David Portnoy who founded Barstool Sports, has once again repurchased ownership of his media company from Penn Entertainment. On Tuesday, the deal was announced but the worth of the deal is not yet revealed. When Penn acquired the remaining portion of Barstool Sports in February, the firm was valued at 606 million dollars, and by 2020, Penn was a minority shareholder.
On Tuesday, Portnoy who founded Barstool Sports in 2003, announced through a post that Penn and Barstool had gone separate ways. The divestiture, according to Penn, was accomplished in return for non-compete and other restrictive covenants. Penn sold Barstool at the same time it announced a partnership with Disney-owned ESPN for online sports betting. The deal was made public as a part of a new 2 billion dollar partnership between ESPN and Penn Entertainment, which would see ESPN Bet take the position of Barstool Sportsbook in 16 states. Here are five things you need to know about the Barstool Sports owner!
ALSO READ: Fact check: Is MrBeast getting sued by a burger brand under his name? All you need to know
Here are 5 things to know about Dave Portnoy
Who is Dave Portnoy?
Blogger, social media star, and also the creator of Barstool Sports David Scott Portnoy is from the United States. He was raised in Massachusetts' Swampscott. He graduated from Swampscott High School and enrolled at the University of Michigan the following year, 1995. Before relocating to Boston and working for an IT market research company, he successfully completed his education degree.
Did Portnoy run for Mayor elections?
Following Menino's resignation in 2013, David made an effort to run for mayor of Boston but he failed. Dave was unable to collect sufficient nomination signatures. He had received over 15,000 dollars in campaign donations, but it wasn't enough to help him become a mayor.
What is the Barstool Fund started by Dave?
Portnoy created The Barstool Fund during the COVID-19 epidemic, which helped small businesses hit by the pandemic and received more than 500,000 dollars in donations. The Barstool Fund saved the day and helped several small companies stay open when it appeared like they might have to shut down. Over the course of less than a year, the campaign raised close to forty million dollars.
What is Portnoy's religion?
Michael and Linda Portnoy, both Jews, were Dave Portnoy's parents. He adheres to Jewish tradition in his private life. When it comes to his political stance, he also describes himself as a libertarian.
Dave Portnoy net worth in 2023
With a net worth of over 120 million dollars, Portnoy is doing fairly well for himself. Since he has bought back Barstool Sports, which is anticipated to grow significantly in the years to come, his net worth may rise as a result.
ALSO READ: Who is Vaibhav Taneja? A closer look at the meteoric rise of Tesla's new CFO