What is David Sacks’ net worth in 2023? + Biography & Career

What is David Sacks’ net worth?

Highlights

PayPal’s first COO
co-founded Craft Ventures and founded the purchased websites Geni.com and Yammer.

co-hosts the All-In podcast
The estimated net worth of David O. Sacks is $200 million. He is an investor and tech entrepreneur. Currently serving as general partner and co-founder of Craft Ventures, a venture capital fund that has funded SaaS startups like ClickUp, OpenPhone, and Sourcegraph in their early stages, he was previously the COO of PayPal. He co-hosts the podcast “All-In,” which covers politics, entrepreneurship, VC, tech, and the economy.

Early Life

Oliver is David Sacks’ middle name. He was born in Cape Town, South Africa, on May 25, 1972. His family moved to Tennessee, USA, when he was a little child. He graduated from Stanford University’s School of Economics and the University of Chicago Law School with a doctorate in law.

Career

PayPal

Sacks began his career with McKinsey & Company as a management consultant. As the first COO of PayPal, he joined Peter Thiel’s team in 1999. He initially got to know Elon Musk at PayPal. Since then, the two have stayed close friends. Both of them represent the well-known “PayPal Mafia.”

Overseeing the creation and growth of crucial divisions including Sales & Marketing, Customer Service, and Human Resources, Sacks proved to be a tremendous value to PayPal. In just three years, he contributed to the company’s yearly sales rising to over $200 million! In 2002, eBay paid $1.5 billion to acquire it.

Yammer

Because his grandpa had a candy factory, Sacks has always been drawn to entrepreneurship. He introduced Yammer in 2008, which was essentially Slack prior to Slack. It grew to become one of the SaaS products with the quickest growth rate in history and was ranked #1 in TechCrunch’s TechCrunch50. It was purchased by Microsoft in 2012 for $1.2 billion. From founding to exit, it was the fastest billion-dollar SaaS exit ever, and it remains so to this day. In 2006, he also founded Geni.com, which MyHeritage purchased in 2012.

Zenefits

At a critical juncture in 2014, Sacks’s ability to turn things around prevented Zenefits from going bankrupt when he was appointed interim CEO. During his tenure, he launched Z2, an HR SaaS platform, and assisted in stabilizing the business. PC Magazine will later name this application as one of the top HR software offerings available.

Craft Ventures

In 2017, Sacks co-founded Craft Ventures. Currently managing assets close to $2 billion, the venture capital firm mostly makes investments in SaaS firms. Sacks has a passion for funding SaaS firms in their infancy. In addition, he invests in cryptocurrencies and was among the first to purchase the Solana coin.

Podcasting and social media

Callin is Sacks’s subsequent endeavor. This app is referred to be “social podcasting” since it blends social media with podcasting—imagine a live podcast with a Clubhouse vibe.

He uses social media rather frequently as well. He is active on Twitter, where he frequently offers advice and insights on business.

Along with his buddies, he co-hosts the “All-In” podcast, where they discuss politics, startups, technology, the economy, and venture capital. With about 100,000 monthly listeners and more than 300,000 subscribers, the podcast is growing in popularity.

Personal life

David Sacks, his spouse Jacqueline Tortorice, an entrepreneur, and their three children reside in San Francisco.