David Tepper

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David Tepper

David Alan Tepper (born September 11, 1957 ) is an American hedge fund manager. In 2009 he was the highest paid hedge fund manager of all time.

Life

After studying economics at the University of Pittsburgh , from which he graduated with a very good Bachelor of Arts , he joined Equibank in 1980 as a credit analyst. When this job no longer suited him, he enrolled at Carnegie Mellon University Business School and graduated in 1982 with a Master of Science degree in Industrial Administration. After working at Republic Steel in Ohio, he was recruited by Heystone Mutual Funds and moved to Goldman Sachs in 1985 , where he was promoted to Head Trader after just six months. In 1992 he left Goldman Sachs and founded Appaloosa Management.

In 2006 he reached a salary of 670 million US dollars . In 2009, Appaloosa Management made around $ 7 billion in profit and paid him around $ 4 billion in salary, making him the highest earning investor on Wall Street , surpassing George Soros , and making him the list of the 400 richest people in the world. Tepper became the "highest-earning (n) hedge fund manager in history" and was among the 50 richest Americans.

In 2004, Tepper and his wife donated $ 55 million to Carnegie Mellon University . In return, the Carnegie Mellon University Business School was renamed the David A. Tepper School of Business . Today it is one of the best business schools in the USA.

Tepper had assumed that the US government would bail out other endangered banks after the bankruptcy of Lehman Brothers , and in 2009 had relied on the purchase of bank stocks , for example Bank of America and Citigroup .

David Tepper is married and has three children.

In 2018, he acquired the NFL franchise Carolina Panthers for approximately $ 2.3 billion.

capital

David Tepper is a multi-billionaire. On the Forbes List 2018, his fortune is stated at approximately 11 billion US dollars, which makes him number 120 on the Forbes list of the richest people in the world.

Web links

Individual evidence

  1. ↑ Hedge Fund Croesus collects 4,000,000,000 dollars a year In: Spiegel Online from April 1, 2010
  2. ^ John Dyer: David Tepper In: Wiener Zeitung, December 23, 2009 (accessed November 15, 2013)
  3. ↑ Viktoria Unterreiner: Hedge fund bosses collect billions in amounts In: Die Welt from April 2, 2010
  4. ^ The four billion man in: Tages-Anzeiger from April 2, 2010
  5. ↑ Record fees for hedge funds In: Wiener Zeitung of April 3, 2010 (accessed November 15, 2013)
  6. ↑ That $ 2.5 Billion Smile In: Der Bund, December 22, 2009
  7. ↑ Harald Grimm: David Tepper, the "Mother Teresa of the financial market" In: Manager Magazin from August 24, 2004
  8. ↑ András Szigetvari: Hedge funds: Highest bonuses of all time In: The standard from April 3rd / 5th. April 2010
  9. ^ Norbert Kuls: Payday for Hedge Fund Managers In: Frankfurter Allgemeine Zeitung of April 2, 2010
  10. ↑ Tepper buys the Panthers In: ran from July 9, 2018 (accessed May 7, 2019)
  11. ↑ Forbes : David Tepper
personal data
SURNAME Tepper, David
ALTERNATIVE NAMES Tepper, David Alan
BRIEF DESCRIPTION American investor and manager
DATE OF BIRTH September 11, 1957