Richard Fuld

Richard Fuld's House - Greenwich, Connecticut.

Richard Severin Fuld Jr. was born on April 26, 1946, in New York City to Jewish parents. He attended Wilbraham & Monson Academy, where he gained his high school diploma. Fuld joined Lehman Brothers in 1969 as a commercial-paper trader and earned his reputation running the firm's fixed-income business. In the early 1980s, Fuld became the supervisor of both the fixed-income and the equities divisions, overseeing all trading at Lehman. Fuld transformed Lehman from a bond house into a major investment banker over a 30-year career. Fuld took the helm of Lehman Brothers when it was spun-off by American Express in 1994. Fuld held the position of chairman and CEO of Lehman Brothers from the firm's 1994 spinoff from American Express until 2008. Lehman Brothers filed for bankruptcy protection under Chapter 11 on September 15, 2008, and subsequently announced the sale of major operations to parties including Barclays Bank and Nomura Securities. Fuld was named in Time's "25 People to Blame for the Financial Crisis" list and in CNN's "Ten Most Wanted: Culprits of the Collapse".

Fuld was nicknamed "the gorilla" for his intimidating presence. Despite the controversy surrounding his role in the 2008 financial crisis, Fuld remains a prominent figure in the world of finance and business. Fuld still owns a mansion in Greenwich, Connecticut, which he purchased in 1992. Fuld also owns a mansion in Jupiter Island, Florida, which he purchased in 2004 for $13.75 million. Fuld transferred ownership of his Florida mansion to his wife, Kathleen Fuld, after the 2008 financial crisis hit. Fuld is a member of the International Business Council of the World Economic Forum and the Business Council. He also serves on the Board of Trustees of New York-Presbyterian Hospital.

Property Overview

Richard Fuld's house in Greenwich, Connecticut is around $11 million. The eight-bedroom house was built in 1936 and purchased by Fuld in 1992 for $7.3 million. The house features a tennis court, a pool, and an indoor squash court. The annual property taxes for the house are $70,000, which is twice the average for the area. Fuld still owns the house, despite selling his other properties after the 2008 financial crisis. The house has been described as a "bunker" due to its secluded location and high security measures.