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N.J.'s richest man until he fled for lower taxes, Trump critic David Tepper buying Panthers

N.J.'s richest man until he fled for lower taxes, Trump critic David Tepper buying Panthers

Billionaire hedge fund manager David Tepper, once New Jersey's wealthiest man before he fled the state for less-taxed Florida, is set to buy the Carolina Panthers, according to published reports Tuesday. Tepper will pick up the NFL team for a record-breaking $2.2 billion, ESPN.com and the Charlotte Observer reported, citing sources. Three-quarters of league owners must approve the deal and a vote is expected next week. With a net worth reported at north of $11 billion, Tepper's 2016 decision to move his Appaloosa Management to Miami prompted one state official to warn lawmakers of an income tax hit for the Garden State. Tepper earned $700 million from the hedge fund in 2016. Jersey taxes reportedly