David Tepper is an American hedge fund manager, philanthropist and owner of the Carolina Panthers, a National Football League (NFL) team. Born on September 11, 1957, in Pittsburgh, Pennsylvania, he is known for his exceptional success in the world of finance and investments. As the founder of Appaloosa Management (a hedge fund), he pioneered the contrarian investment approach. His audacious moves in distressed financial institutions in the 2008 financial crisis, showcased his unwavering confidence and profound market insights.
David Tepper Net Worth, Bio, Height, House & More
|Full Name||David Alan Tepper|
|Birthplace||Stanton Heights, Pittsburgh, Pennsylvania|
|Residence||Livingston, New Jersey|
|Date of birth||September 11, 1957|
|Height||6 Feet 3 inches (190 cm)|
|School||Peabody High School|
|College||University of Pittsburgh (BA in Economics)|
Carnegie Mellon University (MSIA)
|Educational Qualifications||BA in Economics |
MSIA (an equivalent to MBA)
|Occupation(s)||Hedge fund manager|
|Net worth||$16.7 billion|
David Tepper Wife & Family
|Wife||Marlene Tepper (1968-2016)|
Nicole Bronish (2019-present)
|Children||Brian, Randi, and Casey|
Also Read: Jim Rohn Books, Net Worth, Wife, Quotes
David Tepper Favourites
|Book||“The Intelligent Investor” by Benjamin Graham|
|Quotes|| “The market is a discounting mechanism which |
brings prices into line with value over time.”
|Activities||Playing golf and Poker|
David Tepper Career
Start of his career: David Tepper started his career as a research analyst at Goldman Sachs in 1985 then he moved to Kidder, Peabody & Co. in 1989, where he became a managing director.
Hedge Fund Success: David Tepper founded his hedge fund Appaloosa Management in 1992 with $10 Million following the contrarian investment approach. He looks for undervalued assets and doesn’t afraid to take risks.
Investing in distressed debt: David Tepper is most popular due to his investing style which focuses on distressed debt (a kind of debt issued by companies that are in financial difficulty, a high-risk debt). He had gained great success in this area by finding undervalued assets during the 2008 financial crisis.
Acquisition of Carolina Panthers: David Tepper is a big fan of football. In 2019, he acquired the Carolina Panthers of the National Football League (NFL). After this, he became the first Jewish owner of an NFL team.
David Tepper Portfolio
- NVIDIA Corporation (8.01%)
- Meta Platforms Inc. (8%)
- Microsoft Corporation (7.14%)
- Amazon.com Inc. (7.65 %)
- Alibaba Group Holding Ltd (6.92%)
- Uber Technologies Inc (5.73%)
- Energy Transfer LP (5.63%)
- Constellation Energy Corp. (5.58%)
- Macy’s Inc. (5.37%)
- Advanced Micro Devices Inc (4.88%)
Awards Won By David Tepper
- Institutional Investor Alpha Award for Best Performing Hedge Fund Manager (2009)
- Managed Funds Association (MFA) Award for Outstanding Achievement in the Management of Hedge Funds (2011)
- Hedge Fund Journal Lifetime Achievement Award (2017)
- Carnegie Mellon University Tepper School of Business Distinguished Alumni Award (2018)
- New York Institute of Finance Lifetime Achievement Award (2020)
David Tepper Book Recommendations
- The Intelligent Investor by Benjamin Graham
- Security Analysis by Benjamin Graham and David Dodd
- The Black Swan by Nassim Nicholas Taleb
- Fooled by Randomness by Nassim Nicholas Taleb
- The Little Book of Common Sense Investing by John C. Bogle
David Tepper Quotes
- “I’m not a big fan of consensus. When everyone is bullish, I get worried.”
- “I’m a contrarian. I like to buy when others are selling.”
- “I’m not afraid to take risks. I think that’s what separates the good investors from the great investors.”
- “I’m always looking for the next big opportunity.”
- “I’m not afraid to fail. I think that’s how you learn and grow.”
Less Known Facts
- He is a big fan of the Pittsburgh Steelers. Before purchasing the Carolina Panthers, Tepper made a bid to buy the Pittsburgh Steelers, the NFL team from his hometown.
- Tepper has a notable art collection, which includes works by artists like Jackson Pollock and Norman Rockwell.
- In 2012, he earned one of the highest incomes ever recorded by an individual in a year, mainly due to his successful investments.
- He is the first Jewish owner of an NFL team.
Frequently Asked Questions (FAQs)
What is David Tepper’s net worth?
He has a net worth of around $18.5 billion as of March 2023.
How did David Tepper become a billionaire?
He became a billionaire through his hedge fund Appaloosa Management which started in 1992 with just $ 10 million.
What is David Tepper’s investment philosophy?
He is a contrarian investor who looks for undervalued assets and doesn’t afraid to take risks.
What are David Tepper’s most famous investments?
Some of David Tepper’s most famous investments include:
* His short position on subprime mortgages in the lead-up to the 2008 financial crisis.
* His investment in the distressed debt of General Motors and Chrysler during the 2008 financial crisis.
* His investment in the Chinese technology company Alibaba Group.
* His investment in the American technology company NVIDIA Corporation.
What stocks does David Tepper own?
As of June 30, 2023, his top holdings are NVIDIA Corporation, Meta Platforms Inc, Microsoft Corporation, Amazon.com Inc, and Alibaba Group Holding Ltd.
When did David Tepper start his hedge fund?
David Tepper started his hedge fund in 1992 with just $10 Million.
How much does David Tepper make?
In 2022, he had made around $1.5 Billion which is lesser than the previous year which is around $2.1 Billion. He also receives a salary from the fund of around $10 Million per year.
Which is the school named after David Tepper?
Graduate School of Industrial Administration (GSIA) was renamed as Tepper School of Business in 2009 after the name of David Tepper, a 1979 GSIA graduate.