Who is Lee Anderson?
He was the owner of the API Group, which he sold in 2019 for $ 3 billion. He was born in June 1939. He is married to Penny Anderson. They have 2 children: Katharine and Andy. He owns the yacht Katharine.
The API Group is a holding company. The company is active in construction, energy, and safety. The group was founded in 1926 by Anderson’s father.
The company started as a small insulation contracting and distribution company. It was named Asbestos Products Inc. (API. It turned into one of the largest specialty contractors in North America.
API is now a holding company to more than 40 independently managed life safety, energy, specialty construction and infrastructure companies. It has more than 200 locations worldwide. Investments include the American Fire Protection Group , United Piping, and the API Construction Company.
Api Group is the second-largest supplier of Life Safety Services in the United States. And it is the largest in Canada.
In 2019 API was sold for US$ 2.9 billion.
In the 80’s and ’90s, Anderson started buying local banks. In 20 years’ time, he bought 18 banks in central and northern Minnesota.
He 1997 he sold his banks for US$ 700 million and was paid in Wells Fargo shares. In the next year, these shares doubled in value. Anderson became a billionaire.
Anderson is also a real estate developer through A&L Properties. Which he founded with his business partner Rob Link.
Lee Anderson Net Worth
His net worth is estimated at US$ 3 billion. Although we wouldn’t be surprised if the amount is much higher. Anderson is an art collector, owning a painting by Monet and Renoir.
Lee and his wife Penny are active philanthropists. In 2007 Anderson donated US$ 60 million to the University of St. Thomas.
The gift was used to build a new student center named the Anderson Student Center. In 2011, the Andersons donated US$2.5 million for the building of the new Defenders Lodge. It is a facility for veterans seeking care at the Department of Veterans Affairs.