Thomas Lee, American Billionaire and Pioneer of Private Equity, Dies by Suicide at Manhattan Office

According to a report in the New York Post, Thomas Lee, an American billionaire known as a pioneer of private equity investment and leveraged buyouts, died by suicide at the age of 78 in his Manhattan office on Thursday. Police responded to an emergency 911 call and found Mr Lee on the bathroom floor with a self-inflicted gunshot wound to the head. Despite life-saving efforts, he was declared dead at the scene.

Mr Lee was the Founder and Chairman of Lee Equity, which he established in 2006, and previously served as Chairman and CEO of Thomas H. Lee Partners, which he founded in 1974. He was also a trustee and philanthropist for various institutions such as the Lincoln Center, the Museum of Modern Art, Brandeis University, Harvard University and the Museum of Jewish Heritage.

In his over 46-year career, Mr Lee invested more than $15 billion in hundreds of deals, including the purchase and later sales of well-known brands such as Warner Music and Snapple Beverages. He was one of the first financiers to use money borrowed against a business entity to buy businesses, a strategy now referred to as a "leveraged buyout."

Thomas Lee's family friend and spokesperson, Michael Sitrick, stated that the family is "extremely saddened" by his death, adding that Mr Lee was a devoted husband, father, grandfather, sibling, friend, and philanthropist who always put others' needs before his own.