David Sacks Net Worth: How Wealthy Is the PayPal Co-Founder?
David Oliver Sacks is a South African-American entrepreneur, investor, author, and socio-political persona. His fame started when he co-founded PayPal. After that success, he co-founded Craft Venture, Yammer, and Geni.com. He also invested in multiple technology start-ups, which together built his wealth. However, he has never revealed his total finances, which has led to David Sacks net worth estimation ranging anywhere between $250 million – $2 billion.
Furthermore, Sacks is the host of the ‘All In‘ podcast and has a popular X account. He produced movies and wrote two books too.
Profile Summary
The following table describes the details of David Oliver Sacks’ life:
| Attributes | Details |
| Full Real Name | David Oliver Sacks |
| Gender | Male |
| Date of Birth | May 25, 1972 |
| Age | 52 |
| Zodiac Sign | Gemini |
| Place of Birth | Cape Town, South Africa |
| Nationality | South African-American |
| Marital Status | Married |
| Spouse | Jacqueline Tortorice |
| Children | 3 |
| University | Memphis University School, Stanford University, University of Chicago Law School |
| Profession | Entrepreneur, Investor, Author, Podcaster, Producer |
| Net Worth | $200 million – $ 2 billion |
| X | @DavidSacks |
Early Life
David Oliver Sacks was born on May 25, 1972, in Cape Town, South Africa. Five years later, his Jewish family immigrated to the USA. His family resided in Tennessee.
Despite his father promising employment, Sacks did not wish to work in a similar position. He was an endocrinologist. Instead, his inspiration was his entrepreneurial grandfather.
Education
Sacks began his tertiary education in Memphis University School, in the same state where his family lived. He later received a Bachelor in Economics from Stanford University in 1994. This is a Californian university that focuses on research. Then, he received a Juris Doctor degree from University of Chicago Law School.
Early Career
After receiving his Juris Doctor, McKinsey & Company employed Sacks as a management consultant. He remained in this company for a year before joining the start-up Confinity as a product leader. Confinity was originally a security software but failed. So, Sacks and other management members pivoted the company into an email money business: PayPal.
Co-Founding Paypal
Sacks co-founded Paypal, earning him a membership in the ‘PayPal Mafia’, the group of early investors in the company. After the transition from Confinity, Sacks became the chief operating officer and product leader of PayPal. When the company went public, its stock rose by over 54% within a day, building on David Sacks net worth.
Other Ventures
Sacks increased his wealth through a variety of ventures in technology companies. In 2006, he founded the genealogy website geni.com, which MyHeritage bought in 2012. Sacks was the chief executive officer of both Yammer (2008) and Zenefits (2014) too. In 2017, he co-founded the early-stage investment Craft Venture company.
Notable Angel Investments
Although Sacks does not reveal all of his investments, he has acted as an angel investor in multiple, well-known technology companies. Most notably, he was an angel investor in Facebook, Uber, SpaceX, and ResearchGate. However, it is unclear if he remains an investor in all of these technology companies. Similarly, the extent of his investment in these companies is unclear.
‘All In’ Podcast
Sacks is one of four ‘besties’ co-hosts on the ‘All In’ podcast. During the 1 – 2 hours episode, he and Chamath Palihapitiya, Jason Calacanis, and David Friedberg discuss politics and technology. This podcast has over 100,000 monthly listeners. They have grown this audience over the past 175 episodes they have released.
Political Influence
In 1995, Sacks authored a book on politics with Peter Thiel. ‘The Diversity Myth: Multiculturalism and the Politics of Intolerance at Stanford‘ criticizes political correctness. More specifically, it examines how this political concept has affected higher education. In addition, it advocates for more diversity of thought in tertiary education.
Furthermore, he donates to conservative party members. In 2022, his donations reached over $1 million.
Film Production
Sacks produced and financed ‘Thank You for Smoking‘. Its first showing was at the Toronto International Film Festival. This 2005 film received two Golden Globes nominations. Twentieth Century Fox acquired the film and released it in theaters in 2006. Along with the profits he made from ‘Dalíland‘, his producing earnings contributed to David Sacks net worth.
Personal Details
Sacks married Jacqueline Tortorice. They live a private life with their two daughters and one son. Her wife managed their family’s assets, including philanthropic donations. She founded Saint Haven. This is an ultra-soft clothing line created for customers with sensitive skin.
Popular Quotes from David Oliver Sacks
- “After PayPal, I never thought I would get interested in payments again. But bitcoin is fulfilling PayPal’s original vision to create ‘the new world currency.'”
- “Money is being made programmable. That’s a fundamental change with implications we can still barely see.”
- “The purpose of brand marketing for all SaaS companies, therefore, is the same: to establish category leadership.”
- “There is some risk that if the wrong regulatory regime gets adopted in the U.S., then the center of innovation could move to other countries. If blockchains are the next Internet, that would be a very unfortunate development for the U.S.”
Disclaimer: The net worth figures and related details provided here are based on publicly available sources. These numbers are approximate and may not reflect the most current financial information, as values can change over time.
