David Alan Tepper and his wife Marlene have three children. His personal hobbies include coaching his children’s softball, baseball and soccer teams. Tepper and his family live in Livingston, New Jersey. Tepper is a member of the Business Board of Advisors of the Tepper School of Business at Carnegie Mellon University. He also serves on many boards and committees for charitable and community organizations in New York and New Jersey. In September, 2009, Tepper bought a portion of the Pittsburgh Steelers.
On March 19, 2003, Tepper announced that he would make a single donation of 55 million dollars to Carnegie Mellon University’s business school (which was then called the Graduate School of Industrial Administration—GSIA). Tepper gave this donation after he had been encouraged by Kenneth Dunn, a former professor of his who became dean of the school. Tepper accepted the suggestion but gave the contribution as a “naming gift.” He suggested that the school’s name be changed to the David A. Tepper School of Business.
Tepper also has donated many large gifts to the University of Pittsburgh. These included several endowed undergraduate scholarships and support of academic centers and community outreach programs run by the university.