The Venture-Capital Populist
David Sacks, a venture capitalist once critical of Donald Trump, hosted a high-profile fundraiser in 2024 that marked a turning point in Silicon Valley's embrace of the MAGA movement. Once calling Trump's actions on January 6 an 'insurrection,' Sacks shifted to full support, helping normalize tech leaders' alignment with Trump. He was later appointed as special adviser for AI and crypto, signaling a new era of tech influence in the Trump administration.
- ▪David Sacks hosted a $12 million Trump fundraiser in June 2024 at his San Francisco mansion, signaling a shift in Silicon Valley's political alignment.
- ▪Sacks previously condemned Trump's role in the January 6 Capitol riot but later became a key supporter and adviser.
- ▪Senator J.D. Vance attended the fundraiser, which helped solidify his position as Trump’s running mate.
- ▪Sacks was appointed as Trump’s special adviser, or 'czar,' for AI and crypto after the 2024 election.
- ▪Sacks has long identified as a 'libertarian conservative' but advocated for government bailouts when it benefited his investments.
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PoliticsThe Venture-Capital PopulistHow David Sacks and the new tech right went full MAGA and captured WashingtonBy George PackerIllustrations by Mike McQuadeSources: Samuel Corum / Sipa / Bloomberg / Getty; Al Drago / Bloomberg / Getty; Stockbyte / Getty.May 4, 2026, 5:55 AM ET ShareSave The courtship between Silicon Valley and MAGA was consummated on June 6, 2024, in San Francisco’s Pacific Heights neighborhood, on a street known as “Billionaires’ Row,” at the 22,000-square-foot, $45 million French-limestone mansion of a venture capitalist named David Sacks. Along with Chamath Palihapitiya, a fellow venture capitalist and a colleague on the All-In podcast, Sacks hosted a fundraiser for Donald Trump.
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