Randolph Lerner
Cleveland, Ohio
Bachelor of Arts/Science, Columbia University | LLB, Columbia University
United States
banking, credit cards
$1,100,000,000
1941
#1941 Billionaires 2019
The Richest Person In Americas 50 Largest Cities 2016
Randy Lerner owes his fortune to his billionaire dad, Al Lerner (d. 2002), who made a fortune in credit cards.His father got his start as a furniture salesman then invested in Cleveland-area real estate. He later bought control of Equitable Bancorp in 1981.Equitable Bancorp merged with Maryland National to form credit card giant MBNA, which was acquired by Bank of America for $35 billion in 2005.
The Lerners bought the Cleveland Browns in 1999, bringing pro football back to the city. They sold the team to billionaire Jimmy Haslam for about $1 billion in 2012. Lerner and his family sold the English football club Aston Villa for $88 million to Chinese businessman Tony Xia in 2016 after a decade of ownership.
57
4
Add a review