David Marcus has several successful business ventures listed in his resume, and these have helped him earn a staggering net worth ranging from $5 million to $10 million.
He started his entrepreneurship in 1996 by founding GTN Telecom and eventually became associated with PayPal and Facebook (now Meta).
Thrilled to announce that @Coinbase has selected @Lightspark to enable the #Bitcoin Lightning Network across its platform and services. Yet another significant milestone for Lightning! âš¡to many millions of new people and 100+ countries coming soon! https://t.co/Dj5JDqdmOl
— David Marcus (@davidmarcus) April 3, 2024
After all these, he founded Lightspark, which describes itself as using the Lightning Network to “extend the capabilities of Bitcoin.”
Through all these ventures, it is no surprise that David Marcus amassed a notable net worth that ranges in millions to his name.
David Marcus started his startup after Meta’s crypto project failed, and now his competitors have bought three of the companies he founded!
Having made a significant impact in the technology industry, David Marcus mainly made a name for himself as the co-creator and board member of Libra, a Facebook-initiated cryptocurrency project.
Before this, he also served as the Vice President of Messaging Products at Facebook. As a part of his role, he ran the Facebook Messenger unit from 2014 to 2018. He also had a stint at PayPal, serving as the president.
Thrilled to join the @Coinbase Board! Looking fwd to doing my best to help @brian_armstrong and the amazing team he's assembled, continue to democratize access to cryptocurrencies, and deliver on the mission to create an open financial system for the world https://t.co/CDGPu4RhYO
— David Marcus (@davidmarcus) December 12, 2017
Marcus, who dropped out of the University of Geneva, founded GTN Telecom, which World Access later acquired. He then went on to serve as the Chairman at echo6.
He also founded Echovox before Zong, an offshoot of Echovox allowing users to pay for items online directly through their mobile phone bills. In August 2011, eBay bought Zong for $240 million.
David Marcus was named vice president of PayPal’s unit and president a year later. One of the highlights of his tenure was overseeing PayPal’s $800 million acquisition of Braintree, Venmo’s parent company.
According to a few online sources, he owns about 49,565 shares of eBay Inc. stock worth over $3 million. Most recently, he reportedly sold 25,846 units of EBAYL stock worth $1,344,767 on May 5, 2014.
In June 2014, Marcus joined Facebook to work on the company’s mobile messaging products as the Vice President.
Personal news: after a fulfilling seven years at Meta, I’ve made the difficult decision to step down and leave the company at the end of this year. (1/7)
— David Marcus (@davidmarcus) November 30, 2021
During his tenure, he also played an important role in the acquisition of WhatsApp. In June 2019, Libra, a cryptocurrency managed by Facebook and other companies such as the Libra Association, was announced.
But life had different plans as he went on to build his startup, Lightspark. Further, he is the founder of three companies that the competitors have bought. So, it is no surprise that David Marcus’s net worth is in multi-millions!
Additional Information
- David Marcus, 51, was born in Paris, France, on April 12, 1973, to an Iranian mother and a Romanian father who worked as a banker.
- On July 31, 2014, he announced on Twitter that he was endorsing the Republican Party and President Trump.
