|Born||David Alan Tepper
September 11, 1957
Pittsburgh, Pennsylvania, U.S.
|Alma mater||University of Pittsburgh
Carnegie Mellon University
|Occupation||Hedge fund manager|
|Known for||Founder and president of Appaloosa Management|
|Net worth||US$11.4 billion (February 2016)|
|Spouse(s)||Marlene Tepper (m. 1986)|
David Alan Tepper (born September 11, 1957) is an American hedge fund manager and the founder of Appaloosa Management. His investment specialty is distressed companies. In recent years he has become known as a philanthropist, and in 2013 he donated his largest gift of $67 million to Carnegie Mellon University, whose Tepper School of Business is named after him. He earned his BA in Economics from the University of Pittsburgh in 1978 and his MS in Industrial Administration from the Tepper School of Business (then known as GSIA) of Carnegie Mellon University in 1982. For the 2012 tax year, Institutional Investor’s Alpha ranked Tepper No. 1 for earning a $2.2 billion paycheck. He topped the list again in 2013, earning $3.5 billion.
High school and college
Tepper was raised in a Jewish family in the East End of Pittsburgh, Pennsylvania in the Stanton Heights neighborhood. He was the second of three children born to Harry, who worked as an accountant, and Roberta, who was an elementary school teacher who taught at public schools in the city. He attended Peabody High School in Pittsburgh's East Liberty neighborhood. He attended the University of Pittsburgh and helped pay his way through school by working at the Frick Fine Arts library. He graduated with honors, receiving his Bachelor of Arts degree in economics. He also dabbled in the markets during college. His first two investments, given to him by his father, were Pennsylvania Engineering Co. and Career Academies, which went bankrupt.
After graduation he entered the finance industry, working for Equibank as a credit analyst in the treasury department. In 1980, unsatisfied with this position, he enrolled at Carnegie Mellon University's business school to pursue a Master of Science in Industrial Administration (MSIA).
In 1984, he was recruited to Keystone Mutual Funds (now part of Evergreen Funds) in Boston, and in 1985, Tepper was recruited by Goldman Sachs, which was forming its high yield group. He joined the firm in New York City as a credit analyst. Within six months, Tepper became the head trader on the high-yield desk at Goldman where he worked for eight years. His primary focus was bankruptcies and special situations. He left Goldman in December 1992 and started Appaloosa Management in early 1993.
In 2001, he generated a 61% return by focusing on distressed bonds, and in the fourth quarter of 2005 he pursued what he saw as better opportunities in Standard & Poor's 500 stocks. He makes significant gains year after year by “investing in the diciest of companies,” such as MCI and Mirant. Investments in Conseco and Marconi also led to huge profits for the company’s hedge funds while Tepper “keeps the market on edge.” 
In 2009, Tepper's hedge-fund earned about $7 billion by buying distressed financial stocks in February and March (including Bank of America common stock at $3 per share), and then profiting from the recovery of those stocks later that year. $4 billion of those profits went to Tepper's personal wealth. In March 2010, the New York Times reported that Tepper's success made him the top-earning hedge fund manager of 2009. In June 2011, he was awarded the Institutional Hedge Fund Firm of the Year. Then, again in 2013, Forbes ranked him as top hedge-fund earner of 2012, elevating his status to the 166th wealthiest person in the world.
In 2014, Forbes listed David Tepper as one of the 25 Highest-Earning hedge fund managers in 2013.
Tepper keeps a brass replica of a pair of testicles in a prominent spot on his desk, a present from former employees. He rubs the gift for luck during the trading day to get a laugh out of colleagues.
In 1986, he married Marlene Tepper; they have three children: Brian, Randi, and Casey. In 2014, several media outlets reported that he has separated from his wife.  His personal interests include coaching his children’s baseball, softball and soccer teams.
In 2016, he relocated his family and his company to Miami Beach, Florida, where there are no personal income taxes. Tepper lived in New Jersey for more than two decades, initially as an executive at Goldman Sachs Group Inc., where he helped run junk-bond trading during the late 1980s and early 1990s.
He founded Appaloosa in 1993 and now has an estimated fortune of $10.6 billion, according to the Bloomberg Billionaires Index. That ranked him as the wealthiest person in New Jersey.
Tepper currently serves as a member of the Business Board of Advisors for the Tepper School of Business at Carnegie Mellon and serves on various boards and committees for charitable and community organizations in New York and New Jersey. On September 25, 2009, Tepper purchased a 5% stake in the Pittsburgh Steelers.
Donation to Schools
On March 19, 2003, Tepper announced that he would make a single donation of $55,000,000 to Carnegie Mellon University's business school (then called the Graduate School of Industrial Administration—GSIA). This donation was made after he had been encouraged by Kenneth Dunn, his former professor (who became dean of the school). Tepper accepted the suggestion but made the contribution a “naming gift” and suggested that the school's name be changed to the David A. Tepper School of Business. Further, in November 2013, Carnegie Mellon announced a $67 million gift from Tepper to develop the Tepper Quadrangle on the north campus. The Tepper Quad will include a new Tepper School of Business facility across the street from the Heinz College as well as other university-wide buildings and a welcome center which will serve as a public gateway to the university. This brings Tepper's total gift to Carnegie Mellon to $125 million.
Tepper also has made several large gifts to the University of Pittsburgh, including several endowed undergraduate scholarships and support of academic centers and university-run community outreach programs. David A. Tepper and wife Marlene have pledged $3.4 million to Rutgers University - Mason Gross School of the Arts, the alma mater of his wife.
In March 2012, Tepper and his former colleague, Alan Fournier founded a political action group, Better Education For Kids. "Better Education for Kids is entering the fray as private organizations are poised to play a larger role in education in New Jersey. Christie wants more charter schools, and he’s pushing legislation that would allow private companies to take over struggling public schools. According to the NJ Star Ledger on June 24, 2011, "Last week, the fledgling group launched a $1 million campaign to advertise its mission and solicit donations. Unlike traditional non-profits, Better Education for Kids is a type of non-profit not required to disclose its donors. Though the group cannot formally coordinate its work with lawmakers, it will be advised by two of the state’s top political consultants: Mike DuHaime, a Republican strategist with close ties to Christie, and Jamie Fox, a Democrat who served as former Gov. James E. McGreevey’s chief of staff."
David Tepper contributed $10,400 to the 2013 Jersey City Mayoral Candidate, Steve Fulop. According to the Jersey Journal on October 24, 2012, "David Tepper, the billionaire who supports tenure reform and charter schools, contributed $10,400 to Fulop's council candidates, while Tepper's wife gave the team an additional $10,400." Fulop's former campaign manager Shelley Skinner became the Deputy Director of Tepper's non-profit Better Education for Kids.
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- Named Investment Guru of 2010
- David Tepper Portfolio with stock Picks
- David Tepper's Appaloosa Stock Portfolio, updated quarterly
- Tepper school official website
- "David Tepper Hedge Fund Manager Appaloosa Management," aTrader, May 4, 2010
- "Investor David Tepper goes where others don't dare", Pittsburgh Tribune-Review, December 22, 2009
- "Ready to be Rich," (September 26, 2010 profile in New York Magazine)
- "Fund Boss Made $7 Billion in the Panic", The Wall Street Journal, December 23, 2009