David Tepper Net Worth is$5.1 Billion
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Profession: Businessperson, Investor
Date of Birth: Sep 11, 1957
Country: United States of America
David Tepper net worth: David Tepper is an American businessman and philanthropist with a net worth of $5.1 billion dollars which makes him one of the richest people in New Jersey. Born in Pittsburgh, Pennsylvania, David Tepper graduated from the University of Pittsburgh, and then earned his M.B.A. from Carnegie Mellon University. He began his professional career in finance, working for Equibank. After completing his Masters, he began working for Republic Steel. He began working for Keystone Mutual Funds in the mid-80s. This led to a job offer from Goldman-Sachs, where he worked for eight years, ultimately ascending to head trader on a high-yield desk. He founded his own company, Appaloosa Management in 1993. Appaloosa Management has stayed afloat relatively well compared to other companies during the current economic downturn. In 2011, he reportedly sold interests in Yahoo, Pfizer, HP, and Bank of America, and purchased additional stakes in oil refineries and General Motors. He also gave $7 million to various food banks, and gave $55 million to Carnegie Mellon's business school. David Tepper ATM Receipt: Tepper is perhaps most famous for withdrawing $400 from an ATM in the Hamptons and accidentally leaving the receipt. The next person who used the ATM found his receipt and noticed his account balance was close to $100 million! The ATM receipt was posted on the internet and became sensation:
David Alan Tepper (born on September 11, 1957) is an American hedge fund manager and the founder of Appaloosa Management. His investment specialty is distressed companies. In recent years he's become known as a philanthropist, his largest gift going to Carnegie Mellon University, whose Tepper School of Business is named after him. He earned his BA in Economics from the University of Pittsburgh in 1978 and his MBA (then known as an MSIA) from Carnegie Mellon in 1982.
Tepper was raised in the East End of Pittsburgh in the city section known as Stanton Heights and attended Peabody High School in the East Liberty neighborhood of Pittsburgh, Pennsylvania. At the University of Pittsburgh he paid his way through school by working at the Frick Fine Arts library. He graduated with honors receiving his Bachelor of Arts degree in Economics. He also dabbled in the markets during college.
After graduation he entered the finance industry working for Equibank as a Credit Analyst in the Treasury department. In 1980, unsatisfied with this position he enrolled at Carnegie Mellon University's business school to pursue its then version 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, and in 1985, Tepper was recruited by Goldman Sachs, which was forming its high yield group. He joined the firm in New York City as a credit analyst. Within six months, Tepper became the head trader on the high-yield desk at Goldman where he worked for eight years. His primary focus was bankruptcies and special situations. He left Goldman in December 1992 and started 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 s

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David Tepper Latest News

Billionaire David Tepper is ‘pretty cautious’ on the stock market

Billionaire hedge-fund manager David Tepper doesn’t see a lot of upside for stocks as investors await the outcome of the November elections. “Depending on the outcome of the election, the market can move different ways,” the founder of Appaloosa ...
Posted: October 16, 2016, 10:09 pm

David Tepper on Market Caution and Election's Impact

"We're pretty cautious on the market, not outright bearish on the market," Tepper said. Tepper also believes the election will impact the market substantially. The best-case scenario for it would be a Democratic president and Republican congress, although ...
Posted: October 17, 2016, 1:00 am

David Tepper Is The Ken Bone Of Hedge Funders

The Trump campaign’s relationship with hedge funds and the people who run them has been as predictably batshit and resistant to logic as almost everything else involving the Trump campaign. But as Reuters reported yesterday, that doesn’t mean hedge ...
Posted: October 18, 2016, 12:34 pm
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