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Edward Lampert

Edward Scott Lampert is the founder, chairman, and CEO of ESL Investments. He is also the chairman and CEO of Sears Holdings.

Edward Lampert started his career at Goldman Sachs in 1984. He left the bank in 1988 to form ESL Investments in Greenwich, Connecticut. Edward Lampert received $28 million seed money from Richard Rainwater, whom he met on Nantucket Island. In 2013, he took over as CEO at Sears after Louis D’Ambrosio stepped down due to family health matters. Edward Lampert held 28% of Sears Holdings Corp shares worth approximately $408 million as of July 2016. ESL Investment had an AUM of $2.8 billion as of March 2016.

Edward Lampert was born in 1962 in Roslyn, New York. His father was a senior partner at Lampert & Lampert, the law firm in New York City. Edward Lampert’s grandmother instilled in him an interest in investing – young Eddie would sit with his grandmother reviewing and evaluating the performance of his grandmother’s stock picks in the daily newspaper. After his father’s death, Edward Lampert worked after school and on weekends at various warehouses to support his family. He graduated summa cum laude from Yale University in 1984 with a degree in economics.

Edward Lampert was #309 on Forbes 400 list in 2016 with an estimated net worth of $2 billion. In 2001, he married Kinga Lampert, and they have three children. Edward Lampert has homes in Miami Beach, Florida, Aspen, Colorado, and Greenwich, Connecticut. In 2003, Edward Lampert was kidnapped from the parking lot of his Greenwich office, but after two days of captivity his captors let him go.

Image Source: The New York Times
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1 Comment on Edward Lampert

  1. Ron Clayton // July 25, 2017 at 1:28 pm //

    Have been very disappointed in sears and how product issues are handled lately. First I have a craftsman tool two platform chest. The ball barring’s on the upper cabinet have fallen out. I contacted sears and was told that is over a year old and nothing can be done.

    Now I purchased a lawn mower in March 2017 and having issues with the engine smoking and racing up and down. The idle runs fast then slows, then fast then slow, ETC… Given it is only 4 month old I wanted store credit to purchase another mower. A different model because this model is a bad design from the training wheels size wheels to the useless self-propelled function. I was told 30 day return policy and that is it. Take it for repair. Repair of idle issue does nothing for poor design.

    I am not asking for money back but, store credit to put towards another style mower which would end up costing me more money in the end.

    I am so upset with sears that after 45+ years of a dedicated purchaser from washing machines, to dryers, to tools, to all my home and work needs I will NOT purchase anything else from sears. I will discourage my children, brothers, sisters, cousins , friends, anyone I know to skip sears as a place to purchase anything.

    Sears has been closing stores in my location an many other places and NOW I understand why sears is a failing corporation. What a shame to have such a well known and respected organization become a uncaring and unbending corporation. Shame on the leaders because the public cannot even email or call these unavailable leaders.

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