Edward S. Lampert: Close Up
A look at the financier’s path from Wall Street fast track to retail ruin.
• Lampert is born on July 19,1962, in Roslyn, N.Y.
• He graduated from Yale, summa cum laude, in 1984 with a B.A. in economics.
• Lampert marries Kinga Lampert in 2001. They have three children.
• From 1985 to 1988 he works with Robert Rubin in the Goldman Sachs risk arbitrage department.
• In 1988, he becomes founder, chairman and chief executive officer of ESL Investments, which was started with $28 million in seed money from Richard Rainwater.
• The hedge fund grows to $9 billion.
• In 2003, he brings Kmart Holdings Corp. out of bankruptcy by acquiring a controlling stake for $1 billion.
• The same year, Lampert escapes from kidnappers after being held for two days.
• In 2004, his earnings top $1 billion. He is believed to be the first Wall Streeter to hit the mark in a single year.
• In 2006, Lampert makes Time 100 list as one of the most influential individuals in the world who leads a new group of activist hedge funds.
• In 2012, Lampert makes the Forbes list — at number 367 — of the world’s wealthiest individuals with a net worth of $3.1 billion.
• In 2013, Lampert adds the title of ceo at Sears Holdings in addition to chairman.
• In 2015, Lampert falls to number 628 on the Forbes list of the world’s wealthiest people.
• Lampert was the largest shareholder in the Sears Canada business at the time of the company’s liquidation in 2017. That summer, the company filed for bankruptcy protection.
• October 2018, Sears announces it is filing for bankruptcy protection and Lampert steps down as ceo of Sears Holdings, but remains chairman.