Eddie Lampert Biography
Eddie Lampert is an American billionaire businessman and investor who is known as the former CEO and chairman of Sears Holdings (SHLD).
Lampert is the former CEO and chairman of Sears Holdings (SHLD), founder of Transform Holdco LLC and founder, chairman, and CEO of ESL Investments. He was a director of AutoNation until May 2007. He previously served as a director of AutoZone, Inc. from July 1999 to October 2006.
Eddie Lampert Age
The American billionaire Lampert was born in Roslyn, New York, the United States on July 19, 1962.
Eddie Lampert Education
Lampert graduated from Yale University in 1984 (B.A., economics, summa cum laude), where he was a member of Skull and Bones and Phi Beta Kappa.
Eddie Lampert Family
Eddie is the son of Dolores Lampert and Floyd M. Lampert His mother was a housewife. His father was a senior partner in the law firm of Lampert & Lampert in New York City. Lampert was 14 years old when his father died. He has a younger sister Tracey.
Lampert’s grandmother was a passive investor and a big fan of Louis Rukeyser’s Wall Street Week television program. She instilled in him an interest in investing. His mother would later recall that young Eddie would sit with his grandmother reviewing and evaluating the performance of her stock picks in the daily newspaper. Lampert’s father died and his mother took a job as a clerk at Saks Fifth Avenue
Eddie Lampert Wife
In 2001, Lampert married Kinga Keh, an attorney with whom he has three children. They own houses in Indian Creek Village, Florida, in Aspen, Colorado and in Greenwich, Connecticut. The couple are active members of their local Chabad house.
Eddie Lampert Sears Holdings
Lampert was in January 2013, announced that he would take over as chief executive officer at Sears. This was after Louis D’Ambrosio stepped down due to family health matters.
In July 2016 he held 28% of shares in Sears Holdings Corp worth approximately $408 million. In early 2017, he was estimated to have personal assets of $2 billion, primarily in the hedge fund ESL Investments Inc.
He committed to providing an additional loan of $500 million to Sears. Also, Lampert said he would provide letters of credit to Sears for additional amounts, reportedly totaling $200 million and possibly increasing to a half-billion dollars in the future.
Lampert has been criticized by employees and corporate staff for “shredding” his employees in corporate meetings. He has also been criticized “being out of touch with reality,” as well as for failing to invest in the physical stores, as many of them are deteriorating. Sears lost around half its value within five years and closed more than half of its physical stores during his tenure.
Lampert stepped down as CEO of Sears Holdings, on October 15, 2018. He, however, remained the Chairman of the Board, as part of Sears Holdings bankruptcy actions.
He later on December 6, 2018, offered to buy all of Sears for $4.6 billion dollars in cash and stock through his company ESL Investments. The offer would be financed by $950 million in added debt, but no additional cash.
Five hundred stores remain in operation and the remainder are in liquidation. According to a company filing, Lampert stepped down as chairman of Sears Holdings Corp on February 14, 2019.
In January 2019, a group of Sears’ creditors hoping to persuade a federal judge to force Sears to liquidate alleged that Lampert had orchestrated a “multiyear and multifaceted scheme” to strip away the company’s assets and benefit from its decline.
Eddie Lampert Salary
CEO Eddie Lampert only gets a salary of $1 million a year to run the troubled retailer. But he does get a stock bonus, and for 2017 that bonus increased by $850,000, giving him a 24% raise. The 606,000 shares he received during the course of the year was more than double the 265,000 shares he received during 2016. But the value of Sears shares tumbled more than 60% during the course of last year.
Eddie Lampert Net Worth
The American billionaire businessman and investor Edward Scott Lampert has earned himself a good amount of money which can still be used by his grandchildren. He has an estimated net worth of around 1 billion US Dollars as of 2019.
Eddie Lampert House Greenwich
He lives in a large house in Greenwich, Connecticut. The house is situated close to New York City. And he also owns a US$ 40 million mansion on the Indian Creek Golf Club Island in Miami, Florida.
Eddie Lampert Yacht
Eddie is the owner of the yacht Fountainhead. His yacht Fountainhead is a sister ship of Larry Ellison’s Musashi. She can accommodate 14 guests and 20 crew. The yacht is often referred to as Marc Cuban’s yacht.
The yacht is a 88 meter (288ft) motor yacht built by Feadship in The Netherlands. The luxury yacht is powered by 4 MTU marine engines. These bring her a top speed of 21 knots.
We estimate her value at approx. US$ 130 million
Eddie Lampert Email
You can Email Mr. Edward S Lampert: