Age, Biography and Wiki
David Tepper (David Alan Tepper) was born on 11 September, 1957 in Pittsburgh, Pennsylvania, U.S., is an American billionaire businessman. Discover David Tepper's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 66 years old?
Popular As |
David Alan Tepper |
Occupation |
Hedge fund manager |
Age |
66 years old |
Zodiac Sign |
Virgo |
Born |
11 September, 1957 |
Birthday |
11 September |
Birthplace |
Pittsburgh, Pennsylvania, U.S. |
Nationality |
United States
|
We recommend you to check the complete list of Famous People born on 11 September.
He is a member of famous manager with the age 66 years old group. He one of the Richest manager who was born in United States.
David Tepper Height, Weight & Measurements
At 66 years old, David Tepper height not available right now. We will update David Tepper's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.
Physical Status |
Height |
Not Available |
Weight |
Not Available |
Body Measurements |
Not Available |
Eye Color |
Not Available |
Hair Color |
Not Available |
Who Is David Tepper's Wife?
His wife is Marlene Tepper (m. 1986-2016)
Nicole Bronish (m. 2019)
Family |
Parents |
Not Available |
Wife |
Marlene Tepper (m. 1986-2016)
Nicole Bronish (m. 2019) |
Sibling |
Not Available |
Children |
3 |
David Tepper Net Worth
His net worth has been growing significantly in 2023-2024. So, how much is David Tepper worth at the age of 66 years old? David Tepper’s income source is mostly from being a successful manager. He is from United States. We have estimated David Tepper's net worth, money, salary, income, and assets.
Net Worth in 2024 |
12 billion USD (2020) |
Salary in 2024 |
Under Review |
Net Worth in 2023 |
Pending |
Salary in 2023 |
Under Review |
House |
Not Available |
Cars |
Not Available |
Source of Income |
manager |
David Tepper Social Network
Timeline
David Alan Tepper (born September 11, 1957) is an American billionaire hedge fund manager.
He is the owner of the Carolina Panthers of the National Football League (NFL) and Charlotte FC in Major League Soccer (MLS).
Tepper is the founder and president of Appaloosa Management, a global hedge fund based in Miami Beach, Florida.
Tepper was born on September 11, 1957.
He is the second of three children of Harry, an accountant, and Roberta, an elementary school teacher.
He was raised in a Jewish family in the Stanton Heights neighborhood of the East End of Pittsburgh, Pennsylvania.
He earned a bachelor's degree in economics from the University of Pittsburgh in 1978, and an MBA from Carnegie Mellon University in 1982.
In 1980, unsatisfied with this position, he enrolled at Carnegie Mellon University's business school to pursue its then-equivalent of an MBA, a Master of Science in Industrial Administration (MSIA).
After earning his MBA in 1982, Tepper accepted a position in the treasury department of Republic Steel in Ohio.
In 1984, he was recruited to Keystone Mutual Funds (now part of Evergreen Funds) in Boston.
In 1985, Tepper was recruited by Goldman Sachs as a credit analyst, which was forming its high yield group in New York City.
Within six months he became its head trader, remaining at Goldman for eight years.
His primary focus was bankruptcies and special situations.
He is credited with playing a major role in the survival of Goldman Sachs after the 1987 stock market crash.
He bought underlying bonds in the financial institutions that had been "crippled by the crash”, which soared in value once the market picked up again. He assumed he would be made a Goldman partner but was passed over, partly because his “loud and profane” manner rubbed other more restrained Goldman executives the wrong way.
In December 1992, after being passed over for partner at Goldman Sachs twice in two years, Tepper quit.
He began operating from a desk in the offices of mutual-fund manager and Goldman client Michael Price, aggressively trading his personal account in hopes of raising enough money to start his own fund.
He created Appaloosa Management in early 1993.
In 2001, he generated a 61% return by focusing on distressed bonds, and in the fourth quarter of 2005 he pursued what he saw as better opportunities in Standard & Poor's 500 stocks.
Tepper “keeps the market on edge” and makes significant gains year after year by investing in the “diciest of companies,” such as MCI and Mirant.
Investments in Conseco and Marconi also led to huge hedge fund profits for the company.
In 2009, Tepper's hedge fund earned about $7 billion by buying distressed financial stocks in February and March (including Bank of America common stock at $3 per share), and then profiting from their recovery that year.
$4 billion of those profits went to Tepper's personal wealth, making him the top-earning hedge fund manager of 2009 according to The New York Times.
A 2010 profile in New York described him as the object of "a certain amount of hero worship inside the industry," with one investor calling him "a golden god."
Tepper revealed plans to eventually convert this hedge fund into a family office.
In a 2010 speech he recommended several supposedly risky investments, including AIG debt, Bank of America equity, and European banks.
Citing experts who predicted hyperinflation or depression and deflation, he argued neither would happen: “The point is, markets adapt, people adapt.
Don’t listen to all the crap out there.”
In June 2011, he was awarded the Institutional Hedge Fund Firm of the Year.
For the 2012 tax year, Institutional Investor's Alpha ranked Tepper's $2.2 billion paycheck as the world's highest for a hedge fund manager.
In 2013, he donated his largest gift of $67 million to Carnegie Mellon, whose Tepper School of Business is named after him.
In 2013, Forbes ranked him as top hedge fund earner of 2012, moving him up to the 166th wealthiest person in the world.
He earned the third position on Forbes The Highest-Earning Hedge Fund Managers 2018 with an annual earnings of $1.5 billion.
As a boy he “played football and memorized the baseball statistics on the backs of cards given to him by his grandfather—early evidence of what he claims is a photographic memory.” In a 2018 commencement address at Carnegie Mellon University, he revealed that his father had been physically abusive toward him.
He attended Peabody High School in Pittsburgh's East Liberty neighborhood, followed by the University of Pittsburgh, helping pay his way by working at the Frick Fine Arts library.
He received a Bachelor of Arts degree in economics and graduated with honors.
He also began small scale investing in various markets during college.
His first two investments, given to him by his father, were Pennsylvania Engineering Co. and Career Academies.
Both companies went bankrupt.
After graduation he entered the finance industry, working for Equibank as a credit analyst in the treasury department.