CHARLOTTE, N.C. (QUEEN CITY NEWS) – Carolina Panthers’ owner David Tepper cracked a top spot in a recent study.
According to Forbes’ article released Tuesday, April 4, Tepper sits at No. 8 among the richest sports team owners in the world.
Tepper’s net worth sits around $18.5 billion, sandwiched between the No. 9 richest owner, the Cleveland Cavaliers‘ Daniel Gilbert ($18 billion), and the No. 7 richest, the Fukuoka Softbank Hawks’ Masayoshi Son ($22.5 billion).
With hedge funds being his source of wealth, Tepper founded Appaloosa Management in 1993, building it to $20 billion in assets under management at its peak, Forbes reports.
He bought the Panthers for $2.3 billion in 2018; the team is now worth $3.6 billion as of Aug. 2022.