David Tepper has been around NFL circles since 2009 and is one of the wealthiest people in the world today.
While the Carolina Panthers are currently valued at over $4.1 billion thanks to Tepper’s purchase in 2018. Now, it’s time to look into the current owner down in Charlotte, and how he amassed his fortune.
David Tepper’s Net Worth Explored
Forbes estimates Tepper’s net worth at $20.6 billion, making him the 91st-wealthiest person in the world.
The Panthers are now valued as the 26th-most valuable team in the NFL at $4.1 billion, a nearly $2 billion increase from when Tepper originally bought the team.
Tepper is considered a self-made billionaire. He made most of his money by founding and managing Appaloosa Management, a global hedge fund company, after a previous stop at Goldman Sachs.
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Since he emerged as a hedge fund manager, Tepper has also added companies like Alibaba with 13% and Amazon with 11% to his portfolio.
He remains one of the wealthiest people in America today and is now one of the wealthiest owners in the NFL.
How Tepper Positioned Himself To Buy the Panthers
As early as 2009, Tepper purchased a 5% stake in the Pittsburgh Steelers. He remained with the team as a part-owner under the Rooney family until 2018, when he purchased the Panthers from founder Jerry Richardson for $2.2 billion.
The process was made simple for Tepper because he was already a part-owner in the NFL. This allowed him to bypass certain NFL vetting processes, making his ownership run move quicker than other people trying to purchase the Panthers who had more ties to Carolina.
Tepper bought the Panthers in the wake of a major controversy. Richardson, the team’s founder in 1993, was found to have paid several settlements to employees for harassing comments and even a racial slur during his tenure. Shortly after, he agreed to sell the team to Tepper.
Since then, however, Tepper has done little to limit the controversy in Charlotte.
Whether it was the viral video of him throwing a drink at a fan, raising ticket prices despite the team’s lack of success, or demolishing a construction project for a new practice facility, Tepper has struggled to quell the concerns of Panther fans everywhere as the struggling franchise tries to turn the corner.