David Tepper
American hedge fund manager; founder of Appaloosa Management; owner of the Carolina Panthers and Charlotte FC
| David Tepper
| |
|---|---|
| Image | .jpg) David Tepper |
| Born | 1957 Pittsburgh, Pennsylvania |
| Nationality | United States |
| Occupation | Hedge fund manager; sports team owner |
| Known for | Founder of Appaloosa Management; owner of the Carolina Panthers and Charlotte FC |
| Spouse(s) | Marlene Tepper |
| Education | University of Pittsburgh (BA); Carnegie Mellon University (MS, industrial administration) |
David A. Tepper (born 1957) is an American hedge fund manager. He founded Appaloosa Management in 1993 and has owned the National Football League's Carolina Panthers since 2018. He also owns the Major League Soccer club in Charlotte, North Carolina.[1][2][3] FEC records show at least US$3.3 million in itemised federal political contributions from him in the 2022–2026 cycles.[4] On 20 October 2026 the Forbes Real-Time Billionaires list ranked David Tepper 80th in the world, with an estimated net worth of US$28.5 billion; Forbes lists the source of wealth as Hedge funds.[1][5] In the annual World's Billionaires list published in 2026, Forbes had ranked David Tepper 109th, at US$23.7 billion.[6]
Early life and education
The Panthers describe Tepper as a native of Pittsburgh.[2] Forbes gives his year of birth as 1957 and lists a bachelor's degree from the University of Pittsburgh.[1] He earned a master of science in industrial administration at Carnegie Mellon University in 1982.[7]
Career
According to Forbes, Tepper headed the junk-bond desk at Goldman Sachs. He left after being passed over for partner and started Appaloosa in 1993.[1] In 2004 Carnegie Mellon described Appaloosa as a US$3 billion hedge fund firm based in Chatham, New Jersey.[7] Forbes reports that he has been returning client money over the past decade. The firm's roughly US$17 billion under management is now mainly his own capital. Forbes also says he moved from New Jersey to Florida in 2016 and took the firm with him.[1]
Sports ownership
Tepper had been a minority owner of the Pittsburgh Steelers since 2009.[2] On 22 May 2018 NFL owners unanimously approved his purchase of the Carolina Panthers from the team's founder, Jerry Richardson.[2] NFL.com reported a price of US$2.275 billion, then the most ever paid for a North American sports franchise.[8] On 17 December 2019 MLS awarded its 30th club, based in Charlotte, to Tepper.[3]
On 2 January 2024 the NFL fined Tepper US$300,000 for unacceptable conduct. A video from the Panthers' 26–0 defeat in Jacksonville appeared to show him throwing a drink from his suite into the crowd.[9][10] In a statement he said he regretted his behaviour and accepted the league's discipline.[10]
Rock Hill headquarters project
A Tepper company, GT Real Estate Holdings (GTRE), a subsidiary of Tepper Sports Holding, bought land in Rock Hill, South Carolina, for a new Panthers headquarters and practice facility. It halted construction about halfway through and then filed for Chapter 11 bankruptcy.[11] The Herald of Rock Hill reported that work stopped in March 2022 and the bankruptcy filing followed in June. The settlement approved by the Delaware bankruptcy court in December 2022 repaid York County the US$21 million it had put in and paid contractors US$60 million. Rock Hill received title to the land, and all parties dropped their lawsuits. The settlement did not assign fault.[12] GTRE's plan took effect on 20 December 2022.[11]
Wealth
Forbes gives hedge funds as the source of his wealth.[1][5]
Wealth history
Forbes has included this entry in its annual World's Billionaires list in 21 of the editions from 2001 to 2026 checked for this profile, starting with 2006. The table gives the rank and estimated net worth in each annual list, and, where applicable, the rank and estimate in the Forbes 400 list of the richest Americans.[6][1]
| Year | World's Billionaires rank | Net worth (US$ bn) | Forbes 400 rank | Forbes 400 net worth (US$ bn) |
|---|---|---|---|---|
| 2005 | – | – | 283 | 1.2 |
| 2006 | 645 | 1.2 | 242 | 1.5 |
| 2007 | 664 | 1.5 | 239 | 2.0 |
| 2008 | 605 | 2.0 | 262 | 1.8 |
| 2009 | 601 | 1.2 | 97 | 3.0 |
| 2010 | 258 | 3.5 | 62 | 4.3 |
| 2011 | 208 | 5.0 | 60 | 5.0 |
| 2012 | 199 | 5.1 | 59 | 5.5 |
| 2013 | 166 | 7.0 | 53 | 7.9 |
| 2014 | 122 | 10.0 | 46 | 10.0 |
| 2015 | 121 | 10.4 | 38 | 11.6 |
| 2016 | 85 | 11.4 | 35 | 11.4 |
| 2017 | 120 | 11.0 | 43 | 11.0 |
| 2018 | 138 | 11.0 | 38 | 11.6 |
| 2019 | 118 | 11.6 | 39 | 12.0 |
| 2020 | 101 | 12.0 | 41 | 13.0 |
| 2021 | 142 | 14.5 | 49 | 15.8 |
| 2022 | 103 | 16.7 | 33 | 18.5 |
| 2023 | 89 | 18.5 | 35 | 20.6 |
| 2024 | 94 | 20.6 | 39 | 21.3 |
| 2025 | 95 | 21.3 | 41 | 23.7 |
| 2026 | 109 | 23.7 | 39 | 28.5 |
Philanthropy
In 2004 Tepper and his wife, Marlene, gave Carnegie Mellon US$55 million, then the largest gift in the university's history, and its business school was renamed the David A. Tepper School of Business.[7] Forbes says he later gave US$67 million towards the university's David Tepper Quadrangle.[1]
Political activity
FEC records list Tepper's contributions under the employers Appaloosa Management and Tepper Sports & Entertainment, with addresses in New Jersey and Florida. Recipients named in the filings include SFA Fund, Inc., Tell It Like It Is PAC, Chris Christie for President, Inc., the Hogan Victory Fund, the Republican Accountability PAC, Alaskans for L.I.S.A. (Leadership in a Strong Alaska) and Romney for Utah Inc.[4] No lobbying registrations or political offices were found for him in the sources checked.
