Is David Tepper a Republican? Inside Panthers owner’s family’s $7,000 donation to 2024 presidential candidate
David Tepper is one of the wealthiest NFL owners as his net worth is $18.6 billion, per Forbes. The former hedge fund manager turned Panthers owner recently donated to Republican Chris Christie's presidential campaign.
He and his wife, Nicole, contributed $3,500 each to Christie as the couple shares a connection with the presidential candidate. Tepper lived in New Jersey, where Christie served as governor from 2010 to 2018.
Tepper has leaned toward being a Republican as he donated money to the campaigns of Republicans Jeb Bush and John Kasich in 2016. While there were reports that he voted for Democrat Hillary Clinton for president in the 2016 election, his recent donation makes it clear where his loyalties lie.
In 2016, Tepper left New Jersey for Florida, causing a major hit to the state's yearly tax revenue. His departure may have meant around $140 million less in state revenue.
He returned to the state in 2020. The reported reason why the Carolina Panthers owner left The Garden State was due to the millionaire's tax. New Jersey did not impose a higher tax rate on earnings of over $1 million a year when Tepper left in 2016.
Yesterday, I was proud to announce an agreement to reinstate the millionaire’s tax in New Jersey.
No middle-class family should pay a higher percentage of their income in taxes than the wealthiest among us.
Tepper co-founded Appaloosa Management L.P. in 1993 and joined together a small group of rich investors. The hedge fund company used high-risk methods, like investing with borrowed money, to bring in big capital gains.
Appaloosa delivered a 57% return on its assets within six months after it started with $57 million in capital. It quickly grew from $300 million in 1994 to $800 million in 1996. Last year, David Tepper's company handled $3.82 billion worth of assets.
How much did David Tepper pay for Panthers?
Tepper bought the franchise for $2.3 billion in July 2018 from former owner Jerry Richardson. The team is now worth $3.6 billion, which ranks 25th among other NFL franchises.
Tepper laid out his plans on and off the field for the Panthers in a statement after his ownership was approved:
"Winning is the most important thing both on the field and in the community, and I am committed to winning a Super Bowl championship together. I look forward to being part of the Panthers' family and to supporting this flourishing region."
David Tepper has yet to have a winning season as the Panthers owner, including a 7-10 record last season.
Carolina hired former Indianapolis Colts head coach Frank Reich and took quarterback Bryce Young No. 1 in this year's NFL Draft.
Time will tell if the 65-year-old can turn around Carolina and get their first winning season since the 2017 season.
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