Wednesday, 23 July 2014
Last updated 6 hours ago
Jun 30 2011 | 12:11pm ET
David Tepper alerted his Hamptons neighbors that money is no object for him when he demolished the $43.5 million mansion he bought last year. But has the Appaloosa Management founder found a more surreptitious way to parade his wealth?
A customer at East Hampton Village's Capital One Bank branch found an ATM receipt sticking out of the machine showing a whopping $99,864,731.94 balance. And the customer on the evening of June 18 was none other than Tepper, Dealbreaker.com reports.
Tepper, or some other well-heeled Hamptonite, withdrew $400 from the machine, paying a $2.75 fee.
Tepper denied that he is the man with the $100 million savings account balance, telling the New York Post that he "hadn't used an ATM since Lehman" Brothers collapsed, and that he "wasn't in the Hampton in June at all." Plus, "I would never do something as irresponsible as leaving $100 million in a savings account."
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…