David Tepper
Net worth: ~$24B (Forbes, Aug 2026 estimate)
Who they are
David Tepper founded Appaloza Management in 1993 in New York and has served as its CEO since. The firm manages roughly $50 billion in assets and is best known for its distressed-debt and special-situations investing, with a track record of some of the largest returns in credit history, including its 2008–2009 recovery trades. Before Appaloza, Tepper led the distressed-debt team at Paulson & Co.
Why they matter
Tepper is one of the most successful investors of the last two decades and a defining figure in distressed credit. His ability to find value in stressed situations and his willingness to take concentrated, high-conviction positions make him a reference point for the whole alternative-investing world.
The AI angle
Appaloza does not have a prominent public AI-investment program, and its edge has traditionally been deep fundamental credit analysis. For AI strategists, the relevant angle is how firms like Appaloza use AI to augment credit monitoring, portfolio risk, and deal sourcing at scale rather than to build AI products.
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