David Scott Portnoy (born March 22, 1977) is an American businessman and social media personality. He is the founder and owner of the sports and popular culture company Barstool Sports. Behind Barstool Sports’ booming success, Portnoy’s journey from Massachusetts to the limelight is a tale of tenacity, intuition, and controversy.
RELATED: Bert Kreischer Net Worth: How Much is Bert Kreischer Worth?
Table of Contents
Dave Portnoy Net Worth
Dave Portnoy has a net worth of $150 million. In 2016, he sold a majority stake in Barstool Sports to The Chernin Group. In January 2020, Penn Gaming acquired a 36% stake for $163 million with an option to buy the entire company later.
In August 2022, Penn Gaming exercised this option, buying Barstool outright for a valuation of $390 million. In total, Penn Gaming paid $550 million to acquire Barstool Sports.
Early Life
David Portnoy grew up in Swampscott, Massachusetts, the son of Michael, a lawyer, and Linda, a high school teacher. He is Jewish. Portnoy attended Swampscott High School alongside ESPN‘s Todd McShay.
He graduated from the University of Michigan with a degree in education. While at Michigan, Portnoy founded thegamblingman.com, a website where he shared his sports betting picks.
Career
After college, David Portnoy moved to Boston and worked at Yankee Group, an IT market research firm. In 2004, he left to found Barstool Sports, initially a four-page sports newspaper distributed in Boston. The paper, written mostly by Portnoy, targeted young men and gained traction by featuring women in bikinis.
In 2007, Barstool transitioned to a blog, becoming a staple of bro culture. In 2016, Peter Chernin‘s The Chernin Group acquired a majority stake, and in 2020, Penn Entertainment bought a 36% stake for $163 million. Portnoy repurchased Barstool in August 2023 for one dollar.
Personal life
Dave Portnoy was married to Renee Satherthwaite from 2009 to 2017 and began dating Silvana Mojica in 2021. In December 2019, a sex tape of Portnoy leaked.
Business Insider twice alleged sexual misconduct against him, which he denied. Portnoy sued the publication, but in November 2022, a federal judge dismissed the lawsuit. He filed an appeal but dropped it in February 2023.
Who is CEO of Barstool?
Erika Ayers Badan is a sports executive, public speaker, and podcast host. She is known for being the first CEO of Barstool Sports. She graduated from Colby College and has two children.
Conclusion
Dave Portnoy’s journey, from the streets of Massachusetts to the pinnacle of media success, serves as an inspiring tale of innovation, risk-taking, and resilience. His net worth and influence stand as a testament to his trailblazing approach in the ever-evolving world of media.
RELATED: Chris Brown Net Worth: A Deep Dive into His Financial Journey
FAQs about Dave Portnoy Net Worth
- What was Dave Portnoy’s first venture into entrepreneurship? His initial venture was thegamblingman.com during his university days.
- Where did Dave Portnoy receive his education? He studied at Swampscott High School, followed by the University of Michigan.
- How did Barstool Sports start? It began as a sports newspaper that Dave distributed on Boston’s streets.
- Has Dave Portnoy faced any public controversies? Yes, a notable instance is the leaked tape with Instagram model Sydney Raines.
- What has been a key factor in Dave Portnoy’s success? His ability to understand and adapt to audience preferences while challenging media norms has been pivotal.
