Dave Portnoy

Dave Portnoy, often referred to as "El Presidente," is a prominent figure in the media industry, known for founding Barstool Sports and his unfiltered, larger-than-life persona. What started as a print publication focused on gambling content in Boston has evolved into a multi-platform digital media powerhouse, making Portnoy one of the most influential and wealthy personalities in the industry.

In this article, we'll explore how Portnoy's ventures and investments have contributed to his impressive net worth.

What Is Dave Portnoy’s Net Worth?

As of the third quarter in 2024, Dave Portnoy has a net worth of $150 million.

Portnoy’s wealth primarily stems from his ownership stake in Barstool Sports. Dave was the sole owner of the company till 2016 when The Chernin Group bought a 51% stake in the company for $10 million. This was his first big payday and according to Portnoy, “It was the first time in my life that I actually had money in my bank account.”

His remaining stake in the company would drop even further after Penn National acquired a 36% stake for $163 million. They would buy the whole company by February 2023 for an additional $551 million.

Dave would regain the entire ownership stake in Barstool after he re-purchased Barstool from Penn National in August 2023 for $1 (yes, one dollar). We’ll discuss more about this later. But as of 2023, Barstool Sports is valued at $606 million.

Aside from Barstool Sports, Portnoy also wholly owns One Bite Pizza and Brick Watch Company. Portnoy also has diversified his income streams through investments in stocks and cryptocurrencies. 

What Is Dave Portnoy's Claim to Fame?

Dave Portnoy's claim to fame is his transformation of Barstool Sports from a small print publication he started in 2003 into a massive multimedia empire. Originally focused on sports betting and fantasy sports, Barstool grew under Portnoy's leadership to cover various topics including sports, pop culture, and lifestyle, amassing a dedicated following. His brash, unapologetic style and savvy use of social media helped Barstool become a cultural phenomenon. This growth culminated in a series of lucrative deals, including the 2020 sale of a 36% stake to Penn National Gaming, which valued the company at $450 million. By 2023, Barstool was worth over $500 million, cementing Portnoy's status as a media mogul.

What Businesses Does Dave Portnoy Own?

"El Presidente" is not only the founder of Barstool Sports but also a savvy entrepreneur with a variety of successful ventures under his belt. Here’s a detailed look at the businesses he owns or is part of:

• Barstool Sports: Founded by Portnoy in 2003, Barstool Sports began as a small print publication and has since grown into a multimedia empire covering sports, pop culture, and lifestyle. Dave owned 100% of the company until 2016 when The Chernin Group bought a 51% stake in the company for $10 - $15 million. The majority ownership of the company would change hands again as Penn National Gaming bought a 36% stake in Barstool for $163 million. They would spend another $62 million to turn it into a 50% stake. By Feb 2023, Penn National owned 100% of Barstool Sports after paying an additional $387 million. Portnoy would eventually buy back Barstool from Penn National for a token amount of $1, a non-compete agreement in the gambling space, and a clause that if Barstool were to be sold again Penn Entertainment would take 50%. However, Portnoy has promised to “never” sell Barstool to anyone else. As of their latest valuation, Barstool Sports is worth $606 million.
• One Bite Pizza Reviews: What started as a fun side project in 2015 has turned into a full-fledged brand. Portnoy’s "One Bite" pizza reviews have amassed a massive following, leading to “One Bite” merchandise and the launch of a frozen pizza line in partnership with Walmart. 
• Brick Watch Company: In 2022, Portnoy expanded into the watch market by launching Brick Watch Company. The company offers watches that are for people like Portony, “who can afford a Rolex but don’t need a status symbol on their wrist to do their talking for them”. He started this company after he was denied the chance of being a representative for a watch brand that he used to wear all the time because he was “too controversial and didn’t fit the type of person they wanted representing the company.“

How Does Dave Portnoy Spend His Wealth?

Dave Portnoy is known for his luxurious lifestyle, which he frequently showcases on social media. Here’s how he spends his wealth:

How Many Houses Does Dave Portnoy Own?

Portnoy, known for his success with Barstool Sports, owns several luxury properties that reflect his substantial wealth and preference for high-end real estate. Here's a look at his notable homes:

• Nantucket Waterfront Mansion: In September 2023, Portnoy purchased a Nantucket Mansion for $42 million. This purchase was the most expensive home in Massachusetts History and included $2 million worth of furnishings. 
• Miami Waterfront Home: Portnoy bought a bay-front Miami mansion for $14 million in 2021.
• Hamptons mansion: In late 2021, Portnoy added a $9.75 million beach house to his real-estate portfolio. There were reports that he had put the house up for sale but he later clarified that the property is not on sale and never has been. 
• Saratoga Springs Property: Portnoy owns a house in Saratoga Springs, which he acquired for $1.4 million in 2023. As per latest reports plans on demolishing and rebuilding the ranch house.

How Many Cars and Other High-End Vehicles Does Dave Portnoy Own?

You would expect a multimillionaire like Dave to own a few expensive cars, but for some reason, he doesn’t. It’s not surprising considering the fact he’s spent most of his money buying real estate.'As per the information available online, "El Presidente" owns not 1 but 2 Ford Broncos. One in yellow and one in green. The yellow one is a 1972 Bronco that Dave bought after selling Barstool for the time. He was initially going to buy a Rolex but decided that was stupid and bought the Bronco instead.

Besides owning 2 Broncos, Portnoy also owns a boat (not sure which one), in which he almost got lost at sea. He had unhooked the boar and was checking if the engine worked or not. Unfortunately for him, it was not working and he ended up floating out to the harbor of Nantucket and had to be rescued by the US Coast Guard.

What Are Dave Portnoy’s Charitable Contributions and Philanthropic Endeavors?

Dave Portnoy is also known for his philanthropic efforts, particularly during the COVID-19 pandemic.

• Barstool Fund: In response to the COVID-19 pandemic, Dave Portnoy launched the Barstool Fund. He personally donated $500,000 to support small businesses struggling due to lockdowns and restrictions. The initiative quickly gained traction, and by May 2021, the fund had raised over $39 million, providing financial relief to 348 small businesses across the United States.
• LifeLine Animal Project: In early 2024, Portnoy donated $277,000 to the LifeLine Animal Project, an animal shelter in Atlanta, Georgia. The funds were raised through sales of t-shirts, hoodies, and hats themed after Miss Peaches, a dog Portnoy adopted from the shelter. 
• Support for NYPD Officer’s Family: After NYPD officer Jonathan Diller was tragically killed in the line of duty in March 2024, Portnoy spearheaded a fundraising campaign to support the officer's family. Through the sale of a special T-shirt on the Barstool Sports website, $750,000 was raised, which Portnoy matched with his own $750,000 donation, bringing the total raised to $1.5 million.
• Brick Watch Foundation: This foundation was started alongside Portnoy’s Brick Watch Company and promises to donate 20% of all proceeds from the company to support small businesses.

What’s Next for Dave Portnoy?

As of now, there’s no news regarding Dave’s plan for the upcoming future. So you can probably expect him to continue to expand his media and business empire. 

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