Timothy Cook Draper is an American Venture Capital Investor and the founder of Draper Fisher Jurvetson, Draper University, Draper Venture Network, Draper Associates, and Draper Goren Holm. Draper has his major proponent in the field of Bitcoin and decentralization. Let us further dive into understanding his background and net worth.
Early and Personal Life:
Tim was born on 11th June, 1958, in Illinois in the US. He has completed his education from Stanford University with a major in Electrical Engineering and then went on to complete his Master in Business Administration from Harvard Business School. Tim Draper is married to Melissa Draper and has two daughters, namely Jesse Draper & Eleanor Draper and two sons, Adam Draper & Billy Draper.
In 1994, he created a non-profit organization because he wanted young children to learn business and entrepreneurship. He called it Biz World and after that, from 1998-1999, he served as a member of the California State Board of Education. In 2011, Tim created the Draper University of Heroes which is an online school to help extraordinary people accomplish their dreams.
He is the third in the line of venture capitalists. His parents are Phyllis and William Henry Draper III who found Draper and Johnson in 1962 which was an investment company and also led as the chairman of Export-Import Bank for the United States. His grandfather had founded Draper, Gaither, and Anderson in 1958.
Draper left Alex which is an investment bank in 1985 to start his own venture capital firm. He partnered with his colleague John Fisher in 1991 and business student Steve Jurvetson in 1994. Draper first invested in Hotmail when Jack Smith and Sabeer Bhatia approached him. His idea of automatically attaching an advertising message to emails coined the term viral marketing in Silicon Valley.
He was the first capitalist to invest in China for Baidu. In 2001 he negotiated with CEO Robin Li and bought 28% of the company for $9 million USD. Draper’s father was an investor in Skype since early times and DFJ also started investing in 2004. They owned 10% of Skype in 2005. In 2006, he invested in Tesla in the Series C venture. Later on, in 2007, he again invested in Series D through Draper Associates.
In 2014, US Marshal seized the 30,000 bitcoin that Draper had bought and was later put up in an auction for $19 million USD. He told in an interview with Fox that he predicted one bitcoin to value around $10,000 in the coming three years. In 2017, the price of one bitcoin crossed $10,000. Recently in 2019, he said that he predicts by 2023 the value of a bitcoin price will go up to $250,000 USD.
Draper’s recent investments revolve around companies that use artificial intelligence, Bitcoin, Block-chain in industries like finance, health care, and government. Some companies are Robinhood, Coinbase, eShares, and OpenGov.
Establishing Draper University:
Draper University was found in 2012 with a vision to change the education system in order to change the World. This aims to teach entrepreneurship on a global scale in a completely different way. Draper had a new thought process and an innovative curriculum in it. Draper wants to bring young Entrepreneurs together which includes Start-up founders, executives, and investors together. He wants to bring change and has started a new show on ABC Family series Start-up U being Draper University as the star.
Tim Draper Net Worth:
Draper has been listed #46 on the most outstanding Harvard Alumni and #7 on Forbes Midas List. He is #1 Most Networked Venture Capitalist and #98 in 2014 on 100 most powerful people in Finance. So, he has also won various awards and honors.
His net worth is estimated to be around $1.2 billion. His earnings are mostly from investments which include companies like Baidu, Tesla, Space X, Twitter, and many more. Tim has given hope for economic growth. He wants to develop and create an environment with opportunities and innovations for the current world and the future.