David Tepper Net Worth

How much is David Tepper’s net worth?

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net worth:	$16 billion
age:	66
Birth:	September 11, 1957
gender:	Male
Height:	1.75 m (5 ft 9 in)
country of origin:	United States of america
Sources of funds:	entrepreneur
Last Updated:	February 9, 2024

Introduction

David Tepper’s net worth is approximately $16 billion.

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David Tepper is an American billionaire businessman, hedge fund manager, and philanthropist.

Tepper owns the NFL’s Carolina Panthers and an unnamed Charlotte franchise in MLS.

Tepper is also the founder and president of Appaloosa Management.

early life

David Alan Tepper was born on September 11, 1957 in Pittsburgh, Pennsylvania.

He was the second of three children of Harry (who worked as an accountant) and Roberta (who was an elementary school teacher and taught in the city’s public schools).

Tepper was educated at the University of Pittsburgh and paid for her school fees by working at the Frick Fine Arts Library.

Livelihood

David Tepper studied at the University of Pittsburgh, where he received a Bachelor of Arts degree in Economics and graduated with honors.

Around the same time, his father gave him the opportunity to invest in Career Academies and Pennsylvania Engineering Company, but both companies went bankrupt.

After completing school, Tepper began working as a credit analyst in the treasury department of Equibank, but left the position in 1980.

After leaving there, he enrolled in Carnegie Mellon University’s business school to pursue a Master of Science in Industrial Administration.

Like many of the world’s richest people, David Tepper started with very little money but built his fortune through hard work.

Tepper’s Professional Career

After earning an MBA in 1982, David Tepper took a job at Republic Steel in Ohio and in 1984 he was recruited to Keystone Mutual Funds.

A year later, he secured a transfer to Goldman Sachs as a credit analyst, where he put his previous work experience to good use.

Within six months at the company, Tepper became their head trader and focused on special situations and bankruptcy.

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Tepper remained with the company for eight years and is credited with helping the company recover from the 1987 stock market crash.

They did this by buying bonds that had lost value, becoming some of the most expensive stocks in the world when the market stabilized.

In 1992, he left Goldman Sachs after not being made partner two years in a row, and in 1993 he formed Appaloosa Management.

Appaloosa Management

With Appaloosa Management, David Tepper was able to generate 61% returns by 2001 by focusing on distressed bonds, earning significant profits.

In 2009, his hedge fund made $7 billion by buying distressed stocks at low prices and then profiting from their recovery.

$4 billion of this profit went directly to Tepper’s personal wealth, making him the highest-earning hedge fund manager in 2009.

Two years later, his company was awarded Institutional Hedge Fund Firm of the Year, and in 2012 he was the 166th richest person in the world.

Soon after, he became one of the richest people in America with a net worth of $16 billion, which he earned through Appaloosa Management.

Buying sports teams

Along with running one of the most profitable hedge funds, Tepper also has stakes in some of the richest NFL teams and football teams.

In 2009, David Tepper purchased a 5% stake in the NFL’s Pittsburgh Steelers and in 2018, purchased the Carolina Panthers from Jerry Richardson.

However, after purchasing the Panthers, he was forced to sell his Steelers shares, although things didn’t exactly go well with his new team.

Considered one of the NFL’s worst owners, Tepper halted construction of the team’s practice facility and had his real estate division declared bankrupt.

He also threw a beverage at a fan during a 2023 game and was fined $300,000 by the NFL for the incident.

Also in 2018, he announced his desire to start a Major League Soccer franchise in Charlotte, North Carolina and was awarded Charlotte FC in 2019.

David Tepper’s net worth is $16 billion.

Highlights

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

Favorite quotes from David Tepper

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“For better or worse, we are the leaders of the pack. We are at the front of the pack, we are the first to move. First to move is interesting, you get to the good grass first, or sometimes the lion eats you.” – David Tepper

“I wanted to learn about this trading business, and the guy running the desk at the time wasn’t really a corporate guy. He wasn’t good at understanding companies and knew more about changes in interest rates, so he wasn’t really right for the job.” – David Tepper

“People say I basically went to Rubin instead of Corzine, but it wasn’t for political reasons. It was simply because Rubin knew what was going on with equities and Corzine was a Treasury guy who didn’t know about corporates. I wasn’t disloyal to him, but I wasn’t his guy.” – David Tepper

“I remember my father had made some small investments in a few companies, so I would keep an eye on them and see how their business was doing… but then the whole company went bankrupt. It was a bad investment, but that didn’t discourage me.” – David Tepper

3 Important Lessons from David Tepper

Now that you know all about David Tepper’s net worth and his success; let’s look at some lessons we can learn from him:

1. Be enthusiastic

Ambition isn’t just about wanting more. It also includes actions that bring you closer to achieving your goals.

First, don’t be satisfied with mediocrity. Envision your next level, then continue taking positive actions that move you closer to your vision.

2. Have a special place and be clever

Eventually earning what is equivalent to an MBA from Teen Kanji Maloney University, in 1982 Tepper accepted a position at Republic Steel in Ohio.

Tepper worked at the Treasury Department until he was recruited to Boston-based Keystone Mutual Funds in 1984.

Bonds of financial institutions were hit hard by the crash.

3. Feeling of gratitude

Develop an ‘attitude of gratitude’. Everyone you meet, say thank you for everything they have done for you.

Frequently Asked Questions

How much is David Tepper’s net worth?

David Tepper’s net worth is estimated at $16 billion.

How old is David Tepper?

David Tepper was born on September 11, 1957, and is currently 66 years old.

How tall is David Tepper?

David Tepper has a height of 1.75 m, which is equivalent to 5 feet 9 inches.

Summary

David Tepper is an American businessman and philanthropist who is one of the world’s richest sports team owners.

He founded his own company, Appaloosa Management, in 1993.