Edward Lampert
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| Edward "Eddie" Lampert | |
|---|---|
| Born | July 19, 1962 Roslyn, New York |
| Occupation | Businessman, investor |
| Net worth |  $3.6 Billion USD (2011)[1] |
Edward S. "Eddie" Lampert (born July 19, 1962)[2] is an American businessman and investor. He is the chairman of Sears Holdings Corporation (SHLD) and founder, chairman, and CEO of ESL Investments. Until May, 2007 he was a director of AutoNation, Inc.[3] He previously served as a director of AutoZone, Inc. from July 1999 to October 2006.[4]
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[edit] Early Life and Education
Lampert graduated from Yale University in 1984 (B.A., economics, summa cum laude), where he was a member of Skull and Bones[5][6] and Phi Beta Kappa.
[edit] Business Career
In July 1984, Lampert worked as an intern at Goldman Sachs, and then worked in the firm's risk arbitrage department from March 1985 to February 1988. While there, he worked directly with Robert Rubin. When Lampert decided to go out on his own, Rubin warned him it would be a bad career decision.
In April 1988, Lampert left the bank to form ESL Investments, based in Greenwich, Connecticut (The name ESL derives from Lampert's initials). Richard Rainwater, whom Lampert had met on Nantucket Island, gave him $28 million in seed money and introduced him to clients, such as David Geffen.
Lampert's investment style can best be described as "concentrated value", often focusing on the retail sector. Lampert typically holds his investments for several years and usually has between three and fifteen stocks in his portfolio. His investment style has drawn comparisons to the financier Warren Buffett.[2] Lampert is credited with forming and merging Kmart and Sears into Sears Holdings.
Lampert's earnings in 2004 were estimated to be $1.02 billion, making him the first Wall Street financial manager to exceed an income of $1 billion in a single year.[7] In 2006, Lampert was the richest person in Connecticut with a net worth of $3.8 billion.[8]
Lampert's earnings in 2006 were estimated to be from $1.0 billion to $1.5 billion.
[edit] Kidnapping
In 2003, Lampert was kidnapped from the parking lot of his Greenwich office, but was able to convince his captors to let him go after two days of captivity.[5]
[edit] References
- ^ "Forbes 400". Forbes. 2010-Sept. http://www.forbes.com/profile/edward-lampert. Retrieved 2010-09.
- ^ a b Berner, Robert (2004-11-22). "The Next Warren Buffett?" (PDF). BusinessWeek: pp. 144–148;152,154. http://www.anderson.ucla.edu/documents/areas/adm/loeb/05d42.pdf. Retrieved 2007-04-14.
- ^ Miller, James P. (2007-03-26). "Sears chief won’t run for AutoNation’s board". Chicago Tribune. http://www.chicagotribune.com/business/chi-070326lampert,1,2751267.story. Retrieved 2007-04-17.
- ^ "SEC filing". AutoZone, Inc. http://www.sec.gov/Archives/edgar/data/866787/000089375006000283/sch13d.txt. Retrieved 2007-04-16.
- ^ a b Berner, Robert (2004-11-22). "The Next Warren Buffett?". BusinessWeek.com. http://www.businessweek.com/magazine/content/04_47/b3909001_mz001.htm. Retrieved 2007-04-14.
- ^ Alexandra Robbins, Secrets of the Tomb: Skull and Bones, the Ivy League, and the Hidden Paths of Power, Little, Brown and Company, 2002, page 180
- ^ Martin, Patrick (2005-06-09). "Highest Wall Street pay tops $1 billion a year". http://www.wsws.org/articles/2005/jun2005/hedg-j09.shtml. Retrieved 2007-04-14.
- ^ "The 400 Richest Americans (Connecticut Rankings)". Forbes.com. 2006-09-21. http://www.forbes.com/lists/2006/54/biz_06rich400_The-400-Richest-Americans-Connecticut_7Rank.html.
[edit] External links
- SHC: Chairman's Messages to Shareholders (Previous years)
- Cramer, James J., Blue-Light Specialist: A conversation with Eddie Lampert, New York magazine (December 6, 2004)
- Edward S. Lampert of ESL Investments explains his thinking on the Kmart deal
- The man behind the deal, CNNMoney.com (November 17, 2004)
- 1962 births
- American billionaires
- American financiers
- American investors
- American businesspeople in retailing
- American financial analysts
- Goldman Sachs people
- American hedge fund managers
- Sears Holdings Corporation people
- Kidnapped American people
- Kidnapped businesspeople
- Living people
- People from Greenwich, Connecticut
- People from Long Island
- Stock and commodity market managers
- American stock traders
- Yale University alumni
