David Portnoy is a famous American internet entrepreneur and sports figure. He is widely known for creating a digital sport named Barstool Sports. As of this writing, David Portnoy has an approximated net worth of $100 million, thanks to his business career.
On 22 March 1977, David was born to Jewish parents Michael Portnoy and Linda in Swampscott, Massachusetts, United States of America. He was raised in his hometown. However, his father was blind.
David joined Swampscott High School. After that, he completed his graduation at the University of Michigan in education.
Biography of David Portnoy
|Full Name||David Scott Portnoy|
|Professional Name||David Portnoy|
|Date of Birth||22 March 1977|
|Place of Birth||Swampscott, Massachusetts, US|
|Height||6 feet 0 inch|
|Ex-Wife Name||Renee Satherthwaite|
|Net Worth||$100 million|
After graduation, David Portnoy worked in an IT research company named Yankee Group. In 2003, he founded the digital sports company named Barstool Sports. The company predicted sports coverage and gaming ads.
Besides, the gaming website was published in 2007. Barstool grew like a media powerhouse over the last 10 years. Once upon a time, David worked like crazy on the site. Almost 10 hours a day, including Holidays.
David is also known as El Presidente. The site has attractive women and sports coverage. Now the site is one of the most famous sports sites. In 2016, the Chernin Group purchased the majority stake from the founder of Barstool. After a while, he took around 60% stake in the site.
But David is controlling 100% of Barstool. He controlled all the game advertisements, gambling, merchandising, podcast, and many more.
However, Penn National Gaming purchased a 36% stake in Barstool. He paid for a 50% stake within three years. After closing the deals, The Chernin Group’s share was reduced from 60% to 36%. David and some of the CEOs owned the rest of the 28%.
During the COVID-19 pandemic, Penn’s National’s stock slid to 7 dollars per share. So, it reduced 81% from its peak. After a while, the value has increased by $20 per share. A couple of months later, it became over 100 dollars per share.
David Portnoy net worth
David Portnoy has an estimated net worth of $100 million. The Chernin Group bought a 36% stake of Barstool Sports from the founders with 163 million dollars. Moreover, David got 128 million dollars in cash.
David owned one-third stake of the Barstool. Which means it was 16 million. The remaining 60 million would combine with 16 million. So, it seems David Portnoy’s estimated net worth is 100 million.
Anyway, we have provided an estimated net worth by combining all payments David Portnoy earned throughout his career.
How does David Portnoy make money?
David Portnoy makes most of his money through digital sports. Besides, he has millions of fans and followers on the internet and social media platforms. Anyway, from social media, he made more than 100 thousand dollars.
In 2016, The Chernin group reportedly bought the majority stake of Barstool with 15 million dollars. However, the company paid 25 million dollars to increase its stake to 60%. But in 2020, Penn National Gaming purchased a 36% stake with 450 million dollars. However, he paid 128 million dollars in cash.
Within the next three years, Penn Gaming paid around 62 million dollars to increase its stake to 50%. After a while, The Chernin Group’s stake was reduced to 36%, which was equal to Penn Gaming.
According to IMDb, David appeared in many television shows. For a single episode, he got around $10 thousand. As it seems, he made more than 5 million dollars in total by appearing in several television shows.
Some of the television show names and episodes are given below to understand better at a glance:
|Name of the Television shows||Episodes|
|The Dave Portnoy Show with Eddie & Co||45|
|Tucker Carlson Tonight||31|
|The Barstool College Football Show||5|
|The Barstool Rundown||4|
In 2009, David Portnoy married Renee Satherthwaite. But in 2017, they decided to separate from each other. Also, he is Jewish.
What is David Portnoy doing now?
During the COVID-19, David donated 500 thousand dollars to the Barstool fund to support small businesses. It covers the impact of the pandemic. However, the fund was raised to 39 million dollars, which helps more than 348 small businesses.
Besides, David is currently focusing on his business in the Barstool site. So, stay tuned because more surprises are coming soon.