David Tepper Net Worth 2023: 1,850 crores USD. David Alan Tepper is an American billionaire hedge fund manager. He is the owner of the Carolina Panthers of the National Football League and Charlotte FC in Major League Soccer. Tepper is the founder and president of Appaloosa Management, a global hedge fund based in Miami Beach, Florida.
David Tepper Net Worth 2023
|Net Worth:||1,850 crores USD|
|Date of Birth:||Sep 11, 1957 (65 years old)|
|Place of Birth:||Pittsburgh|
|Nationality:||United States of America|
David Tepper was born in Pittsburgh, Pennsylvania on Sep 11, 1957. Tepper graduated from the University of Pittsburgh, and then earned his M.B.A. from Carnegie Mellon University. Decades later, in 2013, Carnegie Mellon named its business school the Tepper School of Business after receiving a $67 million donation from the finance tycoon.
David Tepper Relationship
|Spouse||Nicole Tepper (m. 2019), Marlene Resnick Tepper (m. 1986–2014)|
|Divorce||Marlene Resnick Tepper (2014)|
|Children||Brian Tepper, Randi Tepper, Casey Tepper|
|Siblings||Scott Tepper, Sheryl Witman|
Here are some of the best highlights of David Tepper’s career:
- Tepper is the owner of the Carolina Panthers
- He is also the founder of Appaloosa Management
He began his professional career in finance with a job at Equibank. After completing his Masters, he began working for Republic Steel. He then worked for Keystone Mutual Funds in the mid-80s. This led to a job offer from Goldman-Sachs, where he worked for eight years, ultimately ascending to head trader on a high-yield desk. Despite being a high-performer, Tepper felt repeatedly looked-over each year when it was time to name new partners. Frustrated by the rejection Tepper decided to go his own way. In 1993 he launched Appaloosa Management. Appaloosa Management. It took a few years to gain some traction, but by the early 2000s Appaloosa was thriving. In 2001 the firm generated a 61% return, primarily through investing in distressed bonds. Distressed bonds would become a trademark. Tepper made savvy investments in the debt of “dicey” companies.
In 2009 Appaloosa earned $7 billion in profits. Tepper personally took home $4 billion of those profits. That was enough to make him the highest-paid hedge fund manager of the year, by a long shot. He earned that accolade again in 2012 after personally earning $2.2 billion. In 2019 David announced his plan to convert Appaloosa into a family office, meaning the firm would return outside money to investors and would eventually manage his own personal assets alone. At its peak, Appaloosa had $14 billion in assets under management, roughly 70% of which were Tepper’s own money.