Edward Lampert
$2.3B
Born
Jul 19, 1962
Age
63
Source of Wealth
Sears
Residence
Miami Beach, Florida
Citizenship
United States
Marital Status
Married
Children
3
Education
Bachelor of Arts/Science, Yale University
- After a stint at Goldman Sachs' risk arbitrage department, Edward Lampert founded hedge fund ESL Investments in 1988, betting on undervalued stocks.
- He took over as CEO of struggling retail giant Sears Holdings (Sears, Kmart, Kenmore) in 2013 with hopes of a turnaround, but failed miserably.
- Lampert's ESL Investments promised Sears nearly $1 billion in loans in the first 10 months of 2017.
- In October 2018, Sears Holdings filed for Chapter 11 bankruptcy and announced that it would close 142 Sears and Kmart stores.
- In January 2019 Lampert won an auction to keep the company, with a reported bid of more than $5 billion.
- Lampert survived a kidnapping in 2003; his captors released him after two days.
- A graduate of Yale University, he was a part of the secret society Skull and Bones, whose alumni include former presidents George H.W. Bush and George W. Bush.
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