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    Home»News»Thomas H. Lee US Billionaire Financier Dies at 78

    Thomas H. Lee US Billionaire Financier Dies at 78

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    By Sam Houston on February 24, 2023 News
    US financier Thomas H. Lee dies at 78
    US financier Thomas H. Lee dies at 78
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    A US billionaire financier who helped come up with the idea of using debt to buy a company, called a leveraged buyout, has been found dead, his family says.

    Thomas H Lee’s family said in a statement that they were “extremely saddened” by his death at age 78. The New York Post says that he killed himself by shooting himself in the head at his office in Manhattan.

    The NYPD told the BBC that a 78-year-old man was found dead at 767 Fifth Avenue on Thursday morning. The man’s name was not given.

    The office of Thomas H Lee Capital LLC is listed at the address. Forbes says that Mr. Lee was worth $2bn (£1.6bn) at the time of his death.

     Do you know that so far in 2023 there have been several well-known people who have passed away? If you want to know about them, you can look at our coverage:

    • Bethlyn Hand Who Worked for the Motion Picture Association Died at 85.
    • How Did Ryan Keeler, a UNLV Defensive Lineman Die?

    The police spokesman didn’t say for sure that the man killed himself with a gun, saying that the cause of death would be found by a medical examiner.

    In a statement to BBC News, the police said they had responded to a 911 call from an office on Fifth Avenue shortly after 11:00 (16:00 GMT) on Thursday morning. They said –

    “Upon arrival EMS [Emergency Medical Services] responded and pronounced the male deceased at the scene.”

    A statement by family friend and spokesman Michael Sitrick said –

    “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.”

    In addition to being the first person to do a leveraged buyout, Mr. Lee was known for buying the beverage company Snapple in 1992 and selling it to Quaker Oats two years later for $1.7 billion, which was 32 times what he paid for it.

    Mr. Lee was also known for giving back to the community. He was a trustee for the Lincoln Center for the Performing Arts and the Museum of Modern Art, both of which are well-known art institutions in New York City.

    In 1996, he gave $22 million to Harvard University, where he went to school. Some of this money has been used to help students pay for school. He said at the time –

    “I’ve been lucky to make some money. I’m more than happy to give some of it back.”

    His wife, Ann Tenenbaum, and his five children will remember him.

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    Sam Houston

    Journalistpr bestselling author Sam Houston is a former journalist who has interviewed murderers on death row, flown over L.A. with the LAPD. He’s also reported from the Caribbean, Africa and Kuwait’s border with Iraq. His books have been published in nearly 30 countries, including an illegal translation produced in Iran.

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