Billionaire investor David Tepper founded the Appaloosa Management hedge fund in 1993, which currently has over £5.1 billion in assets under management. Tepper is renowned for his high-risk, opportunistic trading approach. He has a personal net worth of £16.83 billion.
Tepper was heavily investing in distressed assets during the 2008 global financial crisis. He purchased nearly £1.58 billion worth of commercial mortgage-backed securities at face value from AIG and made a £5.53 billion profit on the trade after the US government stepped in to save the banks.
