billion, making it one of the most significant enterprise tech deals at the time.
- David Sacks was an early investor in Facebook, recognizing the potential of social networks well before they became mainstream. His investment proved to be highly lucrative.
- Sacks is known to be a connoisseur of fine wines. He has a substantial collection and is known to enjoy discussing and sharing his knowledge of wine with friends and colleagues.
- Before diving into the world of tech and entrepreneurship, Sacks studied philosophy at Stanford University, which has influenced his approach to business and leadership.
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Conclusion
David Sacks, a key player in the tech sector, has left a notable mark through his involvement in startups and venture investments. He has held influential positions at companies like PayPal and went on to establish successful enterprises such as Yammer. His investment portfolio includes notable names like Uber and Airbnb. With an estimated net worth of $1.5 billion, Sacks has built a reputation for entrepreneurship, innovation, and strategic investing.