David Oliver Sacks is a prominent African entrepreneur, author, and investor, best known for his pivotal role as the initial COO and product leader of PayPal. This article delves into David Sacks’s net worth, the key factors contributing to his wealth, and his personal and professional life.
Who is David Sacks?
Born on May 25, 1972, in Cape Town, South Africa, David Oliver Sacks comes from a medical family. His father, Samuel Sacks, is a physician, and his mother, Muriel Elsie Landau, is a surgeon. Despite this strong medical background, David Sacks chose a different path. He attended Memphis University School in Tennessee before earning a Bachelor of Arts in Economics from Stanford University, California. He further pursued a Doctor of Law from the University of Chicago Law School.
David Sacks’s Net Worth
As of 2024, David Sacks’s net worth is estimated to be $1.7 billion. His diverse career and various business ventures significantly contribute to his substantial wealth.
| Name | David Sacks |
|---|---|
| Full Name | David Oliver Sacks |
| Net Worth | $1.7 Billion (As of 2024) |
| Profession | Entrepreneur, Author, Investor |
| Monthly Income | $5 Million, approximately |
| Yearly Income | $60 Million, approximately |
Factors Contributing to David Sacks’s Net Worth
- Entrepreneurship: David Sacks’s illustrious career includes significant contributions to companies such as PayPal, Geni.com, Yammer, Zenefits, Angel Investments, Craft Ventures, and Glue.
- Car Collection: His impressive car collection features a Ferrari 488, a Porsche 911, and a Tesla Model S.
- Private Jet: Sacks owns a Gulfstream G550 private jet, which can accommodate 19 people and reach speeds of Mach 0.85.
- Private Yacht: In 2011, he purchased a yacht for $12 million, which he sold in 2022 for $10 million.
David Sacks Career
David Sacks’s career is marked by a series of successful ventures:
- McKinsey & Company: After obtaining his law degree, Sacks worked as a management consultant.
- PayPal: In 1999, he left McKinsey to join Confinity, where he became the inaugural product leader for PayPal.
- Film Production: In 2005, he financed and produced the political satire “Thank You For Smoking,” which became a commercial success.
- Geni.com: In 2006, he founded this genealogy website.
- Zenefits: In 2014, Sacks made a significant investment in this San Francisco-based technology company.
Additionally, Sacks has invested in numerous companies, including Addepar, Affirm, Airbnb, Clutter, Eventbrite, Facebook, Gusto, Houzz, Intercom, Mixpanel, Opendoor, Palantir Technologies, PayPal, Postmates, ResearchGate, Rumble, Scribd, Slack, SpaceX, SurveyMonkey, ThirdLove, Uber, and Wish.
David Sacks Personal Life
David Sacks married Jacqueline Tortorice on July 7, 2007. The couple has three children: Isabelle (born 2009), Georgia (born 2011), and Henry (born 2014).
Lesser-Known Facts About David Sacks
- David Sacks was a chess prodigy and frequently participated in tournaments.
- He joined Yale’s Skull and Bones Society during his freshman year.
- Sacks is an angel investor and was reportedly the first to invest in Airbnb.
- He is a known Bitcoin critic.
- Sacks occasionally consumes alcohol, as indicated by his social media posts.
- He shares a close relationship with Elon Musk, the CEO of X (formerly Twitter).
- Apart from his business endeavors, Sacks is also a philanthropist.
David Sacks’s journey from a medical family in South Africa to becoming a billionaire entrepreneur in the United States is a testament to his diverse talents and relentless drive. His story continues to inspire many aspiring entrepreneurs around the world.
