Dave Portnoy is an entrepreneur and media personality with an estimated net worth of $120 million as of 2021. His path to wealth came though founding Barstool Sports, a digital media business that produces content for sports betting fans. Dave now has millions of fans across Instagram, Twitter and TikTok who get the benefit of his free betting tips and wacky sense of humour.
Dave Portnoy was born in the small town of Swampscott Massachusetts on March 22, 1977. He discovered a love for sports early in life and played baseball and football in high school. Although his love for the games continued at the University of Michigan, he decided not to play. He graduated from college in 1995 with a degree in education. Dave worked 4 years at a technology firm in Boston called the Yankee Group before leaving to found Barstool Sports. This was the turning point in his young life.
How He Made His Money
It was the beginning of a dream for a struggling young man wanting to make a difference with his life and in the lives of others. In 2003 he began noticing that there was nothing to help him analyze fantasy sports betting. Dave wanted to give people a better look at sports betting from an analyst’s point of view. He started with a few childhood friends and began writing articles for a Boston newspaper that offered fantasy sports betting. The writers worked under fictitious names to make the paper look larger than life. He also did sports advertising with local bars and gambling casinos.
Slowly, Barstool Sports became an established brand in the Boston area. The company’s big break came in 2007, when Dave Portnoy decided to use the power of social media to advertise his company. Dave Portnoy brought the company online and his traffic exploded. Barstool Sports received national press coverage and Dave’s dream began to become a reality. In January 2016, Dave sold 51% of his company to The Chernin Group for $10 – $15 million. In January 2020, he sold 36% of his company to Penn National Gaming for $163 million. It was during this time that Barstool Sports held a company valuation of $450 million.
Portnoy was married to Renee Satherthwaite for 8 years and got divorced in 2017. Portnoy is currently dating Colombian model Silvana Mojica. The couple have been together since March 2021.
Around March 2020, Dave Portnoy started day trading on his live stream via Twitter. Given his impressive wealth, Portnoy can play around with a few million in the stock market. He’s also interested in cryptocurrencies, in the past he has purchased some Bitcoin and Safemoon.