The internet mogul and prominent personality in American sports media, David Portnoy is worth $100 million. Portnoy made his wealth as the creator of the dominant digital sports company, Barstool Sports. Over the course of many contracts, David sold some of Barstool, with the last one taking place in August 2022.
In 2016, he first sold The Chernin Group the majority of his holdings. For $163 million in January 2020, Penn Gaming purchased a 36% share from the founding members. A future option to buy the entire business was included with this acquisition. Penn Gaming invoked that choice in August 2022, paying $390 million for the outright purchase of Barstool.
Penn Gaming spent $550 million to acquire the whole Barstool business. Further in this content, we will talk more about these trades and how they affected Portnoy’s wealth.
Swampscott, Massachusetts is David Portnoy’s birth place. He continued his study after leaving Swampscott High School and earned his education degree from the Michigan State University in 1999. After graduating, Dave moved to Boston where he resumed work with an Information Tech firm.
See Also: Dave Jacobs, The Superhuman Athlete
Barstool Sports was launched as a print magazine for the city residents. The newspaper featured sports journalism, gaming advertisements, and fantasy sports forecasts.
The site became up in 2007. In the ensuing ten years, Barstool would develop into an unexpected force in the sports media. In the early days of the site, Portnoy was well-known for working regular 10-plus-hour days and continuing to work on weekends and holidays.
Dave is known online as “Stool Presidente” or “El Presidente”. The website is one of the most well-liked sports websites on the internet right now, because of its effective combo.
Dave Portnoy Net Worth 2022
In 2022, the online businessman and sports networks star David Portnoy was estimated to be worth $100 million. Portnoy became wealthy after founding Barstool Sports, a dominant force in the internet sports industry.
Dave Portnoy Career
Entrepreneur, blogger, and brain behind the online sports publication Barstool Sports is Dave Portnoy. Throughout his professional life, he has gone by the moniker” El Pres” and “El Presidente”, and during his university years, he earned a degree in education.
Portnoy disclosed that the Chernin Group had acquired the majority of Barstool’s stock and that the company would be relocating its headquarters to New York City in 2016. The year after that, he began this pizza show – “One Bite with Davey Pageviews.” The series aims to evaluate each pizza joint in Manhattan.
For over $160 million in 2020, Penn National Gaming secured a share in Barstool Sports aprox 36%. The Chernin Group still owned 36% of the company after the sale. He spent a portion of Super Bowl LIII in a holding area at Mercedes-Benz Stadium. After making fictitious passes to attend a press conference the day before, Portnoy was forbidden from going to the game.
Dave Portnoy Net Worth 2023
Dave Portnoy’s net worth was approximately $120 million as of February 2023. American businessman and prominent figure in the sports media Dave Portnoy made his wealth as the creator of Barstool Sports. In 2003, he started Barstool Sports as a print magazine.
The business would develop over time into a surprising force in sports media.