David Sacks, a undertaking capitalist and member of the so-termed “PayPal Mafia,” is linked to the sale of a Venetian Islands household for $22.5 million.
Records show 100 West San Marino Push LLC, a Florida entity tied to Sacks’ San Francisco-based Craft Ventures, bought the house at 100 West San Marino Generate to Hela Houses, a company managed by Bulgarian fintech entrepreneur Christo Georgiev.
Dina Goldentayer of Douglas Elliman had the listing and declined to comment on the deal. Cris Soares of Brown Harris Stevens represented the buyer, and declined to comment on the buyer’s id.
“They prepare on residing there,” he explained, noting the house’s downtown sights had been a significant draw for the consumer.
Sacks purchased the waterfront Venetian Islands dwelling for $17.1 million in 2021, records demonstrate. Designed in 2020, it spans 5,200 sq. ft, with 5 bedrooms and 7 loos. The quarter-acre property has a pool and a dock. He detailed it for $22.9 million in October, Redfin reveals.
Sacks joined PayPal in 1999 as the company’s initial COO. When eBay acquired the on line payments system for $1.5 billion in 2002, it birthed the “PayPal Mafia” –– a group of founders and early workforce with newly minted fortunes and ambitions to explore the new tech frontier. Other outstanding “PayPal Mafia” members consist of Peter Thiel, Elon Musk, Reid Hoffman, Keith Rabois, Chad Hurley, Steve Chen and Jawed Karim. They went on to make YouTube, LinkedIn, Palantir, Tesla, and Square, amid other ventures. Thiel and Rabois very own houses on the Venetian Islands.
Sacks established the genealogy website Geni.com, then Yammer, an early interior corporate interaction assistance. Microsoft purchased it for $1.2 billion in 2012, in accordance to printed reviews. He released Craft Ventures in 2017, which has invested in companies like Reddit, Slack, Uber and Lyft.
Whilst Miami is continue to coming to terms with its maybe dashed visions of becoming the “Silicon Valley of the South,” a lot of of the tech industry’s greatest names have bought residences in the location in the latest several years. PayPal founder Thiel bought a pair of Venetian Islands homes for $18 million in 2020. Rabois bought a waterfront Venetian Islands mansion for $28.9 million that exact yr. Jim Goetz, a legendary enterprise capitalist in Silicon Valley for his early bid on WhatsApp, dropped a blended $29.6 million on two adjacent Venetian Islands residences in 2017 and 2019.
A lot more lately, billionaire Jeff Bezos acquired two Indian Creek Village estates for $147 million in the fall.
