78 year old pioneer of leveraged buyout dies by suicide

Discussion in 'Wall St. News' started by Pekelo, Feb 26, 2023.

  1. Pekelo

    Pekelo

    https://www.bbc.com/news/world-us-canada-64753081

    In a statement, Thomas H Lee's family said they were "extremely saddened" by the 78-year-old's death.

    The New York Post reports that he died from a self-inflicted gunshot wound at his Manhattan office.

    The NYPD told the BBC an unnamed 78-year-old man had been found dead on Thursday morning at 767 Fifth Avenue.

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

    According to Forbes, Mr Lee was worth $2bn (£1.6bn) at his time of death.

    Alongside his pioneering of the leveraged buyout, Mr Lee was also known for acquiring beverage company Snapple in 1992 and selling it two years later to Quaker Oats for $1.7bn - 32 times what he bought it for.

    Mr Lee was also celebrated for his philanthropy, and had served as a trustee for prominent New York City art organisations like the Lincoln Center for the Performing Arts and the Museum of Modern Art.


    In 1996, he donated $22m 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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  2. tomkat22

    tomkat22

    Probably like George Sanders and Anthony Bourdain, he was just bored with life.
     
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  3. Businessman

    Businessman

    If even some billionaires like him have mental health problems, what chance do the rest of us have...
     
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  4. schizo

    schizo

    It seems like everything that goes against social norm is considered "mental health problem" these days. This is setting a dangerous precedence. Eventually, they will lock you up under the same guise of mentally unfit.
     
  5. vanzandt

    vanzandt

    There goes ET.
     
  6. schizo

    schizo

    Well, we're all deranged misfits here. No question about it. :D
     
  7. TheDawn

    TheDawn

    There might be more to the story than what's revealed. Multi-billionaires do not just wake up one day and decide to take a gun to their head. Warren Buffett, George Soros, all 100X richer than him and you don't see them popping their head off. And the family did not mention any psychological problems so there is very likely something that's withheld from us for privacy or whatever reasons.

    He is basically Richard Gere's character in the movie "Pretty Women" irl. Leveraged buyouts are not always positive or amicable. You are basically borrowing money to take over another person's or entity's company and then either selling them whole or crushing them into pieces to sell them piece by piece to make a quick buck. You are talking about many times, job losses, loss of livelihood over a job that they've worked for years, loss of dignity and etc. So you never know...
     
    Last edited: Feb 26, 2023
  8. :D
     
  9. If I was a betting man Id say it was a fear reaction more than a bored reaction.

    Something about to catch up with him?

    Its a long fall from billionaire to blow up.Especially once youve survived on that respect for the last 25 years.

    Also,you wouldnt do it to your family unless it was something that you felt you couldnt come back from.

    Probably macabre of me to speculate.
     
    richie90 likes this.
  10. Cuddles

    Cuddles

    78, came down w/dementia or some such shit and decided to peace out on his terms. Think Robin Williams. A 78 yo body is a fucking drag
     
    #10     Feb 26, 2023
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