Edward Lampert

About Edward Lampert

Who is it?: Founder, ESL Investments Inc.
Birth Day: July 19, 1962
Birth Place: Miami Beach, Florida, United States
Birth Sign: Leo
Occupation: Businessman, investor
Spouse(s): Kinga Lampert (m. 2001)
Children: 3
Parent(s): Floyd M. Lampert Dolores Lampert

Edward Lampert Net Worth

Edward Lampert was bornon July 19, 1962 in Miami Beach, Florida, United States, is Founder, ESL Investments Inc.. After a stint at Goldman Sachs' risk arbitrage department, Lampert founded hedge fund ESL Investments in 1988, betting on undervalued stocks. Lampert took over struggling retail giant Sears Holdings (Sears, Kmart, Kenmore) as CEO in 2013, but the company's stock has tumbled since then. In the first 10 months of 2017, his ESL Investments promised Sears nearly $1 billion in loans. Struggling with declining sales, Sears announced in July 2017 that it would start selling its line of Kenmore-branded appliances on Amazon.
Edward Lampert is a member of Investments

💰 Net worth: $1.8 Billion (Updated at 22 June 2018)

2009 $2.5 Billion
2010 $3.1 Billion
2011 $3 Billion
2012 $3.2 Billion
2013 $2.9 Billion
2014 $3.1 Billion
2015 $2.7 Billion
2016 $2.3 Billion
2017 $2.1 Billion
2018 $1.57 Billion

Some Edward Lampert images

Biography/Timeline

1962

Lampert was born in 1962 to 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. He has a younger sister Tracey. Lampert's grandmother was a passive investor and 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.

1984

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.

1988

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.

2001

In 2001, he married Kinga Lampert and they have three children. They have homes in Indian Creek Village, Florida, Aspen, Colorado, and Greenwich, Connecticut. The couple are active members of their local Chabad house.

2003

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.

2004

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. In 2006, Lampert was featured on the Time 100 list for most influential people in the world for being one of the "brightest minds on Wall Street" and leading a new class of Activist hedge funds. Lampert was the richest person in Connecticut in 2006 with a net worth of $3.8 billion.

2006

Lampert's earnings in 2006 were estimated to be from $1.0 to $1.5 billion.

2012

In March 2012, Lampert was No. 367 on the Forbes world wealthiest people list with a net worth of $3.1 billion. By August, 2016, Lampert had fallen to No. 810 on the list, with a net worth of $2.2 billion.

2013

In January 2013, it was announced that Lampert would take over as chief executive officer at Sears after Louis D'Ambrosio stepped down due to family health matters, which took effect in May 2013. In July 2016 he held 28% of shares in Sears Holdings Corp worth of approximately $408 million.

2017

In early 2017, Lampert, then President, chief executive officer and top shareholder of Sears Holdings, was estimated to have personal assets of $2 billion, primarily in the hedge fund ESL Investments Inc. Early in the year, he committed to providing an additional loan of $500 million to Sears and 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.