Chris Sacca is one of the most successful and influential venture capitalists in the world. He is the founder and chairman of Lowercase Capital, a venture capital firm that has invested in some of the most iconic technology companies of our time, such as Twitter, Uber, Instagram, Twilio, Stripe, and Kickstarter. He is also a former Google executive, a philanthropist, a political activist, and a guest shark on the popular TV show Shark Tank. But how did he achieve such a remarkable career and fortune? What are the secrets behind his investment strategy and his signature cowboy shirts? And what is his current net worth in 2023?
Early Life and Education
Chris Sacca was born on May 12, 1975, in Lockport, New York. His father was an attorney and his mother was a professor at SUNY Buffalo State. He grew up in a middle-class family with a passion for learning and exploring new things. He attended Georgetown University, where he studied foreign service and law. He also spent semesters abroad in Ecuador, Ireland, and Spain. He graduated cum laude with a B.S. in foreign service in 1997 and a J.D. in law and technology in 2000.
Stock Trading and Debt
While he was still a student, Sacca started a company with his student loans, but it failed. He then used the remaining money to trade stocks online. He discovered a loophole in the software of some online brokers that allowed him to leverage his trades for huge amounts. He turned $10-20 thousand into $12 million by 2000. However, when the dot-com bubble burst, he lost most of his money and ended up with a $4 million debt. He negotiated with his creditors to reduce it to $2.125 million and paid it off by 2005.
Google Career and Early Investments
Sacca joined Google in 2003 as a corporate development associate. He worked on various projects, such as Google Maps, Gmail, Google WiFi, and data centers. He also led many mergers and acquisitions deals for the company. He received the Founders’ Award, Google’s highest internal honor, for his contributions. During his time at Google, he also made his first angel investments in startups like Photobucket (acquired by Fox Interactive) and Twitter. He also led Google’s seed investment in Meraki (acquired by Cisco for $1.2 billion).
Lowercase Capital and Billion-Dollar Bets
Sacca left Google in 2007 to start his own venture capital firm, Lowercase Capital. He initially invested his own money and later raised funds from other investors. He focused on seed and early-stage investments in technology companies that had the potential to disrupt large markets and create positive social impact. Some of his most notable investments include:
- Twitter: Sacca invested in Twitter when it was still a small startup with less than 20 employees. He helped the company grow its user base, revenue, and valuation. He also helped recruit key executives and board members for the company. He sold most of his stake in Twitter in 2015 for over $1 billion.
- Uber: Sacca invested in Uber when it was still a private company valued at $4 billion. He believed that Uber could revolutionize the transportation industry and create millions of jobs around the world. He also helped the company expand into new markets and deal with regulatory challenges. He sold some of his stake in Uber in 2018 for over $1 billion.
- Instagram: Sacca invested in Instagram when it was still a photo-sharing app with less than 10 employees. He saw the potential of Instagram to become a dominant social media platform that could rival Facebook. He also helped the company scale its infrastructure and monetize its user base. He sold his stake in Instagram when it was acquired by Facebook for $1 billion in 2012.
- Twilio: Sacca invested in Twilio when it was still a cloud communications platform that enabled developers to build voice and messaging applications. He recognized that Twilio could empower millions of developers to create innovative solutions for various industries and use cases. He also helped the company go public in 2016 at a valuation of over $1 billion.
- Stripe: Sacca invested in Stripe when it was still a payment processing platform that enabled online businesses to accept payments from anyone anywhere. He realized that Stripe could transform the global economy by enabling more commerce across borders and currencies. He also helped the company grow its customer base, product portfolio, and valuation. Stripe is currently valued at over $95 billion.
Shark Tank Appearance and Retirement
Sacca appeared as a guest shark on ABC’s Shark Tank from 2015 to 2017. He invested in several entrepreneurs and businesses that pitched their ideas on the show, such as Hatch Baby, Rent Like A Champion, and Sworkit. He also had some memorable interactions with the other sharks, especially Mark Cuban and Kevin O’Leary. In 2017, Sacca announced that he was retiring from venture investing and from Shark Tank. He said that he wanted to focus on his family, his philanthropy, and his political activism. He also said that he was satisfied with his portfolio and did not want to chase more deals.
Net Worth and Philanthropy
According to Forbes, Sacca’s net worth as of April 2023 is $1.2 billion. He is ranked #2378 on the Forbes Billionaires List and #2 on the Forbes Midas List of Top Tech Investors. He is also known for his philanthropic efforts and social causes. He and his wife Crystal have donated millions of dollars to various charities and organizations, such as charity:water, the Anti-Recidivism Coalition, Global Citizen Year, and the Obama Foundation. They have also signed the Giving Pledge, a commitment to give away most of their wealth to charitable causes. In 2021, Sacca announced that he was returning to venture investing with a focus on climate issues. He said that he wanted to help solve the climate crisis by backing startups that could reduce greenhouse gas emissions and promote clean energy.
Conclusion
Chris Sacca is a billionaire investor who has made a fortune by backing some of the most successful and impactful technology companies of our time. He is also a former Google executive, a philanthropist, a political activist, and a Shark Tank star. He has a unique investment style and a distinctive personality that have earned him respect and admiration in the tech industry and beyond. He is an inspiration for aspiring entrepreneurs and investors who want to make a difference in the world.
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