The business world requires some true gems who by discovering new tactics and strategies can add an exponential benefit to the economy. David Tepper is one such big name in the business and investing circles around United States. He is famous for investing in “distress companies”. He stands completely out of the league with his unique investment style. Let’s have a close look on David Tepper’s net worth in 2018.
David Tepper Early Life
David Tepper was born on September 11, 1957, as David Alan Tepper to Harry, an accountant and Roberta, a public school teacher. He is the second of the three children born to his parents. He was raised in a lower middle class locality in Pittsburgh, Pennsylvania. Being good in maths from an early age, he was also a show and tell subject to his elder sister for his good multiplication and adding skills. David Tepper at the mere age of 4 could do complex calculations. He opened up from a quiet and shy kid to being the prankster of the class. Although, David was a bright student, he never scored an ‘A’. He was too mischievous and once he even ended up in the Principal’s office for fighting with Squirt bottles taken from chemistry class.
David Tepper did his first investment worth 100 shares for $2 , inspired from his father’s discussions on investing. He lost the investment, but it didn’t stop him from investing further. David Tepper was better at acting and actually won a Best Actor award for doing a play in school. He secured his Bachelors degree in BA economics Hons from the University of Pittsburgh in 1978. To pay for the school, he also did a job at the fine arts library of the university. Proctor & Gamble offered him a job after his graduation, but instead, he chose to work in Equibank in Pittsburgh, as a credit and securities analyst.
David Tepper married Marlene Resnick in 1986 and they have three children together named Brian, Randi, and Casey. David and Marlene gave their biggest gift worth $67 million in 2013 to Carnegie Mellon University, after which Tepper School of Business was named after him. The couple reportedly divorced in 2014.
David Tepper Career, Awards & Achievement
David Tepper did his MBA in 1982 and then did a job in the treasury department of Republic Steel in Ohio. Later on, from 1985 to 1992, David was recruited in Goldman Sachs, where he primarily worked in the field of bankruptcy. He then left the firm and started his own Appaloosa Management in early 1993. David Tepper since then, with every passing year, had gained huge benefits in the hedge fund market and had become an on edge investor. He mastered the art of working on tenterhooks, as he bought distressed financial stocks and secured a huge benefit, which made him a top earning hedge manager of 2009, according to a report of New York Times.
Awards and Achievements
2010: David Tepper was recognised as a top earning hedge fund manager in a report of New York Times.
2011: Awarded Institution Hedge Fund firm of the year.
2013: Forbes rank came and David Tepper was again a top earning hedge investor of 2012. It made him 166th richest person of the globe.
2017: Forbes once again placed David Tepper in top 25 highly earning hedge fund managers in 2016.
Net worth of David Tepper
David Tepper has a net worth of $12 billion. He is one of the wealthiest person in New Jersey, thanks to his knack for risky investments.
What makes David Tepper notable is his distinct investment style, which drew him huge benefits in terms of money and fame. Being exemplary and confident in your own way seems to be the key for upholding a top image in any field.