Thomas H. Lee Wiki – Thomas H. Lee Biography
A billionaire financier and investor was found dead from a self-inflicted gunshot wound in his office in New York City on Thursday. Thomas H. Lee was confirmed dead in a statement issued by his family. He was 78 years old. Police responded to Lee’s office at 767 Fifth Avenue in Manhattan around 11:10 a.m. m. His firm, Thomas H. Lee Capital, LLC, is located on the sixth floor of the building.
Lee, a Harvard graduate, Thomas H. Lee’s net worth is approximately $2 billion at the time of his death, according to Forbes.
The financier struck gold in his career by acquiring midsize companies, restoring their value and then selling them for incredible profits, and his technique and success at the time was described as the “envy of Wall Street.” His leveraged buyout deals were legendary in the 1990s: pioneering financial transactions that enabled his company, in some cases, to produce profits of more than 30 times in a matter of years. The police found the body of the billionaire in the office. Paramedics pronounced him dead at the scene. Lee’s official cause of death will be determined by the chief medical examiner.
Thomas H. Lee Age
The age of Thomas H. Lee was 78 years.
Thomas Lee Bio
Family spokesman Michael Sitrick released a statement on Lee’s death on Thursday: “The family is extremely saddened by Tom’s death. “While the world knew him as one of the pioneers in the private equity business and a successful businessman, we knew him as a devoted husband, father, grandfather, brother, friend, and philanthropist who always put the needs of others first. yours. ‘Our hearts are broken. We ask that our privacy be respected and that we be allowed to grieve.” Lee was the founder and chairman of Lee Equity and served as chairman and chief executive officer of Thomas H. Lee Partners, according to Lee Equity’s website.
He founded his Boston-based firm in 1974, and is credited with being an early pioneer in private equity and specifically leveraged buyouts. The businessman may be best known for selling Snapple for $1.7 billion in 1992. He acquired the company for $135 million, then invested $28 million in it, before selling it. He increased the company’s revenue from $95 million a year to $750 million. In his career, Lee has invested more than $15 billion in hundreds of transactions.
Lee resigned from Thomas H. Lee Partners in 2006, and that same year he formed Lee Equity Partners, a private equity firm focused more on growth equity deals than the leveraged buyouts favored by THL. He served as president until his death. Just last week, it was announced that former Willis Towers Watson CEO John Haley had been appointed as an executive partner in the firm’s financial services and technology investment group, Business Wire reported.
Thomas H. Lee’s Family
Lee has been married twice, first to Barbara Fish Lee, in 1968. They had two sons, Zach and Robbie, before divorcing in 1995.
He married his second wife Ann Tenenbaum of Savannah, Georgia in 1997 and they had three children: Jesse, Nathan and Rosalie. He also has two grandchildren. Lee was good friends with Bill and Hillary Clinton and in June 2008, following Hillary’s failed presidential bid, the couple reportedly stayed at their East Hampton home.
Over the past 46 years, Lee has been responsible for investing more than $15 billion of capital in hundreds of transactions, including the acquisition and subsequent sales of brands such as Snapple Beverages and Warner Music. He was also known as a philanthropist and trustee who served on the boards of many organizations, including the Lincoln Center, the Museum of Modern Art, Brandeis University, Harvard University, and the Museum of Jewish Heritage.Read More…..