Lynn Schusterman & family
Overview
- Source of Wealth
- Oil & gas, investments
- Industry
- Energy
- Residence
- Tulsa, Oklahoma
- Education
- University of Miami (Drop Out)
- Marital Status
- Widowed
- Children
- 3
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.
About
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.