Dave Portnoy, owner and founder of Barstool Sports, said that “Captain Dave” would never be able to sail again after being lost at sea. Today we will discuss about Dave Portnoy net worth: Barstool Sports founder rescued by Coast Guard.
Dave Portnoy net worth: Barstool Sports founder rescued by Coast Guard
Dave Portnoy is an American sports media personality and internet entrepreneur who has a net worth of $150 million. Dave Portnoy has earned his fortune as the founder of digital sports powerhouse Barstool Sports. David sold parts of Barstool to various buyers in several transactions, culminating with a transaction with Penn Gaming in August 2022.
He first sold a majority stake to The Chernin Group in 2016. In January 2020, Penn Gaming acquired a 36% stake from the founders for $163 million. The purchase came with an option to purchase the entire company at a future date. In August 2022, Penn Gaming exercised its option to purchase Barstool outright at a valuation of $390 million. From start to finish, Penn Gaming paid $550 million to purchase the entire Barstool. More details about these transactions and their impact on Portnoy’s wealth will be provided later in this article.
In a surprise twist, on August 8, 2023, it was revealed that Dave had re-acquired Barstool from Penn Gaming. The transaction reestablished Portnoy as sole owner of the brand for the first time in nearly a decade. Dave reportedly reacquired the barstool for the nominal price of $1.00. This is not a typing error. More details on this transaction later in this article.
Barstool Sports founder rescued by Coast Guard
The U.S. Coast Guard came to the rescue of Barstool Sports founder Dave Portnoy after his boat lost power near Nantucket on Monday.
“Captain Dave was almost lost at sea,” Portnoy said, thanking the Coast Guard “for saving my life.”
The Swampscott native explained in a social media post that he unhooked his boat in Nantucket before realizing the boat had lost power.
Portnoy said, “No power, no radio, no anchor, no nothing; high, howling winds.” “The next thing you know, Captain Dave is lost at sea.”
Portnoy said he was trying to avoid colliding with other boats in the harbor and fired the flare gun as a distress signal. He said he was screaming for help and luckily “a girl who looked like a robot” was able to board his boat and use her radio to call the Coast Guard.
The Boston-based First Coast Guard District responded to Portnoy’s post on X, formerly known as Twitter.
“You’re welcome, Dave. Tell Miss Peaches we said hello and remember to boat safely!” the Coast Guard said, referring to Portnoy’s famous rescue pitbull.
Coast Guard confirms rescue of Dave Portnoy
The Coast Guard confirmed to WBZ-TV that a 28-foot “pleasure craft” owned by Portnoy “has broken free from its mooring in Nantucket Harbor and is drifting through the area.” Coast Guard members on a training exercise were able to tow the boat back to land.
The agency says it’s a good lesson for all boaters to be prepared with a personal locator beacon or radio in case of an emergency.
“We are glad they used distress signals and appreciate the Good Samaritan for preparing a VHF radio to assist the Coast Guard,” the Coast Guard said.
As for Portnoy, who reportedly bought the most expensive home ever sold on Nantucket last year, he’s not sure when he’ll be back on his boat.
“It’s a dangerous game,
