American multimillionaire and founder of Barstool Sports, Dave Portnoy has divided the audience right from the start of his career. The Twitter celeb and blogger has been hugely criticized for the type of content that his site publishes.
He has been accused of promoting sexual harassment towards women and misogyny. Initially beginning as a 9-5 worker in an IT firm he later quit and founded Barstool Sports. The company would be valued at $450 million in 2020.
What Is The Net Worth Of Dave Portnoy?
Dave Portnoy established Barstool Sports in 2003 as print media, but later the publication expanded online. As of February 2020, Portnoy is worth $100 million, the majority of which is thanks to his company and website.
After establishing the company, he worked as the owner and CEO earning millions in the process until January 7, 2016, when The Chernin Group acquired the majority share of the company.
Then he would still be involved with the company as the chief of content, a position he still holds.
How Did Dave Portnoy Earn Millions?
At the initial stages of his career, Portnoy was employed at an IT marketing firm. He was not fully satisfied with his job and left after four years to establish Barstool Sports in 2003.
The company only distributed printed material in the Boston area, but later grew into an online sports media giant. He made gave his company his all, as a matter of fact, he stayed 10+ hours a day and worked the whole weekend.
In 2007, the company established its website, growing its potential audience by millions.
The site then rapidly grew, which caught the attention of the Chernin group who acquired the majority stake in the company for $10 million to $15 million.
The Chernin Group increased its stake to 60% after investing $20 million to $25 million.
The site’s popularity skyrocketed in 2017 after Pat McAfee and Michael Rapaport joined the company to present podcasts.
How Much Revenue Does The Company Generate?
The $450 million valued company generated over $15 million in 2018. The company’s revenue skyrocketed in 2019 and generated somewhere in the range of $90 million and $100 million.
The company also is the 6th largest U.S. podcast publisher with more than 6.75 million listeners in July 2019.
House And Car Of David Portnoy
David Portnoy aka El Presidente’s residence is a $2 million house in Nantucket that he bought in November 2015.
The cottage-like abode is huge in size and as a pool with stones surrounding it. The property is called Path’s End and boasts a stone patio. All of this is spread over an acre of land.
Additionally, he has a classic Ford truck which may have cost him thousands of dollars.
Charity And Philanthropy
Barstool chief of content Dave has done a lot of charity right from the start of the company. The IFC/Panhellenic Dance Marathon received $20,000 from him. Similarly, his company has also actively given to those in need.
Barstool raised and donated $240,000 to the victims of the Boston Marathon Bombings. In a similar fashion, he also raised $91,000 to help war vets suffering from mental illness and their families.
Controversies Surrounding Content On Barstool And Anti-Union Stance
Barstool provides content that is raw and, in most part, comedic on its various platforms. While some find the content, humorous there have been a large number of critics of the content calling it misogynistic.
Feminists, in particular, have criticized the website for sexualizing women and promoting sexual harassment.
Michael Rapaport once made a derogatory comment towards the audience and fans of the website which got him fired.
In addition to this, he also made his anti-union stance public by threatening to fire his employees to fire them if they ever unionized.
Threatening the employees like this is a federal offence, and even the Congresswoman Alexandra Ocasio-Cortez got into a Twitter war with him.
He even was in a feud with the National Labor Relations Board which he later settled.
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Dave Portnoy was born David Portnoy on March 22, 1977, in Swampscott, Massachusetts, USA.
He went to Swampscott High School and joined the University of Michigan in 1995. He graduated with an education degree.
The entrepreneur was seen with a girl named Claire Jacobs a few times, but the pair did not confirm or deny the rumors of their relationship.
Before this, he was married to Renee Satterthwaite. He married her in 2009 and divorced her in January 2017.