Billionaire financier Thomas H. Lee, a pioneer of private equity investing, died Thursday at the age of 78, his family said in a statement.
Lee died by suicide, the New York office of the chief medical examiner said in an email to CBS MoneyWatch on Friday.
Lee, whose net worth has been valued at $2 billion by Forbes magazine, founded Lee Equity in 2006, which says it has invested over $15 billion in equity over its 46 years in finance. The financier is perhaps best known for his acquisition and sale of beverage maker Snapple, which his then-company bought for $135 million in 1992. Two years later, he sold it to Quaker Oats Co. for $1.7 billion, expecting an exceptional return on his investment.
In their statement, Lee’s family asked that their privacy be respected.
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“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 the needs of others ahead of his own,” they said said in the statement.
A Harvard graduate, Lee donated $22 million to his alma mater in 1996, which was one of the university’s largest gifts at the time. According to Lee Equity, Lee has served as a trustee at the Lincoln Center for the Performing Arts, the Museum of Modern Art, NYU Langone Medical Center, and the Whitney Museum of American Art.
If you or someone you know is experiencing emotional distress or a suicidal crisis, you can reach the 988 Suicide & Crisis Lifeline by calling or texting 988. You can also chat with the 988 Suicide & Crisis Lifeline here.
For more information on mental health care resources and support, call the National Alliance on Mental Illness (NAMI) HelpLine Monday through Friday, 10:00 a.m. – 10:00 p.m. ET at 1-800-950-NAMI (6264) or by email to [email protected].
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