Search “Packy McCormick net worth” and you’ll find a stack of pages that either dodge the question entirely or throw out a number with zero explanation behind it. That’s not good enough if you actually want to understand how a newsletter writer turned into a venture investor with a media brand worth paying attention to. This article breaks down the Packy McCormick net worth picture using actual revenue figures, fund structure, and business model logic — not guesswork dressed up as an answer.
Who Is Packy McCormick
Packy McCormick is the founder of Not Boring, one of the most-read business and technology newsletters on the internet, and the general partner of Not Boring Capital, an early-stage venture fund. Before any of that, he was working a standard finance job after graduating in 2009, spent time at Breather (a startup renting out private nap and meeting spaces), and eventually left to build something of his own.
He didn’t set out to become an investor. Not Boring started as a personal writing project in 2020. It grew because his long-form breakdowns of companies, trends, and business strategy resonated with founders, operators, and investors who wanted analysis that didn’t read like a sell-side research report. That audience became the foundation for everything that followed — the newsletter’s sponsorship revenue, the paid subscription tier, and eventually the venture fund that now sits at the center of any real conversation about Packy McCormick net worth.
Why Packy McCormick Net Worth Is Hard to Pin Down
Most of the pages currently ranking for this topic either say there’s no reliable number or throw out a wide range without showing their work. Both responses are honest in different ways — but neither is useful. Here’s why the number is genuinely difficult to nail down, and why that doesn’t mean it’s unknowable:
- He’s not a public company executive. There’s no SEC filing disclosing his personal compensation.
- His wealth is spread across multiple structures. Newsletter revenue, personal income, fund management fees, carried interest, and angel investments all sit in different buckets with different vesting and liquidity timelines.
- Carried interest isn’t realized until exits happen. A venture fund’s paper value and an individual GP’s actual take-home are two very different numbers.
- He hasn’t publicly disclosed a number. Unlike founders who sell a company and have a headline valuation, McCormick’s wealth is built gradually and privately.
That said, enough public information exists — subscriber counts, sponsorship rates, fund launch details, and his own comments in interviews — to build a reasoned estimate. That’s the goal here: not a guess, but a transparent breakdown.
Packy McCormick Net Worth: Estimated Breakdown
Based on available revenue data and fund structure, here’s how the components of Packy McCormick net worth likely stack up:
| Income Source | Estimated Annual Value | Notes |
|---|---|---|
| Not Boring newsletter (sponsorships) | $2M–$4M/year | Twice-weekly issues, sponsor-supported model since 2020 |
| Not Boring premium subscriptions | Six figures to low seven figures | Paid tier launched alongside free newsletter |
| Not Boring Capital management fees | Depends on fund size (AUM-based, typically 2%) | Standard VC fee structure |
| Not Boring Capital carried interest | Unrealized/variable | Only materializes on successful exits |
| Personal angel investments | Unrealized/variable | Made prior to and alongside the fund |
Estimated Packy McCormick net worth range: $5 million–$15 million, factoring in several years of strong newsletter revenue, a functioning venture fund, and unrealized equity positions. This is a wider and more conservative range than some sites publish, precisely because carried interest and private equity stakes are illiquid and shouldn’t be counted at face value.
It’s worth being blunt here: any number you see for Packy McCormick net worth — including this one — is an estimate built from public signals, not a confirmed figure. Anyone claiming precision to the dollar is guessing.
How the Newsletter Actually Makes Money
Not Boring’s business model is the clearest, most well-documented part of the Packy McCormick net worth equation, so it’s worth breaking down properly.
The Sponsorship Model
Every issue of Not Boring carries a primary sponsor. With two issues sent per week, that’s roughly 100+ sponsored placements a year. Newsletter sponsorship deals in this tier of audience size (180,000+ subscribers) typically range from the low five figures to higher, depending on placement and exclusivity.
The Subscriber Growth Timeline
| Milestone | Timeframe |
|---|---|
| Launch on Product Hunt | June 2020 |
| 50,000 subscribers | ~1 year after launch |
| 100,000 subscribers | ~8 months later |
| 180,000+ subscribers | Current range |
This growth curve matters because sponsorship rates scale with audience size and engagement — not just raw subscriber count. Not Boring’s long-form pieces (often 5,000+ words) are known for holding reader attention, which is part of why sponsors keep paying premium rates.
The Paid Subscription Layer
On top of sponsorships, Not Boring runs a paid tier for readers who want deeper access. This is a smaller but steady revenue stream layered on top of the sponsorship model — a dual-monetization approach that’s become common among top-tier newsletter operators.
Not Boring Capital: The Piece Most Articles Skip
This is where most existing coverage of Packy McCormick net worth falls short. Not Boring Capital is a venture fund, not just a side project, and it’s likely the largest long-term contributor to his actual wealth.
Key things to understand about the fund:
- It invests based on the same theses McCormick writes about. He researches a sector or trend publicly through the newsletter, then deploys capital behind companies operating in that space.
