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The American billionaire Thomas Lee, who was 78 years old, reportedly committed suicide on Thursday in his Manhattan office, according to a report in the New York Post. Leveraged buyouts and private equity deals were considered to have been invented by Lee.
The businessman was discovered dead in his Fifth Avenue Manhattan office, which served as the primary location of his investment firm, by police when they arrived in response to an emergency 911 call on Thursday morning around 11:10 a.m. local time. According to the source, Mr. Lee died from “a self-inflicted gunshot wound” and that all efforts to save his life were unsuccessful. He was discovered by a female assistant at his job on the bathroom floor. She went in quest of him because she hadn’t heard from him since the morning.
Fox News reported that Thomas Lee’s family acquaintance and spokesperson, Michael Sitrick, released the following statement: “The loss of Tom has devastated the family deeply. We knew him as a devoted husband, father, grandpa, sibling, friend, and philanthropist who always placed the needs of others before his own. The world knew him as one of the industry’s forerunners in private equity and a successful businessman.”
In addition to serving as Chairman and CEO of Thomas H. Lee Partners, which he started in 1974, Thomas Lee was also the founder and chairman of Lee Equity, which he established in 2006. He acted as a trustee and philanthropist for a number of organizations, including the Lincoln Center, the Museum of Modern Art, Brandeis University, Harvard University, and the Museum of Jewish Heritage.
The billionaire has invested more than $15 billion in hundreds of transactions over the last 46 years, including the acquisition and subsequent sale of renowned companies like Warner Music and Snapple Beverages. He was reportedly one of the first financiers to purchase companies using credit taken out against the company. A “leveraged acquisition” is the term used today.
