David Tepper Net Worth

by Bright
David Tepper net worth
Advertisement

David Tepper net worth 2022: David Alan Tepper is an American billionaire businessman, hedge fund manager, and philanthropist. He is the owner of the Carolina Panthers of the National Football League (NFL) and Charlotte FC in Major League Soccer (MLS). Tepper is the founder and president of Appaloosa Management, a global hedge fund based in Miami Beach, Florida.

What is David Tepper net worth?

Read Richest Football Club Owners in the world

Net worth$14.4 billion.
NameDavid Alan Tepper
Date of birthSeptember 11, 1957
OccupationBusinessman and Philanthropist
NationalityUnited States

David Tepper Net Worth

As of 2022, David Tepper net worth is $14.5 billion making him one of the richest owners of NFL teams. He is the owner of the Carolina Panthers of the National Football League (NFL) and Charlotte FC in Major League Soccer (MLS). Tepper is the founder and president of Appaloosa Management, a global hedge fund based in Miami Beach, Florida.

Advertisement

David Tepper net worth Summary

David Tepper net worth 2021$14.5 billion
David Tepper net worth 2020$12 billion
David Tepper net worth forbes$14.5 billion

Early life and education

Tepper was born on September 11, 1957. He is the second of three children of Harry, an accountant, and Roberta, an elementary school teacher. He was raised in a Jewish family in the Stanton Heights neighborhood of the East End of Pittsburgh, Pennsylvania.

He attended Peabody High School in Pittsburgh’s East Liberty neighborhood, followed by the University of Pittsburgh, helping pay his way by working at the Frick Fine Arts library. He received a Bachelor of Arts degree in economics and graduated with honors. He also began small scale investing in various markets during college.

Advertisement

 His first two investments, given to him by his father, were Pennsylvania Engineering Co. and Career Academies. Both companies went bankrupt.

Advertisement

After graduation he entered the finance industry, working for Equibank as a credit analyst in the treasury department. In 1980, unsatisfied with this position, he enrolled at Carnegie Mellon University’s business school to pursue its then-equivalent of an MBA, a Master of Science in Industrial Administration (MSIA).

Career

After earning his MBA in 1982, Tepper accepted a position in the treasury department of Republic Steel in Ohio.

In 1984, he was recruited to Keystone Mutual Funds now part of Evergreen Funds in Boston.

In 1985, Tepper was recruited by Goldman Sachs as a credit analyst, which was forming its high yield group in New York City. Within six months he became its head trader, remaining at Goldman for eight years. His primary focus was bankruptcies and special situations.

He is credited with playing a major role in the survival of Goldman Sachs after the 1987 market crash. He bought underlying bonds in the financial institutions that had been “crippled by the crash”, which soared in value once the market picked up again.

Read Warren Buffet net worth

He assumed he would be made a Goldman partner but was passed over, partly because his “loud and profane” manner rubbed other more restrained Goldman executives the wrong way.

Advertisement

In December 1992, after being passed over for partner at Goldman Sachs twice in two years, Tepper quit. He began operating from a desk in the offices of mutual-fund manager and Goldman client Michael Price, aggressively trading his personal account in hopes of raising enough money to start his own fund. He created Appaloosa Management in early 1993.

In 2020 the largest parts of his portfolio are Alibaba with 13% and Amazon with 11%.

Sports Teams Ownership

On September 25, 2009, Tepper purchased a 5% stake in the National Football League’s (NFL) Pittsburgh Steelers.

Tepper bought the NFL’s Carolina Panthers from original owner and founder Jerry Richardson in May 2018, and was forced to sell his Steelers shares.

Upon closing the Panthers purchase in 2018, Tepper suggested his desire to bring a Major League Soccer (MLS) franchise to Charlotte.

 The Panthers organization placed a bid for an expansion team in July 2019 and were awarded the 30th MLS team on December 17, 2019.

Charlotte FC was awarded to Tepper on December 17, 2019, and is set to begin play in 2022 at Bank of America Stadium.

 Tepper reportedly paid $325 million in expansion fees for the franchise, setting an MLS record.

David Tepper Net Worth

David Tepper net worth 2022 is $14.5 billion. He is currently the wealthiest NFL team owner and also the 142nd richest person in the world.

Aside being a successful businessman, Tepper has been involved in a umber of philanthropic activities;

In 2020, along with other philanthropists, Tepper donated $2.65 million through David A. Tepper Foundation to help Chicago with its share of struggle from the coronavirus pandemic.

After Hurricane Sandy, David Tepper donated $200,000 in gift cards to Jersey City and Hoboken families who suffered loss in the storm.

In 2006, Tepper donated $1 million to United Jewish Communities of MetroWest New Jersey toward their Israel Emergency Campaign.

Family

In 1986, he married Marlene Resnick Tepper; they have three children: Brian, Randi, and Casey. In 2014, he separated from his wife. In 2019, he married Nicole Bronish after a two-year relationship.

David Tepper net worth 2022 is $14.5 billion. He is currently the wealthiest NFL team owner and also the 142nd richest person in the world.

Have your say about David Tepper net worth and Biography here.

Source: Glusea

Advertisement
Advertisement
Advertisement

You may also like

Comments are closed.

Glusea.com uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
error: Contact the site owner via email [email protected] to use this content !!