Rank #963
Lynn Schusterman & family
Net worth $4.4B
Oil & gas, investments · United States
- Born
- Jan 21, 1939
- Age
- 87
- Source
- Oil & gas, investments
- Residence
- Tulsa, Oklahoma
- Citizenship
- United States
- Marital status
- Widowed
- Children
- 3
- Education
- Drop Out, University of Miami
Net worth over time
Biography
- Lynn Schusterman's husband Charles Schusterman founded Samson Resources in 1971 and grew it until his death from leukemia in 2000.
- Lynn and Charles' daughter Stacy became co-CEO of Samson Resources in 1999 and the sole CEO in 2005.
- Under Stacy Schusterman's leadership, the family sold most of the company's assets to a KKR-led group for $7.2 billion in 2011.
- Lynn Schusterman held onto some oil and gas assets, which are part of Samson Energy, chaired by her daughter Stacy.
- Of the Samson proceeds, $2.3 billion went to Charles and Lynn Schusterman Family Philanthropies, which works to promote equity in the U.S. and strengthen the state of Israel.
- Under KKR's leadership, Samson filed for bankruptcy in 2015, burdened with too much debt as oil prices fell.
- The Schustermans won a lawsuit filed by a bankruptcy settlement trust that claimed the family had gotten an unfair windfall from the 2011 sale.