Early Years
In the early years of PayPal, David Sacks was one of the company’s most important investors. During the course of his career, he made a fortune as an early investor in companies such as Facebook, LinkedIn, and Yammer, among others. Today, his net worth is estimated to be around $2.1 billion. Here’s a look at how the tech investor made his fortune.
When he was just a teenager, Sacks moved from South Africa to the United States and started his career in the business world. In addition to studying economics and computer science, he attended Stanford University to complete his education. In the years following his graduation, he went to work for a consulting firm as a consultant. His later career led him to become an entrepreneur and he started several businesses in the process.
PayPal
A co-founder of PayPal with Peter Thiel and Max Levchin, Sacks founded the company in 2002. His role as the company’s COO continued until the company was acquired by eBay in 2002 for a price of $1.5 billion. PayPal was Sacks’ first investment in the company, and he made a lot of money from it.
In the years following PayPal, Sacks went on to invest in a number of other tech companies. In the early days of LinkedIn and Yammer, he was an investor. Also, he served as the company’s first chief operating officer for a period of time when he invested in Facebook.
In addition, he is also a co-founder of the venture capital firm Craft Ventures. The firm has invested in companies like Uber, Airbnb, and Slack.
Today, Sacks is worth an estimated $2.1 billion. He continues to invest in tech companies and is one of the most successful tech investors in the world.
