David Tepper Net Worth 2023: How Did He Make His Money?

david tepper net worth

David Tepper net worth is the one thing that many people want to know about. One of the richest sports club owners in the world, according to Forbes, is David Tepper, the owner of the Carolina Panthers. 

Tepper, the billionaire owner of a hedge fund, gained his wealth in the banking and investment sectors.

He was raised by middle-class parents. His father, Harry, was an accountant, and his mother, Roberta, was an elementary school teacher. 

The Panthers’ owner studied economics at the University of Pittsburgh in 1978. After earning his MBA, the 66-year-old billionaire started working for Republic Steel’s Treasury division in Ohio.

Before getting to know about David Tepper net worth in 2023, let’s talk about his schooling and personal life.

Childhood and schooling

David Tepper was the second of three children born to Roberta Tepper, an elementary school teacher, and Harry Tepper, an accountant, in Pittsburgh, Pennsylvania on September 11, 1957. 

He’s Jewish. Tepper attended Peabody High School as a teenager. He then went to the University of Pittsburgh, where he graduated with a bachelor’s degree in economics.

Tepper continued to earn his master’s degree in 1982 from Carnegie Mellon University.

Goldman Sachs

Tipper departed Keystone after receiving a job offer from Goldman Sachs as a credit analyst. In half a year, he became the company’s principal trader. 

He spent eight years working at Goldman Sachs, mostly concentrating on bankruptcies and unique circumstances. 

Tepper was acknowledged for being a key factor in the company’s ability to survive the 1987 stock market meltdown.

Appaloosa Management L.P.

David Tepper made his New York-based credit analyst debut with Goldman Sachs in 1985, working on the high-yield debt unit. Tepper spent seven years working as a head trader at Goldman Sachs. 

Expert in crisis debt, including bankruptcies and unique financial scenarios, Tepper founded Appaloosa Management L.P. with former colleague Jack Walton in 1993 after quitting Goldman Sachs.

Appaloosa made about $7 billion in 2009 from the recovery of failing financial stocks it had previously bought, having weathered the financial crisis of 2007–2008.

David Tepper net worth

Tepper became the highest-paid hedge fund manager of the year, taking home about $4 billion of those earnings. In 2012, he was once again rated as the highest-paid manager. 

Appaloosa has maintained its performance by making significant investments in businesses like Alibaba and Amazon in addition to its offshore Palomino Fund.

Personal life

Tepper wed Marlene in 1986. Before divorcing in 2016, they had three children: Brian, Randi, and Csey. 

Nicole Bronish and Tepper were married three years later. He had previously lived in Livingston, New Jersey, in a little stone home. 

Tepper also allegedly paid $43.5 million for his former Goldman Sachs supervisor’s oceanfront mansion, which he then demolished. He then had an even larger home constructed on the land.

What is David Tepper net worth in 2023?

David Tepper is a $16 billionaire businessman and philanthropist from the United States. He was among the wealthiest persons in New Jersey for a long time. 

He moved to Palm Beach and became the wealthiest person in Florida. As the creator of the hedge fund Appaloosa Management, Tepper amassed a fortune. 

In 1993, after being turned down time and time again for a partnership with Goldman Sachs, he went it alone. 

Both the Charlotte FC MLS soccer team and the Carolina Panthers NFL franchise are owned by him.

David Tepper is among the wealthiest sports team owners in the world thanks to his net worth. 

Regarding philanthropy, Tepper established the Tepper Quadrangle and several campus structures at Carnegie Mellon University with a $67 million donation.