Sadly, I can confirm this does not belong to me.
The hunt is on for the New York mogul with questionable cash management skills.
Speculation bubbled on Wednesday after a receipt left hanging out of a Capital One ATM in East Hampton that displayed its owner’s remaining balance as $99,864,731.94 — yes, that would be $99 million and change — was posted on Dealbreaker.
The receipt, which appears to show a $400 cash withdrawal from a savings account plus a $2.75 ATM fee, was rumored to belong to the Appaloosa Management honcho David Tepper, who made billions during the housing collapse.
It wouldn’t be out of character for Mr. Tepper, a profligate spender and Hamptons regular who once mused to New York magazine’s Jessica Pressler about how he could spend his billions. “I could buy an island. I could buy a private jet — but I have NetJets. I could get myself a 22-year-old!”
But The New York Post said on Thursday that it had contacted Mr. Tepper, who denied owning the account.
Commenters over at Dealbreaker have zeroed in on the wisdom of keeping an eight-figure balance in an account that may not even pay 1 percent interest. (Bankrate.com lists the largest interest rate for a so-called “jumbo” savings account at 1.14 percent, from Delaware’s Discover Bank.) But others have noted that some brokerage firms allow you to withdraw from your trading account as if it were a savings account, in which case the account’s yield could be much higher.
Until a well-heeled Hamptonite claims the ATM receipt, DealBook will be working the phones in search of an answer. Paulson? Schwarzman? Mayor Bloomberg?