Paypal's ex-COO (Chief Operating Officer) David O. Sacks was linked to the failed Twitter acquisition of Elon Musk.
But, people familiar with the deal clarified that Sacks was not involved when the social media deal was proposed.
Now, why is this businessman really linked to the Tesla CEO's Twitter deal issue? Who is David O. Sacks?
Who is David O. Sacks?
History Computer reported that David. O Sacks is a venture capitalist who has been involved in multiple U.S.-based businesses, which are most successful.
(Photo : Photo by Steve Jennings/Getty Images for TechCrunch)
CEO of Zenefits David Sacks speaks onstage during TechCrunch Disrupt SF 2016 at Pier 48 on September 13, 2016 in San Francisco, California.
His name became well-known when he became Paypal's founding COO and product leader. The venture capitalist was able to establish a relationship with Peter Thiel, another Paypal co-founder.
After that, he became a Paypal Mafia member. A few years later, Sacks was able to make connections with other businessmen who would become billionaires.
However, he resigned from being a COO after eBay acquired Paypal in 2002.
Although this is the case, Paypal's ex-COO was still able to form different tech firms, such as Yammer (an enterprise social networking service) and Geni.com (an American commercial genealogy and social network website).
David O. Sacks Networth
As of press time, his main organization is Craft Ventures. Based on his Crunchbase profile, this agency is an early-stage venture fund specialized in creating companies.
Thanks to his efforts, David O. Sacks' network reached more than $150 million. But, other sources reported that his latest net worth this 2022 is around $200 million.
David O. Sacks & Musk's Twitter Deal
According to Bloomberg's recent report, the ex-Paypal COO was linked to Musk's Twitter deal. He reportedly exchanged a few emails with investment bankers.
Based on his email messages, he was interested in investing in the social media acquisition of his old friend.
On Aug. 30, Twitter served Sacks a subpoena as the social media giant wanted to acquire information from people who expressed interest in backing Elon's billion-dollar acquisition.
However, David provided more detail about his contacts in a court filing so that the subpoena would not push through. Because a legal fight in Delaware was triggered, Sacks said the leaked emails were about setting up a meeting to discuss the Twitter acquisition.
He clarified that the messages were not intended to show interest in investing in the billion-dollar deal between Musk and Twitter.
On the other hand, he also denied he was one of the only four businessmen with whom the Tesla CEO talked regarding the social media acquisition.
Although this is the case, he still admitted that Musk communicated with him, saying that Twitter only misinterpreted Elon's statements about him.
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Written by: Griffin Davis
