David Portnoy is an internet entrepreneur and prominent personality in American sports media, worth $100 million. Portnoy acquired his riches by founding Barstool Sports, the industry leader in digital sports. Throughout many transactions, David sold some of the Barstool, with the last one taking place in August 2022. For $163 million in January 2020, Penn Gaming purchased a 36% share from the founders. Penn Gaming exercised that option in August 2022, paying $390 million for the outright purchase of Barstool. Penn Gaming spent $550 million to acquire the entirety of Barstool.
Facts about Dave Portnoy:
|Full Name||David Portnoy|
|Birth Date||22 March 1977|
|Birth Place||Swampscott, Massachusetts, United States|
|Nick Name||El Presidente|
|Father’s Name||Michael Portony|
|Mother’s Name||Linda Portony|
|Height||6 feet 2 inches|
|Profession||internet celebrity, blogger, and founder of the sports and pop culture blog Barstool Sports.|
|Wife/Husband/Boyfriend/Girlfriend (Name)||Silvana Mojica|
|Net Worth||$100 million|
Dave Portnoy’s girlfriend:
Barstool Sports founder Dave Portnoy recently began dating Silvana Mojica. The social media sensation recently said that he and his Colombian sweetheart had been spending a lot of time together lately. Dave’s girlfriend, Silvana Mojica, is a professional model. Her LinkedIn page suggests that she is now in her twenties. As a social media marketing assistant, she works for Miami-based clothing and fashion company. Mojica formerly held jobs in Atlanta and Orlando. Portnoy and Mojica originally started dating in March of last year.
Dave Portnoy Early Life
Portnoy David Portnoy was born on March 22, 1977, in Swampscott, Massachusetts.
Dave Portnoy’s Career
In 2003, Dave started Barstool Sports as a print magazine for the Boston metropolitan area. The newspaper featured sports journalism, gaming advertisements, and fantasy sports predictions. The site became up in 2007. In the site’s early days, Portnoy was well-known for working regular 10-plus-hour days and continuing to work on Saturdays and Sundays. Dave is known online as “El Presidente” or “Stool Presidente.” The website features both hot women and caustic sports news.
The company’s image has been compared to “ESPN and Girls Gone Wild.” As one of the most popular sports websites on the Internet, BarstoolSports, this combination appears effective. In 2017, Portnoy began a pizza review series called “One Bite with Davey Pageviews.” The unspoken goal of the programme is to rate every pizzeria in Manhattan. The Chernin Group, owned by Peter Chernin, reportedly paid $10 to $15 million for a majority stake in Barstool in January 2016. Chernin increased his interest to 60% by investing $20–$25 million by the end of 2018. Portnoy maintained complete ownership of the company’s material, which eventually encompassed TV series, souvenirs, gambling-related content, podcasts, and more.
The initial cash transactions totalled $163 million. Penn National also bought the pay later option. Other details: The Chernin Group’s 60% interest was immediately cut to 36%, matching Penn National’s holding, once this original acquisition concluded. Portnoy and a few other influential business leaders, including CEO Erika Nardini, continued to possess the remaining 28%. Shares of Penn Gaming soared to an all-time high of $38 in the days following the announcement. Penn’s shares fell during the global Coronavirus outbreak. By March 17, the stock had dropped 81% from its high of $7 per share. By May 10, it had surged to around $20 per share. Next, by August, it had more than doubled to almost $50 per share. By January 2021, the price per share has increased to nearly $100. Shares rose to $130.
According to a Penn Gaming Q1 2020 10-Q SEC filing, approximately $23 million of the $163 million in cash was awarded as convertible preferred stock, and $3 million was set aside for “forward arrangements.”. The convertible stock might ultimately be converted into 883,000 Penn Gaming shares or around 0.50% of Penn Gaming’s market capitalization. A 0.50% investment in Penn Gaming was worth $50 million when its market capitalization was $10 billion. According to reports, Dave controlled a third of that investment, which, using the example of a $10 billion valuation, came to about $16 million. We calculate Dave Portnoy’s net worth at $100 million, including his roughly $90 million remaining ownership in Barstool plus money from prior business dealings.
Dave Portnoy’s Family Background
Michael and Linda (née Kaufman) gave birth to him. Portnoy attended Swampscott High School in Swampscott, Massachusetts, where he was raised. One of his students was Todd McShay from ESPN. Portnoy is a Jew.
Dave Portnoy’s relationship status
From 2009 to 2017, Portnoy was wed to Renee Satterthwaite.
Dave Portnoy’s Background in Education
After leaving Swampscott High School, he continued his study and earned his degree from the University of Michigan in 1999. He relocated to Boston upon graduation and began working for Yankee Group, a business that conducts IT market research.
Dave Portnoy’s net worth is?
Dave Portnoy has a $100 million net worth.
\What was Dave Portnoy’s annual salary?
According to reports, Dave controlled a third of that investment, which, using the example of a $10 billion valuation, came to about $16 million. We calculate Dave Portnoy’s net worth at $100 million, including his roughly $90 million remaining ownership in Barstool plus money from prior business dealings.
Dave Portnoy owns what?
In 2003, Dave established Barstool Sports. A sports magazine was issued in the Boston region when the company started. Despite this, Dave built the company website in 2007 as the internet expanded. The website grew into a major media centre during the next ten years.
How much did Dave sell for a barstool?
Penn Entertainment is taking complete control of Barstool Sports as part of a $387 million agreement. In 2020, Penn Entertainment, which changed its name from Penn National Gaming earlier in the month, paid $163 million for 36% of the digital media company.
What caused Renee and Dave to split up?
She was previously known as Renee Satterthwaite and is frequently referred to as the “First Lady of Barstool Nation.” But the pair broke up in 2017 after news outlets revealed Dave’s adulterous relationship with Jordyn Hamilton.