According to his family, a US billionaire banker who contributed to developing the leveraged buyout, a company purchase fueled by debt, has been found dead at his Manhattan office on Thursday morning, 23 February 2023. Read the complete article to find the real cause of the death of Thomas H. Lee.
Thomas H. Lee Cause of Death
Billionaire financier and investor Thomas H. Lee was found dead of a self-inflicted gunshot wound at his Manhattan office on Thursday morning, 23 February 2023, police sources said. The Office of the Chief Medical Examiner will establish the official cause of death.
The New York Post, citing unidentified police sources said:
“Billionaire financier and investor Thomas H. Lee was found dead of a self-inflicted gunshot wound at his Manhattan office on Thursday morning.”
Lee family friend and spokesperson Michael Sitrick 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.”
“Police said they had 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.
The NYPD told the BBC “an unnamed 78-year-old man had been found dead on Thursday morning at 767 Fifth Avenue.”
Fobes estimates Lee’s net worth at $2 billion, making him the 1,507th-wealthiest person in the world.
The individual died from a self-inflicted gunshot wound, but the police spokesman would not confirm this, saying a medical examiner would need to identify the cause of death.
Aside from developing the leveraged buyout, Mr. Lee is renowned for buying the beverage firm Snapple in 1992 and selling it to Quaker Oats two years later for $1.7 billion, or 32 times what he paid for it.
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Mr. Lee was renowned for his philanthropy and had held trusteeships for important New York City art institutions like the Museum of Modern Art and the Lincoln Center for the Performing Arts. He gave $22 million to his alma mater Harvard University in 1996, some of which has gone towards student financial aid.
He said at the time-
“I’ve been lucky to make some money. I’m more than happy to give some of it back.”
Craig Voss’s tweet confirms that Thomas H. Lee died from a self-inflicted gunshot wound. If you want to know more, we’ve included a tweet below:
https://twitter.com/Craig1454/status/1628935734643068930
His five children and wife Ann Tenenbaum survive him. Known today as a “leveraged buyout,” Lee is often cited as an early proponent of the practice. Thomas H. Lee, a graduate of Harvard University, created Thomas H. Lee Partners, L.P. in 1974 and has served as its chairman and chief executive officer ever since.
Investing in Snapple in 1992, the private equity trailblazer sold the company two years later for $1.7 billion, 32 times his initial investment. But not everything always went according to plan.
This information is officially published on BBCNews.com.