David Tepper, the CEO of Appaloosa Management, now owns a vacant lot in Sagaponack and we are all waiting anxiously to find out what he’s going to build there.
Perhaps he’ll live in a tent there this summer?
The lot is a 6.45-acre oceanfront plot in Sagaponack, and the reason it is just a lot is because Tepper decided to tear down the original house that was there, which he bought for $43.5 million from his former boss Jon Corzine, who has been having a little bit of trouble lately after MF Global collapsed on Monday.
So what the hell is he going to build there?
Rumor has it that the new home will be twice the size of the original house, with a sunken tennis court, a bigger garage and will have much better views of the ocean, which according to many, was apparently the main reason why he tore the whole damn house down.
Something wrong with tearing down something so beautiful and expensive that 99% of the population could not even imagine setting foot in to just get a better view. It’s nice David gives to charity and has his own business school named after him at Carnegie Mellon but to toss away money on destroying something that seemed pretty perfect in this day when so many people are unemployed and suffering seems like such a selfish waste of money. I know you work hard for your money but like all the rest of us you still have the same 24 hours in a day to do it in so in my mind “harder” is all relative. People that work 2 or 3 jobs doing manual labor for 12 or more hours a day work as hard as you only in a different way. I respect the fact that you sent your kids to public schools, and have lived in the same home for the last 20 or more years. You deserve a great summer home and you bought one but by tearing it down you probably lost a lot of people’s respect for the hard working, down-to-earth, non ostentatious person you always seemed to be.