Tim Draper Net Worth

Tim Draper: The Visionary Investor

Tim Draper, an American venture capital investor, has made a lasting impact on the business world through his remarkable career and innovative investments. With a net worth of $600 million, Draper is the founder of the highly successful venture capital firm, Draper Fisher Jurvetson. His entrepreneurial spirit and ability to identify groundbreaking opportunities have allowed him to rise to the top of the investment industry.

What is Tim Draper known for?

One of Tim Draper’s most notable investments was in bitcoin. In 2014, he made headlines when he purchased 30,000 bitcoins for just $19 million from the seized assets of Silk Road’s operator, Ross Ulbricht. This bold move proved incredibly lucrative, as the value of those bitcoins skyrocketed, reaching nearly $2 billion at its peak. Draper’s success in the crypto market solidified his reputation as a savvy investor.

Draper’s influence extends beyond the world of finance. In 2014, he filed a petition to divide California into six smaller states, citing the increasing ungovernability of the state as one entity. While this initiative faced criticism concerning its political motivations, Draper’s vision highlighted his desire for innovative solutions to complex problems.

Early life and education

Tim Draper was born on June 11, 1958, in California. Coming from a family with a strong entrepreneurial background, Draper followed in his family’s footsteps and pursued a career in venture capitalism. His father, William Henry Draper III, founded the renowned Draper & Johnson Investment Company, while his grandfather, William Henry Draper Jr., established Draper, Gaither and Anderson.

Draper’s education played a crucial role in shaping his future success. He attended Phillips Academy Andover and later enrolled at Stanford University, where he obtained a bachelor’s degree in electrical engineering in 198. Looking to further broaden his knowledge and skillset, Draper pursued an MBA from Harvard Business School, completing his studies in 1984.

Career

Tim Draper’s career began at the investment bank, Alex Brown & Sons. However, his entrepreneurial spirit soon led him to establish his own venture capital firm in 1985. He was joined by John Fisher, a former colleague, and together they formed Draper Fisher Jurvetson (DFJ). The firm gained recognition for its successes and eventually brought on Steve Jurvetson as a partner in 1994.

Throughout his career, Draper made a series of impactful investments. He played a crucial role in the early success of Hotmail, coining the term “viral marketing” during his involvement with the company. Draper’s forward-thinking approach also led him to become one of the first Silicon Valley venture capitalists to invest in China through the global fund, DFJ ePlanet. His investments in Baidu, Skype, Tesla, and Twitch have all proven to be highly lucrative endeavors.

Despite his many triumphs, Tim Draper’s career has had its controversies as well. He was an early investor in Theranos, a blood testing startup founded by Elizabeth Holmes. Despite Holmes facing charges of massive fraud, Draper remained a vocal supporter and defender of her.

Achievements

Tim Draper’s achievements extend far beyond his financial success. He has actively supported free markets and entrepreneurship throughout his career and regularly advocates against regulatory obstacles, such as Sarbanes-Oxley regulations. His innovative thinking also prompted him to pursue political initiatives like dividing California into smaller states, emphasizing his commitment to finding creative solutions in both business and governance.

In 2013, Draper launched Draper University of Heroes, an educational program focused on teaching entrepreneurship. This residential program, located in San Mateo, California, provides aspiring entrepreneurs with invaluable knowledge from notable speakers in the business world. Draper’s passion for education is further evident through his publications, including “How to be the Startup Hero: A Guide and Textbook for Entrepreneurs and Aspiring Entrepreneurs” and “When a Venture Capitalist Enters California’s Political Matrix: Innovation Meets the Status Quo.”

Personal Life

Beyond his professional endeavors, Tim Draper values his family deeply. He married Melissa Lee Parker in 1982 at the First Presbyterian Church of Burlingame, California. Together, they have four children named Jesse, Adam, Bill, and Eleanor. Draper’s children have followed in his footsteps to some extent, with some pursuing careers in venture capitalism.

With his entrepreneurial spirit, visionary investments, and unwavering dedication to innovation, Tim Draper continues to shape the investment industry and inspire future generations of entrepreneurs.