Venture capitalist Tim Draper has founded numerous companies throughout his career. However, he is best known for his work with Draper Fisher Jurvetson (DFJ). Thanks to this, he has made many successful investments in large technology companies.
Moreover, he is a renowned supporter of cryptocurrencies. As of 2022, Tim Draper has a net worth of $1.2 billion according to Forbes.
Timothy Cook Draper was born on June 11, 1958 in East Chicago, Indiana. He comes from a long line of businessmen and civil servants. His father, William Henry Draper III, established the Draper & Johnson Investment Company.
His grandfather, Willian Henry Draper II, was chosen as the first ambassador to NATO. At first Tim chose a different career path than his family and studied Electrical Engineering at Phillips Academy Andover.
He then transferred to Stanford University, where he co-created the famous Stanford campus board game – The Game. He graduated in 1980 and an MBA in 1984 from Harvard Business School.
At first, Draper worked at the Alex. Brown & Sons, an investment bank. He left in 1985 to start his own business. He teamed up with fellow venture capitalists John Fisher and Steve Jurvetson to launch Draper Fisher Jurvetson.
Along with DFJ, the Indiana native created a startup venture capital firm called Draper Associates. 1990 saw the formation of the Draper Venture Network, which brought together experienced entrepreneurs from around the world.
In 2012, Timothy opened the for-profit institution Draper University of Heroes. He began working with Arizona State University (ASU) the following year. The last company he founded was Draper Goren Holm, a blockchain venture capital fund established in 2018.
Along with DFJ, Tim Draper has invested in companies that have introduced disruptive technologies. Its first major investment was in Hotmail, one of the first webmail services acquired by Microsoft in 1997 for $400 million.
He continued to fund companies that eventually became industry leaders. This includes Skype, Twitter, Baidu, Tesla, SpaceX, Ring, Focus Media, Coinbase, and Twitch. He was also an early investor in Theranos, Elizabeth Holmes’ company touted as a breakthrough health tech that went bankrupt in 2018.
As for his crypto efforts, Draper made headlines after buying 30,000 Bitcoins that were seized on the Silk Road at an auction by the US Marshals Service. He paid $19 million and realized a huge return on his initial investment.
Net worth and earnings
Through venture capital investing, Tim Draper became a billionaire by taking calculated risks in start-up companies. He made a huge fortune just investing in Skype. DFJ owned 10% of the company when it was acquired by eBay for $4.1 billion in 2005.
If he still holds all 30,000 Bitcoins, they would be worth over $600,000,000 today. Despite the recent selloff, Draper predicts that Bitcoin will hit $250,000 by 2023. His crypto portfolio also includes other riskier cryptos such as VeChain and Tezos. Currently, his net worth is valued at $1.2 billion.
Draper is married to Melissa Lee Parker. The couple have two daughters named Jesse and Eleanor, as well as two sons named Adam and Billy. Their family resides in Atherton, California.