Portnoy was born David Scott Portnoy on March 22, 1977. He is an American internet star and blogger who founded the sports and pop culture site Barstool Sports. As the creator of the internet sports giant Barstool Sports, Portnoy built his fortune.
In two different transactions, he sold a Barstool portion. To The Chernin Group, for the first time, he sold a majority stake in its business For $163 million in January 2020, Penn Gaming bought out 36 percent of the company’s founders’ equity in Penn Gaming. The impact of these deals on Portnoy’s fortune will be addressed in greater detail later in this essay.
David Portnoy was born on March 22nd, 1977, in Swampscott, Massachusetts. To further his studies, he attended the University of Michigan and graduated in 1999 with a bachelor’s degree in education.
He worked at Yankee Group in Boston after graduating from college and moving there afterward.
David Portnoy’s Net Worth
Sportscaster and internet entrepreneur David Portnoy has an estimated net worth of $80 million. A digital sports company called Barstool Sports was founded by Portnoy. In two separate transactions, he sold off Barstool. It was to The Chernin Group that he first sold a majority stake in 2016, and that was his second sale. Penn Gaming paid $163 million in January 2020 to buy the founders’ remaining 36% interest. Later in this piece, we’ll discuss these trades and their effect on Portnoy’s net worth.
They were married for eight years, from 2009 until 2017, before Renee and David Satherthwait called it quits. When Portnoy and his ex-wife divorced, rumors say he started seeing Jordyn Hamilton. After just a few months of dating, the couple broke up.
The 26-year-old model, social media celebrity, and accountant Silvana Mojica is reportedly dating David according to reports.
One of his humanitarian projects is The Barstool Fund, which he created. In 2020, Portnoy donated $500,000 to The Barstool Fund, which aided small businesses afflicted by the COVID-19 pandemic, at its peak.
By the year 2022, the campaign had raised more than $39 million for 348 different businesses through donations.
Dave donated $20,000 to Penn State’s annual IFC/Panhellenic Dance Marathon in 2019, which raises money for pediatric cancer research and treatment, as well as money for animal welfare and Veterans Day after the Boston Marathon bombings.
In 2003, Dave launched Barstool Sports as a print journal serving the greater Boston area. Fantasy sports forecasts, gaming marketing, and sports coverage were all available in the newspaper. The website went up in 2007 and has been updated regularly since then. Barstool would become an improbable sports media behemoth in the next decade. Early on, Portnoy was known to consistently put in 10+ hour days, while also working on both Saturday and Sunday.
Dave is referred to as “El Presidente” or “Stool Presidente” on the website where he works. Sports snark and stunning women are mixed together on this site. ESPN and Girls Gone Wild may be the best comparisons for the brand. Because BarstoolSports is now one of the most visited sports websites, this strategy must be working.
“One Bite with Davey Pageviews” was created by Portnoy in 2017 as a pizza review series. Reviewing each and every pizza joint in Manhattan is the show’s unofficial mission.
Holdings in The Stock Market
Approximately $23 million of the $163 million in cash was given as convertible preferred stock, and $3 million was set aside as “forward arrangements,” according to a Penn Gaming 10-Q SEC filing for the first quarter of 2020. There are about 883,000 shares of Penn Gaming that can be converted into convertible stock.
A market capitalization of $16 billion is Penn Gamings at this time. This means that a 0.5 percent investment would be worth $80 million. Dave apparently holds a third of the investment, which works out to about $26 million. With his remaining $90 million interests in Barstool and the fortune he’s accrued via past deals, we estimate Dave Portnoy’s net worth at $120 million.
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