Across the 16 non-memo records retrieved for the 2022–2026 cycles, the filtered total is US$3,336,200 (a lower bound). The largest recipient committees, as named in the filings, were SFA FUND, INC (US$2,350,000), TELL IT LIKE IT IS PAC (US$500,000), HOGAN VICTORY FUND (US$190,000), REPUBLICAN ACCOUNTABILITY PAC (US$150,000), ALASKANS FOR L.I.S.A. (LEADERSHIP IN A STRONG ALASKA) (US$100,000).[4]
| Cycle | Total (US$, lower bound) | Records | Largest recipient committees (as filed with the FEC) |
|---|---|---|---|
| 2022 | $258,700 | 5 | REPUBLICAN ACCOUNTABILITY PAC ($150,000); ALASKANS FOR L.I.S.A. (LEADERSHIP IN A STRONG ALASKA) ($100,000); VALADAO FOR CONGRESS ($2,900); DAN NEWHOUSE FOR CONGRESS ($2,900) |
| 2024 | $3,077,500 | 11 | SFA FUND, INC ($2,350,000); TELL IT LIKE IT IS PAC ($500,000); HOGAN VICTORY FUND ($190,000); TEAM STAND FOR AMERICA ($33,200) |
International and political links
This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."
Israel (investments, operations, donations, contracts, statements)
No documented involvement found in sources checked.
Zionist or pro-Israel organisations and lobbying groups
No documented involvement found in sources checked.
Jewish communal charities
No documented involvement found in sources checked.
Gulf states
No documented involvement found in sources checked.
China
No documented involvement found in sources checked.
Russia
No documented involvement found in sources checked.
India
No documented involvement found in sources checked.
Palestinian or Arab causes
No documented involvement found in sources checked.
Home government
US citizen. Itemised federal political contributions of at least US$3.3 million in the 2022–2026 cycles (see Political activity).[4] In 2022 a company he owned went through Chapter 11 after the Rock Hill, South Carolina, project failed; the settlement repaid York County's US$21 million contribution.[12]
Other international links
No documented involvement found in sources checked.
See also
External links
Notes
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Forbes, Forbes profile record for David Tepper (Forbes data feed behind forbes.com/profile/david-tepper/) Forbes, live record, read 21 October 2026, accessed 21 October 2026.
- ↑ 2.0 2.1 2.2 2.3 Carolina Panthers, David Tepper approved to purchase Panthers Panthers.com, 22 May 2018, accessed 21 October 2026.
- ↑ 3.0 3.1 Major League Soccer, Major League Soccer comes to the Carolinas in 2021 as Charlotte is awarded an expansion team MLSSoccer.com, 17 December 2019, accessed 21 October 2026.
- ↑ 4.0 4.1 4.2 4.3 U.S. Federal Election Commission, OpenFEC Schedule A (itemised individual contributions) query, contributor name "TEPPER, DAVID"; 2026 cycle shown in link, the 2022, 2024 and 2026 cycles were queried together with the same parameters; top 100 records by amount; records filtered by employer/occupation and name, memo entries excluded U.S. Federal Election Commission, data as filed; queried 21 October 2026, accessed 21 October 2026.
- ↑ 5.0 5.1 Forbes, Forbes Real-Time Billionaires data feed Forbes, live; downloaded 20 October 2026 11:51 UTC, accessed 20 October 2026.
- ↑ 6.0 6.1 Forbes, Forbes World's Billionaires list data feed, annual editions 2001–2026 (one file per year at this path with the year substituted; all 26 files downloaded and read) Forbes, annual lists; downloaded 20 October 2026, accessed 20 October 2026.
- ↑ 7.0 7.1 7.2 Carnegie Mellon University, David A. Tepper (MBA '82) Donates Record $55 Million to Graduate School of Industrial Administration Carnegie Mellon University, 19 March 2004, accessed 21 October 2026.
- ↑ NFL.com, NFL approves David Tepper as new Panthers owner NFL.com, 22 May 2018, accessed 21 October 2026.
- ↑ David Close, Carolina Panthers owner David Tepper fined $300,000 by NFL over thrown drink CNN, 2 January 2024, accessed 21 October 2026.
- ↑ 10.0 10.1 Grant Gordon, Panthers' David Tepper fined $300K for unacceptable conduct; owner says he regrets behavior NFL.com, 2 January 2024, accessed 21 October 2026.
- ↑ 11.0 11.1 McDermott Will & Emery, McDermott Represents the City of Rock Hill, South Carolina in Chapter 11 Case of GT Real Estate Holdings, LLC McDermott Will & Emery, 20 January 2023, accessed 21 October 2026.
- ↑ 12.0 12.1 Andrew Dys, Judge OKs David Tepper company's bankruptcy plan; fight over failed Rock Hill project ends The Herald (Rock Hill), 16 December 2022, accessed 21 October 2026.