Eddie Lampert Bio | Wiki
Eddie Lampert (Full Name: Edward Scott Lampert ) is a popular American billionaire businessman who is now a Hedge fund manager. Previously, Eddie worked as the CEO and chairman of Sears Holdings (SHLD). He was also the creator of Transform Holdco LLC; and creator, chairman, and CEO of ESL Investments. Until May 2007, Eddie worked as a director of AutoNation. In addition, Eddie was a director of AutoZone from 1999 until 2006.
As of October 2021, Eddie’s net worth was estimated at US$2 billion. In July 1984, Eddie served as an intern at Goldman Sachs and later worked in the firm’s risk arbitrage department from March 1985 until February 1988. While there, Eddie served directly with Robert Rubin. When Eddie decided to go out on his own, Robert cautioned him it would be a bad career decision.
Eddie Lampert Age
Eddie was born on July 19, 1962, in Roslyn, New York, in the United States. He is 61 years old. Eddie celebrates his birthday on July 19, every year.
Eddie Lampert Height
He is a man of average stature. Eddie stands at a height of 5 ft 8 in ( Approx. 1.72m ).
Eddie Lampert Family
He was born in Roslyn, New York, the son of Dolores Lampert and Floyd M. Lampert. Eddie is Jewish. Eddie’s mother was a housewife while his dad worked as a senior partner in the law firm of Lampert & Lampert in New York City. Eddie has a younger sister named Tracey. His grandmother worked as a passive investor and a fan of Louis Rukeyser’s Wall Street Week television program. Eddie’s grandmother instilled in him an interest in investing. In 1977, Eddie’s father died and his mother took a job as a clerk at Saks Fifth Avenue.
Eddie Lampert Wife
Eddie is married to his wife Kinga Lampert who works as an attorney. The two married in 2001 and have three children. Edie and his wife Kinga possess houses in Indian Creek Village, Florida, and Greenwich, Connecticut. They are also active members of their local Chabad house.
Eddie Lampert Education
After completing his primary and high school education, Eddie went to Yale University where he was a member of Skull and Bones and Phi Beta Kappa. Eddie graduated in 1984 earning a bachelor’s degree in economics, summa cum laude.
Eddie Lampert Sears | Holdings
It was reported in January 2013, that Eddie would take over as chief executive officer at Sears following Louis D’Ambrosio stepped down because of family health matters, which took effect in May 2013. In July 2016 Eddie held 28% of shares in Sears Holdings Corp worth approximately $408 million.
In early 2017, Eddie, then president, chief executive officer as well as top shareholder of Sears Holdings, became estimated to have personal assets of $2 billion, primarily in the hedge fund ESL Investments Inc. Recently in the year, Eddie committed to providing an additional loan of $500 million to Sears and claimed he would provide letters of credit to Sears for more amounts, reportedly worth $200 million and possibly adding to a half billion dollars in the future.
Eddie has been condemned by employees and corporate staff for “shredding” his employees in corporate functions and “being out of touch with reality,” and for failing to invest in the physical stores, as most of them are deteriorating. Over his time as CEO, Sears lost around half its value within five years and closed over half of its physical stores.
On October 15, 2018, Eddie stopped working as CEO of Sears Holdings, while remaining chairman of the board, as part of Sears Holdings bankruptcy actions. On December 6, 2018, Eddie, through his company ESL Investments, donated to buy all of Sears for $4.6 billion in cash and stock. That offer would be financed by $950 million in added debt, but no more cash. As for the company filing, Eddie stopped working as chairman of Sears Holdings Corp on February 14, 2019.
Eddie Lampert Yacht
He owns the Fountainhead, an 87.78 m (288 ft) motor luxury yacht.
Eddie Lampert House | House Miami
He and his wife Kinga reside in a large house in Greenwich, Connecticut. Their house is situated close to New York City. The two also own a US$ 40 million mansion on the Indian Creek Golf Club Island in Miami, Florida. Eddie has also listed his seven-bedroom, 7.5-bathroom mountain mansion for $35 million.
Eddie Lampert News
As of 2023 updates are that Eddie’s Sears case won’t go to Supreme Court. In March 2023, Supreme Court delivered a hard stop to issues made by Eddie and other lenders looking to get more money out of what is termed as of the beleaguered retailer.
Eddie Lampert Kmart
He worked as the C.E.O. of Sears Holdings, the company that then owned Sears and Kmart. In 2005, Eddie’s discount retailer, Kmart, acquired Sears in an $11 billion deal that created what Eddie hoped would be a formidable rival to Walmart.
Eddie Lampert Destroyed Sears
In 2018, he was forced to shed some Sears shares to cover the redemptions. (ESL’s annualized return since inception is still 12 percent, as for Bloomberg — which means the fund has lost almost 6 percent annually beginning in 2005, given the 29 percent annualized gain until that time, as for an Institutional Investor calculations.)
Eddie Lampert Reddit
Like a leech, he actually profited off his termination of Sears – over $1.4 billion-plus real estate, while costing others several billions.
Eddie Lampert Blog
On his Sears blog, Eddie called it a “game-changing agreement.” But critics branded the Sears blog as just the latest example of Eddie’s selling off the company’s assets in a desperate attempt to stave off the inevitable.
Eddie Lampert Esl
In April 1988, Eddie left Goldman Sachs bank to create ESL Investments, based in Greenwich, Connecticut (the name ESL derives from Lampert’s initials). Richard Rainwater, whom Eddie had met on Nantucket Island, offered him $28 million in seed money and presented him to clients, like David Geffen.
Eddie Lampert Net Worth
Eddie gets his wealth from his work as a billionaire businessman working as a Hedge fund manager. Therefore, Eddie has accumulated a decent fortune over the years. Eddie’s net worth is $2.1 billion.
Eddie Lampert Net Worth 2021
He worked as a director of AutoZone from 1999 until 2006. As of October 2021, Eddie’s net worth was at US$2 billion.
Did Eddie Lampert Make Money On Sears
On top of Seritage, Eddie, and ESL have also earned $400 million in interest income from their loans to Sears. Due to such dealings — which include five major asset sales and 15 financings — ESL has not lost the entire $1.5 billion it invested in Sears and Kmart equity.
How Old Eddie Lampert
Eddie is a 61-year-old who was born on July 19, 1962, in Roslyn, New York, in the United States. Eddie celebrates his birthday on July 19, every year.
Who Is Eddie Lampert
He is an American billionaire businessman working as a Hedge fund manager. Eddie is a retired CEO and chairman of Sears Holdings (SHLD) and the creator of Transform Holdco LLC. From 1999 until 2006, Eddie worked as a director of AutoZone.