Edward Lampert
Overview
- Source of Wealth
- Sears
- Industry
- Finance & Investments
- Residence
- Miami Beach, Florida
- Organization
- Founder at ESL Investments Inc.
- Education
- Yale University (Bachelor of Arts/Science)
- Marital Status
- Married
- Children
- 3
Assets
- AutoNation Inc.3,775,000 shares @ --AN-US
- Lands' End17,114,000 shares @ --LE-US
- Sears Holdings Corp.33,515,786 shares @ --SHLDQ-US
- Seritage Growth Properties13,420,000 shares @ --SRG-US
Biography
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.
About
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.