David Tepper Charity
David Tepper Seeks to Raise $15 Million to Feed Homeless
“There’s nothing more important than feeding people,” Mr. Tepper told a sizable audience gathered in the organization’s 285,000-square-foot warehouse, where walls of fresh apples, canned fruit and chili served as a backdrop. “It’s pretty simple. In 2006 and 2007, unemployment was around 4 percent. Now, we’re closer to 9 percent.”
It’s safe to say Mr. Tepper, founder of the $15 billion Appaloosa Management, has some change to spare. His $3.5 billion Thoroughbred Fund returned 22 percent last year for investors, after a 100 percent return in 2009.
He’s also encouraged other prominent hedge funds in New Jersey to contribute to the food bank, which Mr. Tepper has supported since 2006.
“It’s a very simple and direct way to fill a serious need,” said Martin Gross, founder of Sandalwood Securities, a fund of funds. “It has a charming simplicity to it from a philanthropic point of view.” Source