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David Tepper Gives Rounding Error Towards Hurricane Relief

Three million dollars isn’t nothing, but...
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David Tepper has a lot of money.

According to Forbes, he’s sitting on $11 billion. And when you have $11 billion, which sum grows every year, you start to think about what to do with it. He’s thought about getting a plane or an island, he’s seriously considered a major gift to the Loch Ness Monster Society. He fantasizes about buying restaurants where waiters have been slightly less-than attentive just to fire them. He has actually bought his ex-boss’s ex-wife’s house just to tear it down and stick it to him, as well as hired Ashlee Simpson to perform at his daughter’s bat mitzvah—back in 2005, and not now, when anyone can hire Ashlee Simpson to perform at a barbeque in their backyard for a few hundred dollars. He’s given generously to his alma mater, Carnegie Mellon, and owns a stake in his beloved Pittsburgh Steelers. He occasionally throws $20 bills on the floor to make a point.

Recently, David Tepper spent some of his billions on a new place in Florida. Somewhat more recently, Florida and several neighboring U.S. territories were inundated by three consecutive giant hurricanes. This got David Tepper thinking: “Maybe I should spend some of my savings helping out my neighbors. It’s the least I can do.”

Feeding America has received a $3 million pledge from the David Tepper Charitable Foundation and Appaloosa LP to help hurricane relief efforts in Texas, Florida and Puerto Rico….

In a statement released Wednesday, hedge fund manager David Tepper said ensuring food banks and pantries have access to food, clean water, and resources in times of crisis is "vital to helping these communities recover."

To put that number into perspective, David Tepper made $700 million last year. Prior to moving to Miami, 9% of that would go to the state of New Jersey, but Florida has no state income tax. Nine percent of $700 million is $63 million. So David Tepper gave a hair under 5% of the money living in Florida let him save to help Florida’s less fortunate in their time of need.

But hey, it's not nothing. And maybe some other Fundies will follow Tepper's lead. Perhaps Paul Singer could even lean on Mark Brodsky to give Puerto Rico a little money and let bygones be bygones.

David Tepper charity pledges $3 million for hurricane relief [CNBC]



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