David Portnoy Net Worth 2022: How Much Of Barstool Does He Own?
David Portnoy Net Worth: Dave Portnoy is an American social media personality, businessman, blogger, and creator of the Barstool Sports website. In 2003, he launched “Barstool Sports” as a print publication. The company would eventually develop into a surprising sports media behemoth. Portnoy became wealthy after founding Barstool Sports, a digital sports company that he later sold for $163 million in two transactions.
David Portnoy Early Life
David Portnoy was born on March 22, 1977, in Swampscott, Massachusetts. After leaving Swampscott High School, he continued his study and earned his degree from the University of Michigan in 1999.
He relocated to Boston upon graduation and began working for Yankee Group, a business that conducts IT market research. Also, check our trending articles David Blaine Net Worth and Mike Lindell Net Worth.
David Portnoy Personal Life
Before separating in 2017, Renee Satherthwait and David Satherthwait were married in 2009 and lived together for eight years. Portnoy started dating Jordyn Hamilton after divorcing his ex-wife.
After a brief relationship, they split up. Silvana Mojica, a 26-year-old model, accountant, influencer, and social media star who works as a model, social media star, and accountant, is reportedly David’s girlfriend, according to reports.
David Portnoy Career
Portnoy relocated to Boston after earning his degree from the University of Michigan in 1999 and started working at Yankee Group, a company that conducts IT market research.
After four years, Portnoy decided to leave Yankee Group in 2003. In the same year, he established his first business, Barstool Sports, a well-known parody sports and pop culture website. The website has developed into one of the most popular free sports blogs on the internet, covering all American sports.
The corporate office of Barstool has relocated to New York City. Over 80 million individuals per month visit Barstool Sports. During the COVID-19 lockdown, Dave gambled on day trading and lost around $647,000.
He opened an E-Trade account with $3 million and even live-streamed his daily trading operations on Twitter. At initially, he lost about $200k, but by April 17, he had lost $740k. By the end of trading on April 20, he had managed to recoup about $93k, and his current loss is about $647k.
— Dave Portnoy (@stoolpresidente) October 4, 2022
He established The Barstool Fund to carry out charitable endeavors. In 2020, when the COVID-19 outbreak was at its worst, Portnoy gave The Barstool Fund $500,000 to aid small businesses impacted by the pandemic. By 2022, 348 companies had received more than $39 million from the campaign.
In response to the Boston Marathon bombings, Dave donated $20,000 to Penn State’s annual IFC/Panhellenic Dance Marathon in 2019. This event raises money for pediatric cancer research and treatment, as well as for animal welfare and Veteran’s Day.
David Portnoy Controversies
Business Insider Expose
A Business Insider exposé from 2021 claimed that Portnoy had engaged in violent sexual relations with three women and had secretly recorded them on camera.
He acknowledged that one of the women fractured a rib during intercourse but denied that it was extramarital. Several similar claims were made in the year 2022. He later filed a lawsuit against the publication for making “false and defamatory” claims.
Portnoy, the creator of Barstool Sports, was under investigation by the National Labor Relations Board for threatening to fire workers if they formed a union. He subsequently agreed to an unofficial settlement that required him to delete his ominous tweets and any potential anti-union content from the company’s Twitter account.
NFL Related Incidents
Portnoy has been detained by New York City police twice in connection with NFL-related incidents: the first time was in 2015, when he and three Barstool employees handcuffed each other on the floor of NFL headquarters to protest Deflategate.
The second time was in 2019, when he was stopped for fabricating fake passes to attend a press conference the day before and prevented from going to the game. He spent a portion of Super Bowl LIII in a holding cell once more at Mercedes-Benz Stadium.
Portnoy unsuccessfully ran for mayor of Boston in 2013 when Thomas Menino announced his retirement. Despite receiving more than $17,000 in campaign contributions, he could not submit enough nomination signatures to be eligible for the election. He was labeled a libertarian during the election.
David Portnoy’s Net Worth
David Portnoy is an internet entrepreneur and prominent personality in American sports media, worth $100 million. Portnoy made his wealth as the creator of the dominant digital sports company, Barstool Sports. OThroughoutmany transactions, David sold some of Barstool, with the last one in August 2022.
In 2016, he sold most of his holdings. of The Chernin Group. For $163 million in January 2020, Penn Gaming purchased a 36% share from the founders. A future option to buy the entire business was included with this acquisition.
Penn Gaming exercised that option in August 2022, paying $390 million for the outright purchase of Barstool. Penn Gaming spent $550 million to acquire the whole Barstool business.
According to reports, David Portnoy paid $15 million for a house in Morningside, Miami, with a view of the ocean. A $10 million Hamptons beach property in Montauk is also allegedly owned by Portney.
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