Dave Portnoy Net Worth: How Much Does He Make?

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If you're reading this, we're going to assume that you're a fan of Barstool Sports. And if you are, then you know who Dave Portnoy is. You also know that he is the founder and owner of Barstool Sports.

Putting it together, you'll know why I put together this blog post. Today, I'll discuss Dave Portnoy's net worth and show you how much he makes! 

Who is Dave Portnoy?

Dave Portnoy is the founder of the renowned sports and culture blog Barstool Sports, which has gained a sizable audience over the years.

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He is a tremendously successful businessman and is also known for being extremely confrontational. Nevertheless, he is a media darling since he is not afraid to defy conventional knowledge and speak his ideas.

How much is Dave Portnoy's net worth?

David Portnoy is an American television personality and web entrepreneur. His net worth is estimated at around 80 to 120 million dollars. Barstool Sports is a multi-platform digital sports company that Portnoy founded. 

He parted with bits and parts of Barstool throughout the course of two separate exchanges.

First, in 2016, the Chernin Group acquired the majority of the firm via the acquisition of a controlling stake. Then, in January 2020, Penn Gaming shelled out 163 million dollars to purchase a 36 percent ownership stake in the corporation.

Dave Portnoy biography

Dave Portnoy, the founder of Barstool Sports, is a man of many talents.

He's a noted entrepreneur, loves his cat and dogs, and is known for his comedic chops. You may be wondering, though, how things got this far. That's why I'm here to tell you everything I could find out about Dave Portnoy's biography.

Early life

Born on the 22nd of March in 1977, Dave Portnoy lived and grew up in Swampscott, Massachusetts. In his childhood, he was pretty engaged in baseball and football, two games in which he has always had a profound and persistent passion.

Yet, despite his best efforts, Portnoy insisted on attending the University of Michigan, a school with a long and storied history of sporting accomplishment. 

In 1995, he graduated with honors from the University of Michigan, where he had previously finished his studies.

After graduating from college, he obtained employment as a researcher with the Yankee Group in BostonAfter four years of working for the business, he established Barstool Sports.

Starting Barstool sports

Dave founded Barstool Sports in 2003 to reach the broader Boston region. The newspaper's sports section also contained fantasy sports projections and gaming advertising. 

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Since its inception in 2007, the website has been accessible to everyone using the internet anywhere in the world. According to the organization, the company will emerge as an unexpected leader in the sports media market during the next decade.

Portnoy was well-known for putting in long hours every day and working on weekends and throughout the week. 

Dave is known as "El Presidente" and "Stool Presidente" on the internet. The website features a combination of caustic sports news and photographs of gorgeous ladies.

Some have compared the company's reputation to a combination between ESPN and Girls Gone Wild. 

At first glance, it seems that this combination is working for BarstoolSports, which has grown into one of the most well-known sports blogs accessible on the internet today. 

Portnoy began publishing "One Bite with Davey Pageviews" in 2017, and the channel has already amassed more than one million views.

The filmmakers have an unofficial aim of assessing every pizza business in Manhattan and are making progress toward that objective.

Chernin Group acquisition

It was believed that Peter Chernin's company, The Chernin Group, had bought a majority stake in Barstool for a price ranging between $10 and $15 million in January 2016.

By the end of 2018, Chernin had invested $20–25 million, which brought his stake up to 60 percent of the company. 

Portnoy was in control of every facet of the content creation process for the corporation, and he was responsible for everything. This included anything from podcasts to content about gambling, goods, and even television programs.

Penn National acquisition

Penn National Gaming paid $450 million in January 2020 to purchase a 36% share in Barstool Sports.

The first transaction was a 163 million dollar monetary settlement. Penn National will need to spend an extra $62 million over the following three years to match Penn National's 36 percent ownership stake. 

After the first purchase, the Chernin Group's original stake of 60% in the firm was cut to 36%.

If Penn National pays the extra sum, it will control a majority stake in the firm. Portnoy and a small handful of senior people, including CEO Erika Nardini, hold the remaining 28 percent of the firm. 

The price of each share hit a new all-time high of $38 in the days after the news. Penn's stock plummeted after the end of the global Coronavirus pandemic.

As of the 17th of March, the stock's price per share was hovering around $7. An 81 percent drop from the prior top. 

By the 10th of May, it had regained some of its lost territories and was trading for close to $20 a share. By August, the share price had more than quadrupled, hitting more than $50. By January 2021, the share price had increased to far over $100.

Trading in stocks

Because Portnoy had already amassed a fortune in the nine figures, he decided to go into the realm of day trading.

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According to a tweet by Portnoy on the 23rd of March, 2020, he intends to make day trading his full-time career and will live broadcast all of his deals on Twitter while he is quarantined

After just one week of day trading, Portnoy had already lost over $200,000 on his original investment of $3,000,000. Portnoy told Business Insider on the 17th of April that his losses had totaled $740,000 as of that date. 

Portnoy's day trading will have little to no influence on his overall fortune. However, there is no doubt that it is not only a calming pastime for him but also allows him to interact with his fans on a more intimate level.

Salary of Dave Portnoy

Dave Portnoy's annual salary is not publicly known, but it's safe to say it's a lot.

Not only does he work as the founder and CEO of Barstool Sports, but he also writes for the business, contributing to its widespread popularity

Memorable lines from Dave Portnoy

Dave Portnoy has an interesting personality. He usually speaks in a reserved way to avoid offending anyone listening.

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However, he is also a man of many words, which also means a lot of memorable lines. 

"If you listen to what people's say on social media, you'll never leave your mom's basement."

I've heard many talks lately about how social media isn't perfect for you.

But I'm not sure if that's true.

I mean, it can be hard to stay in your mom's basement if you're constantly reading about how much other people are doing more than you and complaining about your life.

But it also makes me realize that it's okay to be happy where I am right now—and that if I want to change things for the better, then all I have to do is put my brain into action.

So maybe Dave Portnoy is correct: perhaps we should listen more closely to what people say on social media—especially those who are successful in their fields—and try to learn from them instead of feeling jealous or depressed.

The takeaway

So, there you have it. Dave Portnoy has made millions by being himself and doing what he loves—and you can do the same. You must follow your passion, work hard, and never stop trying new things.

Dave Portnoy is one of the most popular sports personalities in the country. With a net worth of at least $80 million, he can live a comfortable life without working day and night. 

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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