Billionaire financier Thomas H. Lee dies at age 78
Billionaire financier Thomas H. Lee, a pioneer of private equity investing, died on Thursday at age 78, his family said in a statement.
Lee died by suicide, New York City's Office of Chief Medical Examiner said Friday in an email to CBS MoneyWatch.
Lee, whose fortune was pegged at $2 billion by Forbes magazine, in 2006 founded Lee Equity, which said he had invested over $15 billion in capital during his 46 years in finance. The financier may be best known for his purchase and sale of drink maker Snapple, which his firm at the time bought for $135 million in 1992. Two years later, he sold it for $1.7 billion to Quaker Oats Co., banking an extraordinary return on his investment.
In their statement, Lee's family asked for their privacy to be respected.
"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," they said in the statement.
A graduate of Harvard, Lee donated $22 million to his alma mater in 1996, marking one of the university's biggest gifts at the time. Lee had served as trustee at Lincoln Center for the Performing Arts, the Museum of Modern Art, NYU Langone Medical Center and the Whitney Museum of American Art, according to Lee Equity.
If you or someone you know is in 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 about mental health care resources and support, The National Alliance on Mental Illness (NAMI) HelpLine can be reached Monday through Friday, 10 a.m.–10 p.m. ET, at 1-800-950-NAMI (6264) or email info@nami.org.
