Tepper, Wife To Divorce

Jun 10 2014 | 10:03am ET

Appaloosa Management founder David Tepper and his wife of nearly three decades have called it quits.

Tepper has separated from his wife, Marlene, the New York Post reports. The split is likely to prove costly, even if both sides hope, as a Post source said, to “settle things quickly, quietly and amicably”: Tepper is worth an estimated $10 billion, and is routinely the highest-paid hedge fund manager in the world.

“They have separated and are telling friends the marriage has run its course,” the Post’s source said.

The Teppers have not yet formally filed for divorce. The couple married in 1986 and have three adult children.

In addition to their billions, the Teppers own homes in Livingston, N.J., and Sagaponack, N.Y. Tepper paid $43.5 million for the latter—formerly owned by former Goldman Sachs CEO and New Jersey governor Jon Corzine, who passed Tepper over for a Goldman partnership—only to demolish it to build a home twice its size. Tepper also owns a minority stake in football’s Pittsburgh Steelers, his favorite team.

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