http://www.cnbc.com/id/101747178 You can have the guest house! Stunning $43.5million mansion at the center of divorce between world's richest hedge fund manager and wife of 28 years David Tepper, 56, has been living at his Hamptons home after splitting from wife Marlene, 55 The couple has not yet formally filed for divorce Tepper, a hedge fund manager and philanthropist, is worth an estimated $10billion He bought the Sagaponack home in 2011 for $43.5million He tore down the original house and rebuilt a mansion for better views of the ocean The couple married in 1986 and have three children in their 20s By Daily Mail Reporters Published: 22:49 EST, 11 June 2014 | Updated: 05:28 EST, 12 June 2014 121 shares 120 View comments The world's highest-paid hedge fund manager has just split with his wife, and is designating their palatial Hamptons estate as the bachelor pad. It was announced this week that billionaire David Tepper, 56, had split with his wife Marlene, 55, after nearly 30 years of marriage and their newly-built Sagaponack beach home will no doubt factor in the divorce. Tepper bought the home in 2011, in part to get back at the ex-Goldman Sachs boss who refused to promote him before he left to start his own hedge fund - Appaloosa Management. Tepper bought the 6,165-square-foot oceanfront property from Corzine's ex-wife Joanne and demolished it, so he could build and even bigger home with views of the ocean from every room in the house. When asked if he purchased the home out of revenge, Tepper told New York Magazine: 'You could say there was a little justice in the world.' New bachelor pad: Billionaire hedge fund manager David Tepper is currently living in his Hamptons house after splitting with wife Marlene +6 New bachelor pad: Billionaire hedge fund manager David Tepper is currently living in his Hamptons house after splitting with wife Marlene Tear down: Tepper bought the property in 2011 and tore it down to rebuild a new property with better views of the ocean +6 Tear down: Tepper bought the property in 2011 and tore it down to rebuild a new property with better views of the ocean The Teppers have not yet formally filed for divorce, but have separated and are telling friends that the marriage 'has run its course', a source told PageSix. 'They hope to settle things quickly, quietly and amicably,' the source said. The head of $20 billion Appaloosa Management is worth an estimated $10 billion and made $3.5 billion in 2013 alone - meaning that divorce proceedings could reach eye-watering sums. Split: Billionaire hedge fund manager David Tepper and his wife Marlene are divorcing, according to sources +6 Split: Billionaire hedge fund manager David Tepper and his wife Marlene are divorcing, according to sources Forbes lists him as the 129th richest person in the world. The Teppers, who married in 1986, have three children in their 20s, Brian, Randi, and Casey. They share a mansion in Livingston, New Jersey and a $43.5 million oceanfront estate in the Hamptons. As well as running his company in Short Hills, New Jersey, Tepper, who grew up in Pittsburgh, Pennsylvania, is a minority owner of the Pittsburgh Steelers. Tepper worked as a trader at Goldman Sachs for eight years but left to start up his own hedge fund, Appaloosa Management, in 1992 after repeatedly being passed over for partnership. In 2009, he made a trade that netted his company $7.5 billion and gave him a payout of nearly $4 billion. 'What do you think I should do with it?' he asked New York Magazine afterwards. 'I could buy an island. I could buy a private jet... I could get myself a 22-year-old!' Family: The Teppers have three children in their 20s, Brian, Randi, and Casey, who grew up in New Jersey +6 Family: The Teppers have three children in their 20s, Brian, Randi, and Casey, who grew up in New Jersey Close: Brian pictured with Randi. The family hired Ashlee Simpson to sing at one of the girls' bat mitzvahs +6 Close: Brian pictured with Randi. The family hired Ashlee Simpson to sing at one of the girls' bat mitzvahs In 2012, he was ranked as the top-earning investor and was paid $4.4 billion. In 2013, he took home $3.5 billion. 'His track record has long been phenomenal,' Forbes reported in its rich list. 'But since the financial crisis his returns have reached a whole new level.' Tepper is a man who is happy to share his wealth. Last year, he gave $67 million to his alma mater Carnegie Mellon University, adding to the $55 million he gave in 2004, Forbes reported. Mansion: Tepper and his wife Marlene share this large home in Livingston, New Jersey +6 Mansion: Tepper and his wife Marlene share this large home in Livingston, New Jersey He has also made several large gifts to the University of Pittsburgh, where he completed his undergraduate education. His wife is a member of the board of overseers at Rutgers University, where the couple also donated $3.4 million to the Mason Gross School of the Arts. The Teppers were spotted together in May at a charity dinner for the Robin Hood Foundation. Tepper is also a major donor to that foundation. And after Hurricane Sandy, Tepper donated $200,000 in gift cards to New Jersey families who had suffered loss in the storm. His spokesman declined to comment.