Who is Lee Anderson?
Lee Anderson was the owner of the API Group, which he sold in 2019 for $3 billion. He was born in June 1939. He is married to Penny Anderson. They have 2 children: Katharine and Andy. He is the owner of the yacht Katharine.
The API Group is a holding company. The company is active in construction, energy, and safety. The group was founded in 1926 by Anderson’s father.
The company started as a small insulation contracting and distribution company. It was named Asbestos Products Inc. (API. It turned into one of the largest specialty contractors in North America.
API is now a holding company for more than 40 independently managed life safety, energy, specialty construction, and infrastructure companies. It has more than 200 locations worldwide. Investments include the American Fire Protection Group, United Piping, and the API Construction Company.
Api Group is the second-largest supplier of Life Safety Services in the United States. And it is the largest in Canada.
In 2019 API was sold for US$ 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.
How Much is Lee Anderson Net Worth?
His net worth is estimated at $3 billion. Although we wouldn’t be surprised if the amount is much higher. Anderson is an art collector, owning a painting by Monet and Renoir.
Lee and his wife Penny Anderson are active philanthropists. In 2007 Anderson donated US$ 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.
In 2023 they donated another $75 million to build a new basketball and hockey arena at the University of St. Thomas. The Lee and Penny Anderson Arena will hold about 4000 patrons for hockey, 5000 for basketball and 6000 for concerts and university commencements
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