David Tepper, founder of Appaloosa Management, has deployed $3.5B across sports assets—primarily the Carolina Panthers ($2.8B) and Charlotte FC—representing a structural shift in how ultra-wealthy individuals treat team ownership. Per Matchex data, Tepper's sports allocation represents 17% of his family office's $20.9B AUM, a concentration level rarely seen among institutional investors treating franchises as portfolio assets rather than vanity purchases.