What is David Portnoy’s net worth? what is Barstool Sports?

Barstool Sports – you either love it or hate it. This irreverent, sports-obsessed media company has built a massive following. But how did it become a multi-million dollar empire? And what about its outspoken founder, David Portnoy?

His fortunes have risen and fallen alongside Barstool’s. Let’s dive into the company’s history, its sale (and re-purchase?), and figure out just how much money is at stake.

Humble Beginnings:

David Portnoy, a self-proclaimed gambling addict and sports fanatic, launched Barstool Sports in 2003 as a free Boston newspaper. Think fantasy sports advice with a heaping side of sarcasm and unapologetic humor.

By 2007, it had gone digital, becoming a blog. Its brash style and devoted fanbase (the “Stoolies”) fueled its growth.

Big Investors, Bigger Bucks:

Barstool’s popularity caught the eye of investors. In 2016, The Chernin Group bought a majority stake for a cool $10 to $15 million. Then in 2020, PENN Entertainment jumped in, shelling out $163 million for a 36% share.

Portnoy stayed on as chief of content, and both deals reportedly boosted his net worth significantly.

Things got truly wild in 2022. PENN swooped in for the remaining Barstool shares, paying a whopping $388 million for full control. Portnoy seemed thrilled, but six months later, he shocked everyone by buying Barstool back!

The price? Rumored to be around $1. Turns out, PENN wanted to pivot towards sports betting, creating ESPN Bet, and Barstool’s edgy vibe didn’t quite fit.


What IS Barstool Sports?

Barstool Sports
Barstool Sports

It’s more than just sports news. Think podcasts, videos, raucous social media, wild events, and a fiercely loyal fanbase. It’s a pop culture phenomenon, pushing boundaries and sparking controversy along the way. Barstool also has a heart – the Barstool Fund has raised millions for small businesses in need.

Dave Portnoy’s Net Worth:

Estimating Portnoy’s net worth is tricky, given the ups and downs of Barstool’s ownership. At one point, he was likely worth around $100 million, but recent events make his current fortune a bit of a mystery.


FAQs

Is Barstool Sports successful?

Absolutely. It has millions of devoted followers and major partnerships. However, its controversial style isn’t for everyone.

Why is Barstool Sports so popular?

It’s raw, unfiltered, and taps into a passionate fanbase that loves its sports-meets-frat-party vibe.

Who owns Barstool Sports now?

Surprisingly, Dave Portnoy bought it back in 2023 after PENN Entertainment briefly owned it outright.

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