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This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.
Tepper is an American hedge fund manager and the founder and president of Appaloosa Management. Tepper is regarded as one of the world’s leading hedge fund managers. His Appaloosa group once managed up to $20bn. As of October 2024, he has an estimated net worth of $21.3bn and is one of the 100 richest people in the world according to Forbes. In this article, we will investigate if there is a David Tepper family office that manages his wealth.
Tepper plans to convert Appaloosa Management into a family office
A graduate of the University of Pittsburgh, Tepper joined Goldman Sachs in 1985 after working at Evergreen Funds and Republic Steel. In 1993, after being passed over for partner at Goldman Sachs, he founded Appaloosa Management. He built his portfolio through aggressive trading of his personal account. Appaloosa has been incredibly successful, making a killing buying distressed financial stocks in 2009 and becoming one of the top hedge fund groups in the US. In 2019, Tepper announced plans to convert Appaloosa into a family office 2019. The move came as no surprise as Tepper is following the same path as Cooperman at Omega and Jacobsen at Highfields. Tepper plans to return all capital to investors, although no date has been set. Tepper’s plans coincide with his acquisition of the Carolina Panthers NFL team for $2.3 billion in 2018. Tepper also owns a 5% stake in the Pittsburgh Steelers, which he bought in 2009. Aside from football, Tepper also owns MLS soccer team Charlotte FC, which he bought in 2019 for a reported $325 million.
Picture source: Kenny Eliason
Last Updated on October 28, 2024
