Dave Portnoy Net Worth

How much is Dave Portnoy’s net worth?

Maybe you are interested

net worth:	$120 million
age:	47
Birth:	March 22, 1977
gender:	Male
Height:	1.83 m (6 ft 0 in)
country of origin:	United States of america
Sources of funds:	entrepreneur
Last Updated:	August 5, 2024

Introduction

Dave Portnoy’s net worth is approximately $120 million.

You are watching: Dave Portnoy Net Worth

Dave Portnoy is an American entrepreneur and sports media personality who earned his fortune by founding Barstool Sports.

He founded Barstool Sports as a print publication in 2003.

Over time, the company grew into an unexpected sports media powerhouse.

early life

David “Dave” Portnoy was born on March 22, 1977 in Massachusetts.

Portnoy is the son of Michael and Linda and attended Swampscott High School.

Portnoy joined the University of Michigan in 1995. He later received a degree in education.

Livelihood

While Dave Portnoy was studying at the University of Michigan for an education degree, he founded a sports betting website called The Gamblingman.

He used the website to publish his selections each week, a precursor to his move into sports media and online newspapers.

After graduating from university, Portnoy was hired by an IT market research firm called Yankee Group, a subsidiary of Reuters Enterprise.

In 2004, Portnoy founded Barstool Sports, a 4-page newspaper aimed at young Boston men who rejected political correctness.

The newspaper was distributed at railway stations and on street corners and attracted advertisers such as PartyPoker, which was operating illegally in the United States.

After a rough start, Portnoy hired another writer and began publishing photographs of scantily clad women on the front page.

In 2017, Dave attended the Sports Illustrated Swimsuit Red Carpet event where some of the richest models in the world reviewed various pizza slices.

Barstool Sports grew into a major media company

By 2007, he had added a blog based on sports, bikini-clad women, and betting, which ensured his business stayed afloat.

Barstool Sports has grown into a major sports and popular culture media company, with Portnoy developing a bro-culture persona, calling himself “El Presidente”.

See more : Juanes Net Worth 2024: Earnings, Investments, and Financial Growth

Considering that print media was on the wane, Portnoy’s transition from print media to online, thereby expanding the company’s digital presence, was a visionary move.

The candid and bold male-oriented reporting established Barstool Sports as a distinctive and relevant media organization that resonated with its target audience of young men.

By 2016, Barstool’s growth made it a viable player in the sports media market and the Chernin Group acquired a majority stake in the business.

Now that Portnoy had made a name for himself, and with the backing of a major industry player, Portnoy was able to significantly expand the publication’s reach.

Headquarters moved to New York City

The company’s headquarters were moved to New York City but by 2020, Penn Entertainment was showing interest in the business.

He acquired a 36% stake in Barstool Sports that year by paying $163 million, marking a significant increase in valuation in just four years.

Just three years later, Penn Entertainment completed its 100% acquisition of Barstool, paying $388 million for the remaining shares in 2023.

However, in a strange twist of fate, Penn Entertainment agreed to sell the company back to Portnoy for a mere $1.

The deal was the result of a larger deal with ESPN, in which Penn Entertainment rebranded its online sports-betting business from Barstool Sportsbook to ESPN Bet.

Penn Entertainment agreed to sell Barstool back to Portnoy with the condition that they would share 50% of the profits of any future sale agreement.

Promise to never sell Barstool Sports again

Portnoy reportedly told the media that he would not part ways with Barstool Sports under any circumstances in the future.

Under the deal with ESPN, Penn Entertainment received a cash payment of $1.5 billion and $500 million in warrants from ESPN.

Penn Entertainment had 10 years to pay the purchase price, which included 31.8 million Penn common shares to be exchanged for various rights.

The following year, Portnoy launched a pizza review series called “One Bite with Davey Pageviews”, reviewing pizzas from around the world,

Portnoy’s business originally started as a competition amongst his friends, but it became a business when it became widely popular.

Not only did he eat a slice of pizza at each establishment he reviewed, but he also claimed he lost weight from the practice.

Making a stir in Massachusetts

The show was not without drama, as he got into a heated argument with Charlie Redd, the owner of Dragon Pizza in Massachusetts.

See more : What is Maria Conchita Alonso Net Worth 2024: Financial Insights | Rachel Parris

Charlie didn’t like the fact that his pizza was called bad and the argument that followed was quite spicy for viewers.

The show benefited greatly from this and continued to attract a wider audience, especially when Portnoy invited celebrities on the show.

Portnoy also hosted the first One Bite Pizza Festival in Brooklyn in 2023, hoping to further solidify Barstool’s influence while also engaging his audience.

Though Portnoy’s goal isn’t to have the world’s most expensive pizza, no pizza establishment is safe from his sights.

Jail for publicity stunt

In another publicity stunt, Portnoy was detained in a detention cell at Mercedes-Benz Stadium for a portion of Super Bowl LIII.

Portnoy was banned from attending the game after a stunt involving a fake pass at a press event the day before the Super Bowl.

He remains a polarizing figure due to his outspoken, conservative views, as well as his vocal support for Donald Trump and his 2015 presidential campaign.

Portnoy ran an unsuccessful campaign for mayor of Boston in 2013, and is an outspoken critic of liberal, Democrat policies and lawmakers.

Barstool Sports attacked Taylor Swift for making derogatory comments on its popular podcast, Pardon My Take, and requested that she not attend NFL games.

It seems likely that Portnoy will continue to seek attention through any publicity stunt he can to maintain interest in his company.

Dave Portnoy’s net worth is $120 million.

Highlights

Here are the best highlights of Dave Portnoy’s career:

Founder of Barstool Sports
One Bite with Dewy Pageviews (Internet Show, 2017)

Frequently Asked Questions

How much is Dave Portnoy worth?

Dave Portnoy’s net worth is estimated at $120 million.

How old is Dave Portnoy?

Dave Portnoy was born on March 22, 1977, and is currently 47 years old.

How tall is Dave Portnoy?

Dave Portnoy has a height of 1.83 m, which is equivalent to 6 feet 0 inches.

Summary

Dave Portnoy is a businessman, blogger, and founder of the online sports blog Barstool Sports.

He was nicknamed “El Presidente” and “El Press” throughout his career, and earned a degree in education during his university years.