David Portnoy is an American sports celebrity as well as businessman. Portnoy gained his fortune as the creator of Barstool Sports, an internet sports company he created in 1999.
He sold a portion of Barstool in two different transactions. For the first time, he transferred control of the firm to The Chernin Group in 2016.
These deals will be addressed in greater depth later in this article, as will their impact on Portnoy’s wealth. So, if you’re interested in learning more about Dave Portnoy’s net worth, keep reading.
Dave Portnoy Information
- Full Name: Dave Portnoy
- Height: 5’10”
- Net Worth: $120 Million
- Age: 43
- Born: March 22, 1977
- Country of Origin: United States of America
- Source of Wealth: Entrepreneur
Dave Portnoy Net Worth
Dave Portnoy is among the most powerful social media brands in sports broadcasting, with an estimated net worth of $120 million and a repute as a day trader eager to make large stock bets.
Barstool Sports, Dave’s firm, was started in 2003. The business began with a sports journal distributed in the Boston region. However, as the internet grew in popularity, Dave launched the company’s website in 2007. Over the next decade, the site expanded into a media powerhouse.
Because of his position at the firm, Dave was dubbed “El Presidente” or “Stool Presidente.” In 2016, he sold controlling ownership in the company to Peter Chernin for an estimated $10 million to $15 million.
In 2018, Chernin planned to spend another $20 to $25 million in order to grow his interest in the firm to 60%. Barstool stock rocketed to all-time highs of $38 in the days following the deal’s announcement.
Other Achievements of Dave Portnoy
- Portnoy moved to Boston in search of work after graduating from the University. He landed a job with the “Yankee Group,” a market research agency specializing in IT.
- Dave Portnoy and his colleagues introduced Barstool’s Internet version.
- Following the retirement of Boston’s longest-serving mayor, Thomas Menino, Dave Portnoy gathered more than $16,000 in campaign donations to become the city’s next mayor.
- In 2014, AOL partnered with Barstool Sports to offer unique online programming from the site.
Dave Portnoy Quick Facts
- His daily routine includes listening to music.
- He isn’t a breakfast eater.
- Every day, he eats pizza.
- He had a wife.
- He isn’t afraid of causing a stir.
- He wishes to purchase a sports team.
- He majored in education.
- He was accused of sexual harassment.
- He’s well-known on social media.
Dave Portnoy Background
Dave Portnoy was born in Massachusetts to Jewish parentage Michael as well as Linda on March 22, 1977. The youngster grew up mostly around Boston and is a huge Red Sox fan.
Dave attended the University of Michigan after graduating from Swampscott High School. Dave graduated from University with a bachelor’s degree in education in 1999. Dave traveled to Boston after finishing college and began working for the “Yankee Group,” an IT business, before creating Barstool Sports.
So this is all from us about Dave Portnoy’s Net Worth. Dave is an entrepreneur, online star, and American sports media figure. In 2016, Portnoy sold majority ownership in Barstool Sports to The Chernin Group, and Penn Gaming bought a 36 percent stake in the firm for $163 million in 2020. Currently, the net worth of Dave Portnoy is $120 million.
Is Dave Portnoy a millionaire?
Dave Portnoy’s net worth is estimated to be $120 million. Dave Portnoy is a businessman and sporting media celebrity from the United States who made his fortune as the creator of Barstool Sports.
How could Dave Portnoy amass so much money?
Portnoy built his fortune as the founder of the internet sports brand Barstool Sports. He sold portions of Barstool over the course of two exchanges. For the first time, he sold a controlling stake to The Chernin Group in 2016.