It has been a trending topic on the internet that who is Dave Portnoy?. David is a sports media personality (Barstool Sports) and American businessman. After the Barstool Sports stocks went high in recent days, people were searching about How much is Dave Portnoy net worth? David Portnoy net worth is $120 million.
He has earned his fortune by being the founder of a digital sports conglomerate Barstool Sports. David founded Barstool Sports in 2003 as the print publication.
Early Life And Career Of David Portnoy
David was born in March 1977. He is the son of Linda and Michael. Portnoy graduated from the University of Michigan in 1999 with a degree. After that, he moved to Boston, where David worked for the IT market research company. In 2003, David founded Barstool Sports as the print publications, sports coverage, and gaming ads. Barstool website was launch in 2007. In the early days, David was known to put in ten hours a day on the website while working on Saturday and Sunday.
On the website, Portnoy goes by the title Stool Presidente or El Presidente. This website is a mix of attractive women and snarky sports coverage. The Barstool has been describe as the mixture between Girls Gone Wild and ESPN. This combination works well, as it is currently one of the most famous sports sites on the internet.
After that, David launched the pizza review series known as One Bite with Davey Pageviews in 2017. The unofficial of this show is to review every pizza store in Manhattan. Dave was married from 2009 to 2017. Dave Portnoy’s wife’s name was Tenne Satterthwaite.
It was reported in January 2016 that The Chernin Group has acquired the majority stake in Barstool for $10 to $15 million. Chernin invested $20 to $25 million to increase the stake to 60%. Though, David remains 100% in control of the company’s content that eventually includes gambling content, podcasts, merchandise, TV shows, alcohol brands, and many more.
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Penn National Acquisition
Penn National Gaming took a 36 percent share in Barstool Sports at the estimate of $450 million in January 2020. The total amount of money transacted will be $163 million. The Penn National Gaming has the ability to pay the additional amount of $62 million in 3 years to bring the stake up to 50%. After the deal was closed, the Chernin Group’s 60% stake has reduced to 36%, as Penn National’s stake. Moreover, David and few other executives still own the remaining 28% stake.
In the days immediately after the announcement, shares jumped to $38 per share. Sadly, in the Worldwide Coronavirus outbreak, Penn National’s stock plunged, and by March 17, the stock has gone to $7 a share.
However, by May 10, the stock has risen up around $20 per share, and by January 2021, the stock has gone over $100 per share.
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Favorite Quotes Of Dave Portnoy
“We really want Barstool Sports to be a brand that means something. It doesn’t just have to be myself… you see the logo, that bar stool and the stars around it, and you know you’re getting a certain type of vibe, a certain type of brand.” – Dave Portnoy
“Everything related to the NFL, we’re banned from. Whether it be Media Day, whether it be even doing negotiations for TV shows, everybody’s afraid of the NFL in their relation to us because they know they don’t like us.” – Dave Portnoy.
“We have this fanatical fan base that wants to see us succeed, and so they get it. They get that to get the free content and all of the things we’re doing – whether it be the blog, the podcasts, whatever – we need money. We need advertising. If you want us to go hire Michael Rapaport, well guess what, we need revenue to do that.” – Dave Portnoy.
“The fact that Manti Te’o thought for a long time that he was dating, like, a fake girl and then that she died and did the tribute and the girl never existed. I mean inherently that’s funny.” – Dave Portnoy.
“There is always a line that can’t be crossed. Anything that is said or written from a place of hate will never be acceptable behavior at Barstool.” – Dave Portnoy.
“I feel like I see more and more Neapolitan style, that I call ‘fancy pizza’ – that’s not my cup of tea; I think it all tastes the same.” – Dave Portnoy.
Dave is a blogger, entrepreneur, and founder of online sports Barstool Sports. Portnoy has been nicknamed El Pres and El Presidente throughout his career. As of 2021, David Portnoy net worth is around $120 million.
|David Portnoy Net Worth:||$120 million|
|Date Of Birth:||March 22, 1977 (44 years)|
|Height:||6ft 2in (1.88 m)|
|Nationality:||United States of America|