#2961
Randolph Lerner
United States 64 years old
Overview
- Source of Wealth
- Banking, credit cards
- Industry
- Finance & Investments
- Residence
- Cleveland, Ohio
- Education
- Columbia University (Bachelor of Arts/Science)Columbia University (LLB)
- Marital Status
- Married
- Children
- 4
Assets
- Bank of America Corp.0 shares @ --BAC-US
Biography
Randy Lerner owes his riches to his billionaire dad, Al Lerner (d. 2002), who made a fortune in credit cards.
His father got his start as a furniture salesman then invested in Cleveland-area real estate. He later bought control of Equitable Bancorp in 1981.
Equitable Bancorp merged with Maryland National to form credit card giant MBNA, which was acquired by Bank of America for $35 billion in 2005.
About
The Lerners bought the Cleveland Browns in 1999, bringing pro football back to the city. They sold the team to billionaire Jimmy Haslam for about $1 billion in 2012.
Lerner and his family sold the English football club Aston Villa for $88 million to Chinese businessman Tony Xia in 2016 after a decade of ownership.