American investor David Tepper—owner of the Carolina Panthers and founder of the hedge fund Appaloosa Management—made headlines in 2010 after purchasing the Hamptons mansion of his former boss at Goldman Sachs, Jon Corzine, for $43.5 million… and then demolishing it a year later to build a bigger one on the same site.
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Back in 1989, after helping Goldman Sachs recover from the market crash, Tepper was passed over for a promotion to partnership by then-CEO Jon Corzine.
Tepper later left the bank and founded Appaloosa Management, which grew into one of the most prominent hedge funds in the industry.
The purchased Hamptons mansion was about 6,165 square feet in size. The following year, it was torn down and replaced with a new residence measuring over 11,200 square feet, featuring ocean views, a swimming pool, and a tennis court.
The construction project took about four years and attracted significant media attention. When asked in 2010 if the move was an act of “revenge,” Tepper told New York Magazine:
“You can interpret it that way… Let’s just say, there’s a little justice in the world.”
