⬅ # 97 Radhakishan Damani|# 99 Jorge Paulo Lemann

# 98 David Tepper 


Real Time Net Worth
as of 5/18/2024

# 98 David Tepper 


Real Time Net Worth
as of 5/18/2024
OccupationFounder and President, Appaloosa Management
Source of WealthHedge Funds
ResidencePalm Beach, Florida
Marital StatusMarried
EducationMBA, David A. Tepper School of Business; BS, University of Pittsburgh
Age-Adjusted Net Worth$13.4B
David Tepper
David Tepper
United States
Net worth: $20.2B

Self-Made Score 

Wealth History

Hover or tap to reveal net worth by year
Loading Chart


Early Life and Education

David Alan Tepper was born on September 11, 1957 in Stanton Heights, Pittsburgh, Pennsylvania
Raised in a Jewish family in Stanton Heights, Pittsburgh
Attended Peabody High School in East Liberty, Pittsburgh
Worked at Frick Fine Arts library during college to help pay his way
Received honors with a Bachelor of Arts degree in economics from the University of Pittsburgh
Began small-scale investing during college with initial investments in Pennsylvania Engineering Co. and Career Academies, both of which went bankrupt

Business Career

Joined Equibank as a credit analyst in the treasury department after graduation
Earned Master of Science in Industrial Administration (MSIA) from Carnegie Mellon University in 1982
Worked at Republic Steel in Ohio and later joined Keystone Mutual Funds in Boston in 1984
Joined Goldman Sachs in 1985 as a credit analyst, later becoming the head trader
Played a crucial role in Goldman Sachs' survival after the 1987 stock market crash
Left Goldman Sachs in 1992 after being passed over for partner twice
Founded Appaloosa Management in 1993, achieving significant success with investments in distressed bonds and S&P 500 stocks
Awarded Institutional Hedge Fund Firm of the Year in 2011, ranked as top hedge fund earner of 2012 by Forbes
For the 2012 tax year, had the world's highest hedge fund manager paycheck of $2.2 billion

Political Activities

Contributed to 2013 Jersey City mayoral candidate Steve Fulop
Donated to U.S. Senator Charles E. Schumer and then-U.S. House Speaker John Boehner in 2015
Donated over $1 million to political action committees supporting Jeb Bush and John Kasich's presidential bids in 2016
Supported the Jeb Bush 2016 presidential campaign
Founded political action group Better Education For Kids in 2012
Donated $2.65 million in 2020 through David A. Tepper Foundation for Chicago's COVID-19 relief


Donated $55 million to Carnegie Mellon University's business school in 2004, leading to the naming of the David A. Tepper School of Business
Total gifts to Carnegie Mellon reached $125 million, including $67 million for Tepper Quad
Contributed to the University of Pittsburgh and Rutgers University - Mason Gross School of the Arts
Donated $1 million to United Jewish Communities of MetroWest New Jersey in 2006
Co-founded Better Education For Kids in 2012
Donated $200,000 in gift cards to Jersey City and Hoboken families after Hurricane Sandy
Keynote speaker at Carnegie Mellon University's 121st Commencement in 2018
Donated $1 million to Hurricane Ida relief effort in September 2021
Cumulative donations toward COVID-19 relief exceeded $22 million

Professional Sports

Purchased a 5% stake in the NFL's Pittsburgh Steelers in 2009
Bought the Carolina Panthers in 2018 for $2.3 billion, the highest bid in NFL history
Acquired an MLS franchise, Charlotte FC, in 2019 for a record $325 million expansion fee
Tepper's ownership of the Panthers faced criticism for team performance and business decisions
Fined $300,000 by the NFL for throwing a drink at a fan during a game in 2023

Relocation and Personal Life

Moved from New Jersey to Florida in 2016, then returned to New Jersey in 2020 for family reasons
Described as 'a regular upper-middle-class guy who happens to be a billionaire'
Known for his unpolished and controversial voice
Owns a beachfront mansion in New Jersey, purchased for $43.5 million and later demolished to build a larger house
Rubbed brass testicles on his desk for luck, a gift from former employees
In 2020, major parts of his investment portfolio include Alibaba (13%) and Amazon (11%)

How long would it take you to become as rich as David Tepper?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach David Tepper's net worth of $20.2B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

David Tepper is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For David Tepper, Hedge Funds is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey