Famed billionaire financier Thomas H. Lee, who committed suicide last month, listed just $25 million worth of his assets in his will.

Lee, who was 78 when he died, is estimated to be worth $2 billion, so the $25 million allocated in his will would be a small fraction of his true net worth, the New York Post reported, citing court records. Lee named his wife, Ann Tenenbaum, whom he had been married to for nearly 30 years, as the executor of his estate. She will also inherit his residences, including an apartment in New York City’s upscale Sutton Place neighborhood and an estate in East Hampton. She will also inherit all of his personal “tangible” property, including furniture, artwork, jewelry, cars, and more.

The bulk of the $25 million was left to Lee’s two sons, 52-year-old Stephen and 42-year-old Robert, who each received $10 million. Lee wrote that his sons would receive nothing else, “not for any lack of love or affection for each of them but because they are otherwise well provided for.”

Lee has three additional children, who are listed as the beneficiaries of trusts, and it is unclear how much those trusts are worth.

Lee was discovered dead shortly after 11 a.m. on February 23 by an assistant who went looking for him when people hadn’t heard from him. First responders found Lee lying on his side with a self-inflicted gunshot wound to his head, law enforcement sources told The New York Post. A Smith & Wesson revolver registered and licensed to Lee was found at his side.

“We are profoundly saddened by the unexpected passing of our good friend and former partner, Thomas H. Lee,” said a statement issued by the company Lee founded in 1974. “Tom was an iconic figure in private equity. He helped pioneer an industry and mentored generations of young professionals who followed in his footsteps.”

It is unclear why Lee committed suicide.

“The family is extremely saddened by Tom’s death,” family friend and spokesperson, Michael Sitrick, said in a statement. “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. Our hearts are broken.”

Lee was married with five children and “one of the most generous, and kindest people [I] ever met,” a source who knew him told the Post.

The source also said that Lee “was regarded as having one of the most admired houses in the Hamptons — Bill and Hillary Clinton were frequent guests, they would regularly stay there.”

Lee was known for his successful use of leveraged buyouts, or LBOs, CNN reported. LBOs involve a buyer borrowing money to make a purchase of a company, and then selling that company in a relatively short period for a higher price, sometimes through another buyer, or by taking the company public, CNN reported.

One of Lee’s most famous and lucrative deals was his acquisition of Snapple in 1992, which he purchased for $135 million. He then sold it two years later to Quaker Oats for $1.7 billion. He did this by reportedly increasing the company’s sales and revenue from $95 million a year to $750 million. When Quaker sold Snapple after purchasing it from Lee, the company lost $1.4 billion in the deal.

Lee was considered a rarity in the industry since his firm didn’t take the usual steps to increase an acquired company’s worth before selling, such as greatly cutting costs or implementing mass layoffs.

The National Suicide Prevention Lifeline is a free hotline for individuals in crisis or distress or for those looking to help someone else. It is available 24/7 at 1-800-273-8255.

Michigan Democratic Gov. Gretchen Whitmer enacted legislation repealing right-to-work laws in the state on Friday, the first time such laws have been overturned in five decades.

The right-to-work measures had allowed residents to decline union membership in their workplaces and exempted them from being forced to pay union dues. Whitmer and other Democrats nevertheless celebrated the repeal, which marks a major victory for labor unions.

“Today, we are coming together to restore workers’ rights, protect Michiganders on the job, and grow Michigan’s middle class,” Whitmer said. “These bills will protect health and safety, ensuring healthcare workers can put patient care ahead of profit, construction workers can speak up when there’s a safety issue, and employees can call attention to food safety threats and other problems. Let’s continue delivering for working people.”

Michigan Democrats assumed control of the governor’s mansion and both chambers of the legislature for the first time since 1983 after the midterm elections, enabling them to repeal the right-to-work laws signed by former Republican Gov. Rick Snyder.

Unions have lost more than 143,000 members since the right-to-work laws entered into effect in 2012, according to an analysis from the Mackinac Center for Public Policy. There are now 26.5% fewer workers paying membership fees to the state’s largest unions; particularly severe losses occurred in the Service Employees International Union, which saw a nearly 66% decline in membership between 2012 and 2022, as well as the American Federation of State, County, and Municipal Employees, which saw a 49% decline. The American Federation of Teachers and the Michigan Education Association each witnessed 32% decreases in membership.

Whitmer, who won re-election in November, received at least $2.25 million from the National Education Association and the American Federation of Teachers. She previously received criticism for recommending the end of virtual instruction for the state’s government schools as late as March 2021.

House Republican Leader Matt Hall condemned the repeal of the right-to-work laws in a statement last week, asserting that the new legislation would deter firms from entering the state and thereby worsen employment outcomes.

“As Michigan struggles to compete for businesses and high-paying careers, Democrats are dead set on pushing forward their pay cut plan that would set our state, our workers, and our economy further behind. I’ve spoken to businesses looking to invest in Michigan and heard firsthand how repealing right-to-work would turn businesses away and let high-paying careers go to other states.”

One recent poll from the Mackinac Center found that 58% of voters supported the right-to-work laws, while only 29% opposed them. Some 71% of Republicans and right-leaning independents in Michigan supported the laws, while the 46% of Democrats and left-leaning independents who supported the laws outnumbered the 40% of their counterparts who were opposed.

Whitmer and allied Democratic lawmakers have also prioritized new gun control measures following their takeover of the legislature. One bill would institute a red flag law under which a judge could authorize the seizure of firearms from someone who is believed to be a risk to themselves or others. The legislation proposes to “provide for the issuance of restraining orders prohibiting certain individuals from possessing or purchasing firearms and ordering the surrender and seizure of a restrained individual’s firearms.”