US billionaire financier Thomas Lee found dead at 78

Publish date: 2024-05-08

Thomas H. Lee, a US billionaire financier, known for pioneering the debt-fuelled corporate acquisition called leveraged buyout, has been discovered dead.

His family expressed deep sorrow over the 78-year-old’s demise in a statement.

Reports from the New York Post indicated that he died from a self-inflicted gunshot wound at his office in Manhattan.

He was found dead on Thursday morning at 767 Fifth Avenue.

The address is where the offices of Thomas H Lee Capital LLC are located.

At the time of his death, Forbes estimated Mr. Lee’s net worth at $2 billion (£1.6 billion).

Police stated that they responded to a 911 call shortly after 11:00 (16:00 GMT) on Thursday morning from an office on Fifth Avenue.

“Upon arrival EMS [Emergency Medical Services] responded and pronounced the male deceased at the scene,” they said.

A statement by family friend and spokesman Michael Sitrick said: “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, sibling, friend and philanthropist who always put others’ needs before his own.”

In addition to his groundbreaking work in leveraged buyouts, Lee was also recognized for acquiring the beverage company Snapple in 1992 and selling it two years later to Quaker Oats for $1.7 billion – 32 times the purchase price.

He was also renowned for his philanthropy and had served as a trustee for prominent New York City art organizations such as the Lincoln Center for the Performing Arts and the Museum of Modern Art.

In 1996, he donated $22 million to his alma mater, Harvard University, part of which has been used to provide financial aid for students.

“I’ve been lucky to make some money. I’m more than happy to give some of it back,” he said at the time.

He is survived by his wife, Ann Tenenbaum, and his five children.


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