- The family of Thomas H. Lee, 78, expressed their deep sadness.
- He shot himself in the head at his Manhattan office.
- Mr. Lee was worth $2 billion (£1.6 billion) at the time of his passing.
According to his family, a US billionaire banker who contributed to the development of the leveraged buyout, a company purchase fueled by debt, has been found dead.
The family of Thomas H. Lee, 78, expressed their “deep sadness” at his passing in a statement.
He shot himself in the head at his Manhattan office, according to The New York Post.
According to the NYPD, a 78-year-old man who has not been identified was discovered dead at 767 Fifth Avenue on Thursday morning.
Thomas H Lee Capital LLC’s offices are indicated by the address.
Forbes estimates that Mr. Lee was worth $2 billion (£1.6 billion) at the time of his passing.
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.
According to a statement sent to BBC News, police reacted to a 911 call that came in from inside a Fifth Avenue business soon after 11:00 (16:00 GMT) on Thursday morning.
When they arrived, EMS (Emergency Medical Services) reacted and declared the individual dead there, according to them.
“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,” said family friend and spokesman Michael Sitrick in a statement.
Aside with 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.
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.
“I’ve had some luck in earning some money. I’d be more than delighted to return part of it “At the time, he remarked.
His five children and wife Ann Tenenbaum survive him.
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