Investor David Tepper Donates $3 Million to Feeding America

Investor David Tepper Donates $3 Million to Feeding America

Oct 10
Investor David Tepper Donates $3 Million to Feeding America

Over 200 centralized food banks comprise the nationwide network of Feeding America, which supplements food to nearly 50 million people via 60,000 food pantries and meal delivery programs in the U.S. The entire network has been strained to the breaking point this autumn, by the hurricane disasters in Texas, Florida, and Puerto Rico.

In a glimpse of what the wealthy should be to America, hedge fund billionaire David Tepper pledged $3 million from his David Tepper Charitable Foundation and Appaloosa LP to support Feeding America’s hurricane relief efforts.

Last week, Tepper told reporters that ensuring food banks have access to food, safe drinking water, and the other resources they need to remain open in times of crisis is “vital to helping these communities recover.”

CEO of Feeding America Diana Aviv said that the Tepper Foundation pledge will reach thousands of those displaced and impacted by the hurricanes. On their website, Feeding America quips that every dollar of donation furnishes 11 meals to the hungry. By that rubric, this pledge could feed more than half of the network’s regular recipients. By comparison, in 2016, they reported taking in a total just under $2.5 million in public support and revenue.

Tepper, son of an accountant and a school teacher, is currently worth nearly $12 billion, putting him among the 200 wealthiest people in the world. He’s known as a “philanthropist with a loose wallet.”

Tepper’s $3 million pledge, while game-changing for Feeding America, is chump change for his foundation. In 2013, he donated a whopping $67 million to his alma mater of Carnegie Mellon University (the university named their school of business after him). As if that’s not cool enough, Tepper also regularly supports charities targeting Jewish communities and education.

Another reason to love the guy? After Hurricane Sandy, he donated $200,000 in gift cards directly to families in affected cities to help them rebuild.

The world needs more David Teppers.

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