David Allen Tepar (born September 11, 1957) is an American hedge fund manager and founder of Appaloosa Management. His specialty is investment in bankruptcy. In recent years he has become known as a philanthropist, and in 2013 he donated his great gift of $ 67 million, of Carnegie Mellon University- Business School, whose name is named precisely Tiper. He received a BA in Economics from the University of Pittsburgh in 1978 and a master’s degree (then known as MSI) from Business School (then known as GSIA) of Carnegie Mellon University in 1982. In 2012, qualified for the institutional investor in Alpha, it is No. 1 to win the $ 2.2 billion in wages. He again topped the list in 2013, earning $ 3.5 billion.
After receiving a master’s degree in 1982, Tiper adopt its position at the Ministry of Finance of the Republic Steel in Ohio.
In 1984 he was hired in Keystone Mutual Funds (now part of the Evergreen Funds) in Boston, and in 1985, Tiper was hired by Goldman Sachs. He joined the firm in New York City as a credit analyst. Within six months Tiper became chief trader on the desk of high yield Goldman, where he worked for eight years. Its main specialty was bankruptcies and special situations. He left Goldman in December 1992 and began working in Appaloosa Management in early 1993.
In 2001, it generated a return of 61%, focusing on distressed bonds in the fourth quarter of 2005, he pursued what he sees as better opportunities in the standard S & P 500 shares. He made significant gains, year after year, “investing in companies” as MCI and Mirant. Investments in Conseco and Marconi also led to huge profits for hedge funds of the company, while Tiper “keep the market on the edge.”
In 2009, hedge fund Tepar earned around $ 7 billion through the purchase of distressed financial stocks in February and March (including Bank of America $ 3 per share), and then benefit from the recovery of these stocks at the end of year. $ 4 billion of that profit went to the personal wealth of Tepper. In March 2010, the New York Times reported that the success Tepper makes a most profitable hedge fund in 2009. In June 2011 he was awarded the company for institutional hedge fund of the year. Then again in 2013 Forbes ranked him as the top hedge fund running of 2012, raising its status as a 166th-place, a rich man in the world.
In 2014, Forbes entered David Tepper as one of the most lucrative managers 25 hedge funds in 2013
As privacy: Tepper and his wife Marlene are the parents of three children. His personal interests include training in baseball, softball and soccer teams of children. Teper is a resident of Livingston, New Jersey. Tepper currently serves as a member of the Business Council of Advisors. Tepper serves Business School in Carnegie Mellon, as well as various boards and committees for charities and community organizations in New York and New Jersey. On September 25, 2009, Teper buys share of 5% in the Pittsburgh Steelers.
Some of his charitable works are:
Announces that it will make a single donation of $ 55 million business school Carnegie Mellon University (then called the Graduate School of Industrial Administration-GSA). This donation was made after he was encouraged by Kenneth Dunn, former professor (who became dean of the school).
Teper also made some great gifts to the University of Pittsburgh, including a few gifted students awarded scholarships, academic support centers and university departments of community outreach programs.
In 2006, Teper donated $ 1 million to the United Jewish Communities of MetroWest New Jersey to their Emergency Campaign Israel.
David Tepper contributed $ 10,400 in 2013 to Jersey City to mayoral candidate, Steve Fülöp. According to the newspaper “Jersey” on October 24, 2012 .: “David Tepper is a billionaire who supports tenure reform and charter schools, contributed $ 10,400 to the Council’s nominee Fülöp, then Tepper’s wife gave the team an additional $ 10.400. “