Thomas H Lee: Billionaire banker found dead in NYC office from self-inflicted gunshot wound was a ‘pioneer in private equity’
MANHATTAN, NEW YORK: According to police sources, Thomas H. Lee, an American billionaire banker, and investor was discovered dead in his Manhattan office Thursday morning from a self-inflicted gunshot wound. Around 11.10 am, police responded to a 911 call at 767 Fifth Avenue, where Thomas H. Lee Capital LLC is on the sixth level. The 78-year-old businessman was pronounced dead on the scene by EMTs. The Chief Medical Examiner's Office is yet to certify the official cause of death.
According to New York Post, Michael Sitrick, a family friend and spokesperson for Lee, said in a statement: "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, sibling, friend, and philanthropist who always put others’ needs before his own."
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Who was Thomas Lee?
The website for Lee Equity states that Lee founded the company and served as its chairman. Prior to that, he was the CEO and chairman of Thomas H. Lee Partners. He established his business in 1974, and he is recognized as one of the early innovators in private equity, particularly leveraged buyouts. According to Forbes, Lee had a net worth of almost $2 billion at the time of his death.
The founder of private equity acquired Snapple in 1992 and sold it for $1.7 billion two years later, making 32 times his initial investment. Lee oversaw the 1999 acquisition of the fifth-largest North American printer, later known as Vertis Communications. By 2006, when many of its competitors had expanded to offer additional services, such as marketing, it had slipped to ninth place because it lacked the funding to make a similar move. In 2008, Vertis filed for bankruptcy.
Lee has been married twice, first to Barbara Fish Lee, whom he divorced in 1995. Ann Tenenbaum of Savannah, Georgia, was his second spouse. He is survived by five children. Lee was close to Hillary and Bill Clinton. The couple apparently stayed at Lee's East Hampton house in June 2008, following Hillary's lost presidential campaign.
How did Thomas Lee die?
Lee was discovered dead at his New York City office from a self-inflicted gunshot wound. His family released a statement confirming Lee's death. Around 11.10 am, police found Lee's body at his Fifth Avenue office in Manhattan, where Thomas H. Lee Capital, LLC is headquartered.
