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International Business Times UK

Niloy Chakrabarti

David Tepper Offloads Intel, Slashes UnitedHealth Stake in Q3 to Buy This Lesser-Known Stock

David Tepper Intel Corporation UnitedHealth Whirlpool UnitedHealth Group Goldman Sachs Nvidia NYSE

David Tepper’s net worth exceeds $23 billion, and he’s known for buying distressed company stocks. (Credit: Twitter / Value Theory @ValueInvestorAc)

David Tepper is the founder of Appaloosa Management, one of the most successful hedge funds in the world. The investor, with a net worth of over £17.2 billion ($23 billion), is also the owner of the NFL's Carolina Panthers and Charlotte FC in Major League Soccer.

He is credited with playing a significant role in the survival of Goldman Sachs after the 1987 stock market crash. Tepper left Goldman Sachs in 1992 and established Appaloosa in 1993, which has achieved annualised returns of around 25% since inception.

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