Over medium high heat cook ground beef in olive oil until browned. Drain the fat.
in a soup pot, Sauté the peppers in butter for about 5 minutes. Add the onions. Cook until they're translucent.
Add the tomato paste and fire roasted tomatoes. Cook stirring occasionally for about 5 minutes.
Add minced garlic and cook until fragrant.
Add ground beef back to the pot along with the pepperoni, broth, Italian seasoning, parsley, oregano, crushed red pepper, a bit of sugar, onion and garlic powder. Stir and let it come to a boil then simmer covered for about 15 minutes.
Remove the lid and add the heavy whipping cream and the parmesan cheese, stirring to incorporate.
Serve with shredded mozzarella, croutons and sliced olives
Adapted from
https://whiskitrealgud.com/hearty-pizza-soup/