Thursday, June 30, 2011
$100 Million ATM Receipt Found In Hamptons
This could be the closest many of us get to seeing $100 million.
The Wall Street tabloid site DealBreaker.com on Wednesday posted a June 18 ATM receipt from a Capitol One Bank in East Hampton showing an account with an available balance of a whopping $99,864,731.94.
The receipt is reported to have been left in the ATM after the account holder withdrew the cash.
DealBreaker later identified the account holder as David Tepper, a hedge fund manager and founder of Appaloosa Management. The site reports that Tepper joked after withdrawing the money that he "hadn't used an ATM since Lehman."
The New York Post reached Tepper on Wednesday night who denied even being in the Hamptons in June.
"I would never do something as irresponsible as leaving $100 million in a savings account," he told The Post.
Tepper recently tore down his ocean-front home in the Hamptons that he bought for $43.5 million in 2010.
Regardless of the account holder's identity, he or she still suffered the $2.75 out-of-network ATM fee for withdrawing $400.
Posted by Amtrax at 6:34 PM