Billionaire Thomas Lee, who created the idea of a leveraged buyout, died on Thursday at the age of 78, a spokesperson for his family said. Michael Sitrick, a family friend, said in a statement that the family is “extremely saddened” by Lee’s death. “While the world knew him as one of the pioneers in the private equity business and a successful businessman, we knew him as a devoted husband, father, grandfather, sibling, friend and philanthropist who always put others' needs before his own,” Sitrick said. “Our hearts are broken. We ask that our privacy be respected and that we be allowed to grieve." Multiple outlets reported that Lee died by apparent suicide. The Wall Street Jou
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