- It generates management fees. Like most venture funds, Not Boring Capital likely charges a standard management fee on assets under management (commonly around 2% annually in early-stage VC).
- It generates carried interest on successful exits. This is the real upside — but it’s also the least visible part of the picture, since fund returns aren’t publicly reported and exits take years to materialize.
- The content-to-deal-flow model is unusual. Most VCs don’t have a 180,000-subscriber audience feeding them deal flow and reputation simultaneously. This hybrid model is arguably more valuable long-term than either the newsletter or the fund would be on its own.
Because fund performance and AUM aren’t public, this part of Packy McCormick net worth remains the biggest unknown. It’s also the part most likely to grow significantly over the next decade if his fund’s portfolio companies perform well.
Packy McCormick Net Worth Compared to Similar Creator-Investors
McCormick isn’t the only writer who turned an audience into an investment platform. Comparing him to peers gives useful context for evaluating Packy McCormick net worth claims.
| Creator | Primary Platform | Investment Vehicle | Estimated Model Similarity |
|---|---|---|---|
| Packy McCormick | Not Boring newsletter | Not Boring Capital | Content-first, thesis-driven investing |
| Turner Novak | Banana Capital / newsletter | Banana Capital fund | Similar content-to-fund pipeline |
| Lenny Rachitsky | Lenny’s Newsletter | Occasional angel investing | Content-first, less fund-focused |
| Sahil Bloom | Newsletter + social audience | SRB Ventures | Audience-driven deal sourcing |
This comparison matters because it shows McCormick’s approach — build an audience through genuinely useful analysis, then convert that trust into investment access — is a repeatable model, not a one-off. It also suggests that as this creator-to-VC category matures, the ceiling for Packy McCormick net worth could rise substantially if Not Boring Capital’s portfolio companies mature and exit successfully.
Timeline: How Packy McCormick’s Wealth Has Likely Grown
| Year | Milestone | Estimated Financial Impact |
|---|---|---|
| 2020 | Not Boring launches | Minimal — early growth phase |
| 2021 | Crosses 50,000–100,000 subscribers | Sponsorship revenue scales significantly |
| 2022 | Not Boring Capital launches | New fee/carry income stream begins |
| 2023–2024 | Fund deploys capital across tech sectors | Illiquid equity positions build |
| 2025–2026 | Continued newsletter growth, fund maturing | Estimated $5M–$15M range |
This timeline is the clearest way to understand why Packy McCormick net worth is a moving target rather than a fixed number — most of grant cardone net worth is still tied up in positions that haven’t been realized yet.
What Would Actually Move the Needle
If you’re trying to track how Packy McCormick net worth might change going forward, these are the events that would matter most:
- A major exit from a Not Boring Capital portfolio company
- Disclosure of the fund’s total AUM across its vintages
- Continued newsletter subscriber and sponsorship growth
- Any acquisition offer for Not Boring as a media property
- New fund launches (Fund II, Fund III, etc.) with larger committed capital
None of these have been publicly confirmed as of this writing, which is exactly why any specific dollar figure for Packy McCormick net worth should be treated as an informed estimate, not a fact.
Key Takeaways
- Packy McCormick net worth is most reasonably estimated in the $5 million–$15 million range, built from newsletter revenue, fund management fees, and unrealized equity — not a single confirmed source.
- The newsletter’s twice-weekly sponsorship model, combined with a paid subscription tier, generates the most consistent and verifiable portion of his income.
- Not Boring Capital is likely the largest long-term factor in his wealth, but its actual performance and AUM aren’t public.
- Comparing him to similar creator-investors shows this content-to-VC model is a growing category, not an isolated case.
- Any precise number circulating online for Packy McCormick net worth should be treated skeptically unless it explains its methodology.
Frequently Asked Questions
What is Packy McCormick’s net worth?
Estimates place Packy McCormick net worth between $5 million and $15 million, based on newsletter revenue, venture fund fees, and unrealized investment positions rather than a confirmed public figure.
How does Packy McCormick make money?
He earns primarily through Not Boring’s sponsorship deals and paid subscriptions, plus management fees and potential carried interest from Not Boring Capital.
Does Packy McCormick own Not Boring Capital?
Yes, he founded and runs Not Boring Capital as the general partner, investing in early-stage startups aligned with themes he covers in the newsletter.
How many subscribers does Not Boring have?
Not Boring has grown to more than 180,000 subscribers since its 2020 launch, up from roughly 50,000 in its first year.
Is Packy McCormick’s net worth publicly confirmed?
No. There is no official disclosure of his personal net worth — all figures, including the estimates here, are derived from public revenue and business signals.
What was Packy McCormick’s career before Not Boring?
He worked in finance after graduating in 2009, then moved to Breather, a workspace startup, before leaving to eventually launch the Not Boring newsletter in 2020.