World's highest-paid hedge fund manager worth $10 billion 'splits from his wife of 28 years'
- David Tepper, 56, and his wife Marlene, 55, have separated after telling friends that their marriage 'has run its course', sources said
- The couple has not yet formally filed for divorce
- Tepper, a hedge fund manager and philanthropist, took home $3.5 billion in 2013 alone - making way for costly divorce proceedings
- The couple married in 1986 and have three children in their 20s
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The world's highest-paid hedge fund manager - who is worth an estimated $10 billion - has split from his wife, friends have revealed.
David Tepper, 56, and his wife, Marlene, 55, have not yet formally filed for divorce but have separated and are telling friends that the marriage 'has run its course', a source told PageSix.
'They hope to settle things quickly, quietly and amicably,' the source said.
The head of $20 billion Appaloosa Management is worth an estimated $10 billion and made $3.5 billion in 2013 alone - meaning that divorce proceedings could reach eye-watering sums.
Split: Billionaire hedge fund manager David Tepper and his wife Marlene are divorcing, according to sources
Forbes lists him as the 129th richest person in the world.
The Teppers, who married in 1986, have three children in their 20s, Brian, Randi, and Casey. They share a mansion in Livingston, New Jersey and a $43.5 million oceanfront estate in the Hamptons.
As well as running his company in Short Hills, New Jersey, Tepper, who grew up in Pittsburgh, Pennsylvania, is a minority owner of the Pittsburgh Steelers.
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ShareTepper worked as a trader at Goldman Sachs for eight years but left to start up his own hedge fund, Appaloosa Management, in 1992 after repeatedly being passed over for partnership.
In 2009, he made a trade that netted his company $7.5 billion and gave him a payout of nearly $4 billion.
'What do you think I should do with it?' he asked New York Magazine afterwards. 'I could buy an island. I could buy a private jet... I could get myself a 22-year-old!'
Family: The Teppers have three children in their 20s, Brian, Randi, and Casey, who grew up in New Jersey
Close: Brian pictured with Randi. The family hired Ashlee Simpson to sing at one of the girls' bat mitzvahs
In 2012, he was ranked as the top-earning investor and was paid $4.4 billion. In 2013, he took home $3.5 billion.
'His track record has long been phenomenal,' Forbes reported in its rich list. 'But since the financial crisis his returns have reached a whole new level.'
In 2011, he bought a $43.5 million Hamptons estate from Joanne Corzine, the ex-wife of his former Goldman boss, Jon Corzine.
At the time, it was reported that Tepper was irked that he couldn't see the ocean from every room of the sprawling 6,165 square foot estate, so he decided to build another one from the ground up.
'I'm ready to be rich,' he said at the time.
But he's also happy to share his wealth. Last year, he gave $67 million to his alma mater Carnegie Mellon University, adding to the $55 million he gave in 2004, Forbes reported.
Mansion: Tepper and his wife Marlene share this large home in Livingston, New Jersey
Massive: The family also owns this oceanfront estate in the Hamptons. Tepper bought a $43.5m mansion and knocked it down to make way for this home, which is twice the size of the original property
He has also made several large gifts to the University of Pittsburgh, where he completed his undergraduate education.
His wife is a member of the board of overseers at Rutgers University, where the couple also donated $3.4 million to the Mason Gross School of the Arts.
The Teppers were spotted together in May at a charity dinner for the Robin Hood Foundation. Tepper is also a major donor to that foundation.
And after Hurricane Sandy, Tepper donated $200,000 in gift cards to New Jersey families who had suffered loss in the storm.
His spokesman declined to comment.
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