Barstool Sports President Dave Portnoy is a Michigan Wolverines fan and is in the business of bringing several American sports, especially football, in a slightly different way than conventional media houses.
Over the past two decades, he has built a significant net worth, beginning from a small Boston sports newsletter to a nationally known digital brand. According to Celebrity Net Worth, Portnoy is worth $250 million.
Portnoy’s biggest source of investment and return is Barstool Sports. He launched it in 2003 and was being sold in Boston sublets. At that time, its major focus was on fantasy sports, gambling tips, and provocative humor. Over the course of time, he brought new avenues into the platform, including blogs, podcasts, and video content.
After 13 years, his investment in Barstool Sports earned him a return when Portnoy sold a majority stake in 2016 to The Chernin Group. Four years later, Penn Gaming bought 36% stake for $163 million. This acquisition took Portnoy’s networth over $100 million. Finally, in August 2022, Penn Gaming purchased the whole company for a valuation of $390 million.
Interestingly, in August 2023, Penn Gaming sold the whole of the company back to Dave Portnoy for just $1.00 but reserved the right to half of the proceeds if Portnoy ever decides to sell the company again. Penn’s CEO said:
“The divestiture allows Barstool to return to its roots of providing unique and authentic content to its loyal audience without the restrictions associated with a publicly traded, licensed gaming company.”
Where Did Dave Portnoy Go To College?
Before becoming a big name in the sports media industry, Dave Portney graduated in 1999 from the University of Michigan with a degree in education. During his time in Ann Arbor, he launched a website named thegamblingman.com, where he published his sports betting picks before going on to found Barstool Sports after college.
On the personal front, Portnoy was previously married to Renee Satherthwaite. Their relationship existed between 2009 and 2017. In 2021, he dated Silvana Mojica.
Apart from his earnings through Barstool Sports, Portnoy has also made significant real estate investments worth around $95 million, including homes at Massachusetts, New York, and Florida.
Read More News:
Bengals Legend Chad Johnson Claims Lions Fan’s Racial Slur At DK Metcalf Caused Sideline Altercation
Analyst Fuels Shedeur Sanders Trade Rumors As Multiple Big Ten QBs Catch Browns’ Attention
College Sports Network has you covered with the latest news, analysis, insights, and trending stories in college football, men’s college basketball, women’s college basketball, and college baseball!
