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David A. Tepper Scholarship Fund

David A. Tepper (MBA 1982) established the David A. Tepper Scholarship Fund in 1998 to provide support to outstanding students who have the potential to become leaders in the field of finance. Preference for this scholarship is given to applicants from Pennsylvania or New Jersey.

Analytical Decision-Making Applied to Finance

Mr. Tepper attributes his professional success in part to the unique set of analytical skills he learned at the Tepper School, and through his scholarship, he helps to ensure that others have a similar opportunity. As he puts it, “the outstanding education that I received at Carnegie Mellon gave me the ability to analyze investment options in such a unique way that I am still capitalizing on what I learned to this day.”

At the Tepper School of Business, our finance program emphasizes the analytical and quantitative aspects of finance and accounting, offering students an opportunity to explore various methodologies and analyses. We view analytics as a powerful career advantage in which students master frameworks for assessing complex, uncertain and dynamic variables and produce strategic solutions that, ultimately, are better decisions. It’s this mastery of complexity that our finance students and graduates leverage for career advantage. Specific tools include predictive analysis, quantitative modeling – what some today might call ‘big data’ – optimization, modeling and strategic analysis throughout various courses that include finance, marketing, and operations.

Our graduates are working at some of the world’s most prestigious financial institutions, money management firms, corporate finance and treasury departments, consulting firms, and brokerage firms. In fact, approximately 25% of Tepper School MBAs accepted finance-related positions following graduation. Further, the Graduate Finance Association, which provides comprehensive mentoring, networking, and education to Tepper School students, is the largest professional organization at the school.

Our finance faculty include some of the most prominent members of the financial academic community, with success in the fields of international finance, financial management, corporate finance and economic research. Many serve on the editorial boards of leading finance journals. In addition, QuantNet ranked Carnegie Mellon’s MSCF program #1 in their latest ranking of the top masters programs in financial engineering, which provides further evidence of our breadth of knowledge in the field.


Recognized as one of the world’s most successful hedge fund managers, David A. Tepper is the president and founder of Appaloosa Management L.P. Formed in 1993 by Mr. Tepper and Jack Walton, a former portfolio manager at Goldman Sachs, Appaloosa is a $15 billion hedge fund investment firm based in Chatham, New Jersey. Appaloosa specializes in distressed debt found in public equity and fixed income markets around the world. The company invests on behalf of individuals, foundations, universities, and other organizations.

Mr. Tepper’s interest in investments was peaked at an early age as he watched his father trade stocks in Pittsburgh. Today, Mr. Tepper has achieved an international reputation for producing exceptionally high returns among fund managers on Wall Street. He began to earn this reputation when he became the head trader on the high-yield desk at Goldman Sachs within six months of being hired in 1985. Mr. Tepper traded at Goldman for eight years prior to founding Appaloosa.

Mr. Tepper’s exceptional professional success is coupled with a strong sense of philanthropy. In
2004, he gave $55 million to Carnegie Mellon University to transform the Graduate School of Industrial Administration and rename it the Tepper School of Business. He also supports the school by serving on the Business Board of Advisors and as a life trustee of Carnegie Mellon University. In addition, Mr. Tepper serves on numerous other boards and committees for charitable and community organizations located in New York and New Jersey. He was instrumental in changing education tenure reform laws in New Jersey, through Better Education for Kids (B4K), the organization he co-founded.

Mr. Tepper was raised in the Stanton Heights neighborhood of the City of Pittsburgh. He earned a B.A. degree with honors in Economics from the University of Pittsburgh and an MBA from Carnegie Mellon University.

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