American billionaire Thomas Lee has died.
Lee died aged 78 on Thursday, February 23, his family said in a statement, noting they were "extremely saddened by his death".
They, however, did not mention the cause of his death.
The BBC reported that police responded to a 911 call shortly after 11am GMT (2pm East Africa Time) on Thursday from an office on Fifth Avenue in Manhattan, New York.
"Upon arrival, EMS [Emergency Medical Services] responded and pronounced the male deceased at the scene," police said as quoted by the BBC.
A statement by family spokesperson Michael Sitrick said: "While the world knew him as one of the pioneers in the private equity business and a successful businessman, we knew him as a devoted husband, father, grandfather, sibling, friend and philanthropist who always put others' needs before his own."
Lee's net worth was estimated to be $2 billion (Sh252.8 billion) by the time of his death.
In 1992, he acquired beverage company Snapple and sold it two years later (1994) to Quaker Oats for $1.7 billion (Sh26.9 billion), which was 32 times the amount of money he had used to buy the firm.
Lee was also a philanthropist, who served as a trustee for New York City art organisations such as Lincoln Center for the Performing Arts and the Museum of Modern Art.
In 1996, he donated $22 million (Sh348.9 million) to his alma mater Harvard University, part of which was used to provide financial aid to needy students.
