By Bram Berkowitz
Publication Date: 2026-06-08 08:05:00
David Tepper is among the elites when it comes to investing.
The billionaire launched his hedge fund, Appaloosa Management, in 1993 with $57 million in capital and grew it to roughly $14 billion in assets by 2019, at which time he converted it into the family office he still runs today.
Tepper has made some prescient calls during his time as a fund manager, particularly in distressed situations, when he would buy the debt of struggling companies or those on the brink of default for pennies on the dollar, such as Enron and WorldCom.
Appaloosa would ultimately be repaid in the bankruptcy process or if the company reorganized, leading to tremendous gains.
These days, when Tepper makes a big move, the market takes notice. In the first quarter of the year, Appaloosa sold most of its Microsoft stake and initiated a new position in an artificial intelligence (AI) memory stock that’s up an incredible 4,100% over the past year.
Image source: Getty Images.
