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United States Eddie Lampert is a prominent American investor and hedge fund manager, known for his strategic acquisitions and efforts to revitalize major retail chains.
Founder, ESL Investments Inc., a hedge fund founded in 1988, betting on undervalued stocks.
Former chief executive and chairman; Lampert's ESL Investments promised Sears nearly $1 billion in loans in the first 10 months of 2017. In October 2018, Sears Holdings filed for Chapter 11 bankruptcy. In January 2019 Lampert won an auction to keep the company, with a reported bid of more than $5 billion.
Founder of Transformco, which acquired the operating assets of Sears from Sears Holdings in 2019 after its bankruptcy.
Lampert began acquiring Kmart stock in 2003, and in 2005, he decided that Kmart should buy Sears. The merger formed what Lampert hoped would be a formidable rival to other retailers.
In an attempt to avert bankruptcy for Sears, Lampert originally tried to buy the Kenmore appliance brand for $400 million.
Served as a director of AutoZone from 1999 to 2006, demonstrating his investment interest in automotive retail.
Served as a director of AutoNation until May 2007. Related by financial asset. His investment firm ESL Investments holds a stake in AutoNation.
Worked as an intern in July 1984 and later in the firm's risk arbitrage department from March 1985 to February 1988.
Edward Scott Lampert, born in Roslyn, New York, on July 19, 1962, developed an early interest in finance. Following the passing of his father in 1977, his mother worked at Saks Fifth Avenue, and Lampert contributed by working various jobs after school and on weekends. This early experience in supporting his family shaped his focus and drive. He pursued higher education at Yale University, graduating summa cum laude with a bachelor’s degree in economics in 1984, where he was also a member of the elite Skull and Bones society.
Lampert began his professional career as an intern at Goldman Sachs in July 1984, transitioning to their risk arbitrage department from March 1985 to February 1988. During this period, he worked directly under Robert Rubin. In April 1988, Lampert established his own hedge fund, ESL Investments, Inc., based in Greenwich, Connecticut. He received initial seed money from Richard Rainwater and quickly gained a reputation for identifying undervalued stocks. His investment approach drew comparisons to that of Warren Buffett, and his firm consistently delivered strong annual returns. In 2004, his earnings were estimated at $1.02 billion, marking him as the first Wall Street financial manager to reach the $1 billion income milestone in a single year. By 2006, Forbes recognized him as the richest person in Connecticut, with a net worth of $3.8 billion, and he was named to the Time 100 list for his influence in the financial world.
Lampert’s career took a significant turn with his involvement in the retail sector. He began acquiring Kmart stock in 2003, followed by Sears shares in 2004. In 2005, he orchestrated the merger of these two retail giants, forming Sears Holdings Corp., and later assumed the role of CEO in 2013. His strategy involved restructuring Sears into distinct business units, a model that generated discussion and scrutiny. Despite his efforts, Sears Holdings faced significant financial challenges, leading to its Chapter 11 bankruptcy filing in October 2018. Lampert stepped down as CEO but remained chairman, and his company, ESL Investments, ultimately acquired Sears in a bankruptcy auction in January 2019. He later stepped down as chairman of Sears Holdings Corp. in February 2019 and became Chairman of Transform Holdco LLC.
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