Banker celebrates creating his own $20billlion company by buying and TEARING DOWN the $43million Hamptons mansion of his former Goldman Sachs boss who refused to promote him

  • David Tepper bought the ocean-facing property in 2010 from former Goldman Sach's CEo John Corzine’s ex-wife
  • The following summer, he razed the summer home to the ground to make way for a mansion almost twice the size
  • Five years later, Tepper's 11,268-square-foot mansion is complete, boasting a large pool, hot tub and tennis courts 

By Khaleda Rahman For Dailymail.com

Published: 18:43 EST, 22 September 2015 | Updated: 23:06 EST, 22 September 2015

A hedge fund billionaire bought his former boss’s Hamptons summer home for more than $40million and then tore it down to make room for a mansion twice its size. 

David Tepper bought the ocean-facing property in Sagaponack, New York, in 2010 from John Corzine’s ex-wife. He paid $43.5million for Corzine’s former summer getaway – making it the most expensive home in the Hamptons at the time. 

The following summer, he razed the 6,165 square foot home to the ground in order to build a completely new and much larger mansion. 

Now, five years later, Tepper’s renovation is finally finished, and the sprawling estate boasts a large pool and tennis court on site as well as a spectacular ocean view. 

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David Tepper bought his former boss's ocean-facing property in Sagaponack, New York, in 2010, and tore it down to build a much bigger mansion (pictured above, Tepper's completed Hamptons home)

David Tepper bought his former boss's ocean-facing property in Sagaponack, New York, in 2010, and tore it down to build a much bigger mansion (pictured above, Tepper's completed Hamptons home)

Tepper paid $43.5million in 2010 for former Goldman Sachs CEO John Corzine's former summer home and a year later, razed the property to the ground to build a larger mansion (pictured, the estate in 2012)

Tepper paid $43.5million in 2010 for former Goldman Sachs CEO John Corzine's former summer home and a year later, razed the property to the ground to build a larger mansion (pictured, the estate in 2012)

Tepper reportedly decided to tear down the existing property to build a bigger one with larger windows as a dune prevented him from enjoying sunset views in every room 

Tepper reportedly decided to tear down the existing property to build a bigger one with larger windows as a dune prevented him from enjoying sunset views in every room 

Plus, Cooper Robertson Architects, who were commissioned to design the new home were instructed to ensure the view could be appreciated from every room of Tepper's 11,268 square foot mansion.

Tepper had been annoyed by a dune in front of the property, which prevented him from enjoying the sunset in whichever room he wanted, Curbed Hamptons reported.

His new mansion boasts a large balcony featuring an extravagant dining area and hot tub as well as another rooftop terrace perfect for entertaining guests during the summer.  

Tepper left Goldman Sachs to set up his hedge fund Appaloosa when Corzine, who was CEO at the time, decided not to promote Tepper to partner. 

Appaloosa now boasts about $20billion in assets under management, according to Business Insider. 

Speaking about his renovation plans to New York magazine in 2010, Tepper said: ‘You could say there was a little justice in the world.’

The frame of the new mansion was built by around June in 2012, showing exactly how large Tepper intended the new home to be

The frame of the new mansion was built by around June in 2012, showing exactly how large Tepper intended the new home to be

In an image from about January 2013, works had begun on building the pool and tennis courts and the home itself was nearing completion

In an image from about January 2013, works had begun on building the pool and tennis courts and the home itself was nearing completion

Here, a picture from March last year shows the 11,268-square-foot mansion is complete with only finishing touches to the estate needed

Here, a picture from March last year shows the 11,268-square-foot mansion is complete with only finishing touches to the estate needed

In a recent aerial shot, the sprawling Southampton estate is seen in all its glory, boasting a huge pool as well as a hot tub on the balcony

In a recent aerial shot, the sprawling Southampton estate is seen in all its glory, boasting a huge pool as well as a hot tub on the balcony

David Tepper (pictured) quit Goldman Sachs to set up his own hedge fund, now worth $20 billion, after then-CEO John Corzine passed him over for partner
David Tepper (pictured left) quit Goldman Sachs to set up his own hedge fund, now worth $20 billion, after then-CEO John Corzine (pictured) passed him over for partner

David Tepper (pictured left) quit Goldman Sachs to set up his own hedge fund, now worth $20 billion, after then-CEO John Corzine (right) passed him over for partner

 

 

 

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