From pizza reviews to the stock market and sports betting tips, Dave Portnoy has become an internet and sports media celebrity. The founder of Barstool Sports has taken his sports media empire to new heights, garnering millions of followers in the process.
The 43-year-old Portnoy is best described as an entrepreneur. He founded Barstool Sports - which has grown from solely a sports media company to a digital media company that focuses on both sports and pop-culture.
Portnoy hasn't just limited himself to running Barstool Sports. His side hobbies include pizza reviews and stock market tips. He's reviewed hundreds of pizza joints, all published through Portnoy's YouTube Show 'One Bite Pizza Reviews.' The show consists of Portnoy traveling to various pizza restaurants across the nation and eating a slice. He only has one rule: "one bite, everybody knows the rules."
Portnoy also has major interest in the stock market, updating his investing results on 'Davey Day Trader.' His videos can be found on Barstool Sports and various social media channels.
Portnoy has reported major earnings on his investments - and has obviously done well through his sports media empire - which begs the question: what is Portnoy's net worth?
What is Dave Portnoy's net worth?
There's contradicting information when it comes to Portnoy's net worth. Celebrity Net Worth says Portnoy has a net worth of $120 million. But the Barstool founder has offered conflicting information over the years, never clarifying his concrete net worth.
The stock market crash earlier this year hurt Portnoy's net worth, according to the Barstool found himself. He reported over half-a-million in investing losses in April when the pandemic worsened across the world, hurting the U.S. stock market in the process.
"I think my net worth was around $100 million," Portnoy said in April of 2020, via Business Insider. "Literally probably cut in half, maybe more now."
Portnoy's net worth fluctuates often because of his risky investment strategies. He reportedly uses $3 million to day trade and puts even more of his savings into a long-term investment portfolio.
What is Barstool Sports and when did Dave Portnoy start the digital media company?
Barstool Sports has become a staple in the sports media world, becoming a sports-fan favorite over the years. Dave Portnoy founded the company in 2003, just four years after Portnoy graduated from the University of Michigan in 1999.
Following graduation, Portnoy went on to work at Yankee Group, a technology research and consulting firm located in Boston. He spent just four years working for the research and consulting firm before he left to start Barstool Sports.
Barstool started as a print publication. Portnoy and his co-workers offered fantasy sports advice and published gambling advertisements in the Boston area. Portnoy's biggest move in the company came when he quickly pushed the publication online in 2007.
Portnoy and Barstool picked up a few key investments along the way, specifically from The Chernin Group. Peter Chernin, founder of The Chernin Group - a company which specializes in investing in media and entertainment business - liked what he saw from Barstool. So much so, The Chernin Group purchased a majority stake of 51 percent of Barstool Sports in January of 2016. The company then moved its headquarters to New York City, shortly thereafter The Chernin Group's investment.
Portnoy is no longer the CEO of Barstool Sports, as of 2016. That role was given to Erika Nardini, the former CMO of AOL. Portnoy's role is labeled as the 'Chief of Content.' He oversees Barstool's content production, which was always a strong-suit for Portnoy.
Penn National Gaming, an operator of casinos and racetracks - based in Pennsylvania - purchased a 36 percent stake of Barstool Sports for $136 million in January of 2020. In three years - or sooner, depending on certain circumstances - Penn National Gaming will increase its ownership to 50 percent and eventually establish full ownership of Barstool, thanks to an incremental investment of $62 million.
A whopping 17 years after Portnoy founded the digital-media company, Barstool Sports is valued at $450 million, per Pitch Book. It continues to garner fans and subscribers everywhere.
Is Dave Portnoy married?
Dave Portnoy married Renee Satterthwaite in 2009 after the two dated for a while and became engaged in 2008. Portnoy and Satterthwaite were married for eight years before they divorced in 2017. Despite their divorce, Renee has kept the last name 'Portnoy' on her social media channels.
Like her ex-husband, Renee is somewhat of a social media celebrity, but on a smaller scale. She has over 30,000 Twitter followers and over 40,000 Instagram followers compared to Dave's 1.8 million Twitter followers and three million Instagram followers.
Thanks to her time in the social media spotlight, we know a good amount about Renee. She's an equestrian, having loved horses since a young age. She also has a great love of dogs. So much so, she fosters dogs in her own home.
Renee has had a few successful business ventures of her own, outside Dave's work with Barstool. She reportedly has a net worth of $4 million, according to Rich Athletes, for her work as an equine buyer and with SmartPak.
What's up with Dave Portnoy's pizza reviews?
Dave Portnoy has fans all across the country, of course thanks to his founding of Barstool Sports. But Portnoy took it to a new level with his pizza reviews.
Portnoy started his pizza reviews for one reason: he loves pizza. That's it. So with that simple love for the popular dish, Portnoy decided to start reviewing pizza joins, primarily in the Manhattan, New York area, a few years back.
The channel started as 'One Bite With Davey Pageviews' before it transitioned to its own YouTube channel titled 'One Bite Pizza Reviews.' The channel has over 300,000 subscribers and the videos often amass at least 100,000 views and can reach upwards of 2 million views.
The videos are simple. Portnoy tests out a new pizza joint every few days. He always orders a plain, cheese pizza and follows one rule: "one bite, everybody knows the rules." Of course, Portnoy may say he's only going to take one bite, but that doesn't often stop him from scarfing down the whole slice at times.
Portnoy will then give the pizza a rating out of 10, publish the rating on his website and release the video to the public. His reviews have become a must-watch for pizza lovers everywhere, especially in the New York area.
Portnoy's pizza reviews have become a staple of Barstool. One could even argue his pizza reviews are one of the main reasons Barstool Sports exploded in viewership the way it did these past few years.
Dave Portnoy has become one of the most fascinating internet and entrepreneur celebrities of this past decade.
Portnoy's reported net worth of around $100 million seems to be just the beginning of his success to come as Barstool Sports improves in popularity.