David Tepper is the owner of the National Football League’s Carolina Panthers, but how much do people really know about him? He’s An American businessman who earned his fortune in hedge funds and is now widely recognized for his entrepreneurial ventures that have made him a billionaire. We looked into his history and made some very interesting discoveries. Here are 10 things about David Tepper that you probably didn’t know.
1. He attended school at Carnegie Mellon University
After Mr. Tepper graduated from his school he was off to college. He attended the University of Pittsburgh, where he earned his bachelors degree in economics. He went on to attend the prestigious Carnegie Mellon University where he earned his MBA degree in 1982.
2. Tepper has a school named after him
David Tepper is a very rich man and a philanthropist who values higher education. He made a very large donation of $67 million to Carnegie Mellon. As a result, the University named the Tepper School of Business after him.
3. He was the highest paid hedge fund manager
Mr. Tepper set a world record in 2012. For this tax year he brought in a whopping paycheck of $2.2 billion making it the highest paycheck that a hedge fund manager has ever been paid. He also has the highest annual earnings for 2018 as ranked by Forbes in 2018 with a yearly earnings of $1.5 billion.
4. He was raised in Pittsburgh
Mr. Tepper had an interesting upbringing. He was the middle child in a family of three kids, born and raised in the Stanton Heights neighborhood at the East End of Pittsburgh. He was raised in a Jewish family by his mother Roberta who was an elementary school teacher and his father Harry, who was an accountant.
5. He recently disclosed he was an abused child
Mr. Tepper was born in 1957. Now in his early sixties, he shared a shocking truth about his childhood. When he made a commencement address at Carnegie Mellon University in 2018, he shared a very private part of himself. He disclosed that as a child his father had physically abused him.
6. He had to work to earn a living like everyone else
Mr. Tepper was not born with a silver spoon in his mouth. His family wasn’t rich and they had their share of problems, so his upbringing wasn’t a storybook childhood. David had to work to help pay his way through school when he attended the University of Pittsburgh. He worked at the Frick Fine Arts library to earn extra money to help out. He knows what it is to work for a living.
7. His first investments were not successful
Tepper made investments on a small scale while he was first in college. His father actually helped him out with his first two investments which were Career Academies and Pennsylvania Engineering Company, but both of the companies went bankrupt. Most investments that are made are a gamble and not all of them pay off. He learned this early in life but it didn’t serve as a deterrent, instead, it taught him a few valuable lessons.
8. David Tepper doesn’t see himself as a rich guy
One very interesting fact that we learned about David Tepper is that he doesn’t view himself as anything other than a “regular upper middle class guy.” He added the fact that he “happens to be a billionaire” as a caveat to that. He was talking about how he sees himself and how he interacts with the people in his environment but professionally and personally. He’s not a guy that puts forth a polished appearance and he has no desire to do so. Yes, he’s incredibly rich and he can afford to do anything that he wants to do, but his fortune hasn’t changed who he is, how he acts or how he conducts himself with others.
9. He’s extremely generous
David Tepper is a philanthropist who believes in donating generously to worthy projects and causes. One thing that is close to his heart is the University of Pittsburgh. He values higher education and he has proven it by making multiple large financial gifts to the school. He’s also funded multiple endowed undergraduate scholarships as well as provided assistance for community outreach and academic centers. He and his wife also made a pledge of $3.4 million to his wife’s Alma mater, the Mason Gross School of the Arts at Rutgers University.
10. He holds a doctorate
David Tepper didn’t attend school to earn a doctoral degree, yet he holds one. Carnegie Mellon University has seen fit to award him with an honorary doctorate degree. They did so in 2018 when he served as their keynote speaker at the 121st Commencement.