Dead Billionaire’s Will Only Accounts for $25 Million

Thomas H. Lee, a billionaire corporate trader, shot himself in the head in his New York City office last month. Now, his will has been made public, and it only gives away $25 million of his wealth. What are they going to do with the rest?

On February 23, the staff at Thomas H. Lee Capital Inc. on Fifth Avenue called the police because they hadn’t heard from their boss in hours. Lee’s body was on the floor of his office on the sixth floor. He had been shot in the head, and a Smith & Wesson revolver was next to him. The medical examiner in New York City said that he killed himself. Lee was a friend of former president Bill Clinton, and he was known for buying struggling mid-sized companies and selling them for huge profits. Forbes magazine put his net worth at around $2 billion.

Now, the New York Post has said that Lee’s will only gives his relatives $25 million. Most of that will go to his two sons, who will each get $10 million. Lee made a trust for his other three children, but his will doesn’t say much about it.

Ann Tetenbaum, who was married to Lee, is the other big winner. She gets all of his homes, including an East Hampton estate that could be worth more than $100 million. She will also take over his “tangible” property, which includes art, silver, cars, books, and furniture, none of whose values are listed.

Based on the documents held by the Manhattan Surrogate Court, Lee had a lot less money than was thought. Documents show that he had $5 million in cash and bonds, $5 million each in real estate and business assets, and $10 million in “tangible personal property” that goes to Tetenbaum. People who knew him doubt that this is all he owned. Tetenbaum, who was named as the executor of his estate, is the only person who is likely to know how much he was really worth. That means she will not only know what Lee’s real assets were, but she will also have a lot of power over where it goes from here.