Richard Severin Fuld Jr. is a New York City-born American business personality as well as a banker, who is perhaps best known for being the final chairman and CEO of Lehman Brothers. Born on 26 April 1946, Fuld is also known by the nickname “Gorilla” on Wall Street for his competitiveness. He has been active in his career as a businessperson since 1969.
One might wonder how rich is Fuld? As estimated by sources, Richard counts his net worth at an amount of $200 million, as of early 2017, acquired mainly from his career as the CEO of Lehman Brothers. He was considered as the number one CEO by Institutional Investor magazine in 2006, as he helped the company to recover from its yearly loss. Being the CEO of Lehman brothers, he helped the company gain a net $4.2 billion in 2007 after fourteen years of continuous profits. The company however filed for bankruptcy a year later, after which he was replaced by Bart McDane.
Richard Fuld Net Worth $200 million
Raised in New York in a Jewish family, Fuld is a second cousin of Sam Fuld, an Oakland Athletics outfielder. He received his BA and BSc from the University of Colorado, Boulder, in 1969, and then completed his MBA at New York University’s Stern School of Business four years later; he was also president of the Alpha Tau Omega fraternity. Fuld started his career as an Air Force pilot, but he quit after he got into a fistfight with his commanding officer.
For his time as the CEO of Lehman Brothers from 1994, where he started his career in 1969, Fuld was praised at first for his capability to manage the mortgage crisis of his company well. However, he was later criticized for not completing deals that if carried out properly, could have eventually rescued the company from bankruptcy. After Lehman, in 2009 Fuld joined Matrix Advisors, but a year later was registered as employed by Legend Securities in New York, but he quit the firm in early 2012. In July 2015, Matrix Company had grown with Fuld as the leader of the firm, which focused on small and medium-sized enterprises. His firm provides advice to private enterprises in various fields of business strategies. His firm became such a success that it added millions of dollars to his net worth over the years.
Fuld has also been portrayed in different films and dramas, including television film “The Last Days OF Lehman Brothers” which starred James Cromwell, Ben Daniels and Corey Johnson among others, and “Too Big To Fall” starring William Hurt and Edward Asner and many more. He also appeared in the 2010 documentary “Inside Job”, and a theatrical film “Margin Call” released in October 2011 portrayed a character inspired by Fuld. The bank shown in the movie also resembled Lehmann Brothers to some extent. Following the financial crisis of 2007-8, he was ranked as the worst American CEO of all time in 2009 by Conde Nast Portfolio.
In his personal life, Richard is married to Kathleen Ann Bailey, and they have three children. Fuld had his 71 acres of Sun Valley Estate for auction, valued at around $50 million but sold for just over $20 million.
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