Early Life
Randolph David Lerner was born on February 21, 1962, in Brooklyn, New York, to a Jewish family. He is the son of Al Lerner, who made his fortune in the credit card industry and was also the former owner of the Cleveland Browns. Randolph Lerner spent a year at Clare College, Cambridge, in 1983 before graduating from Columbia University in 1984. He later attended Columbia Law School and worked as a lawyer.
Rise to Success
Lerner began his career as an investment analyst at Progressive Corporation. In 1991, his father established Securities Advisors, Inc. (SAI), an investment firm where Randolph later became a director. Following his father's death in 2002, Randolph Lerner became the chairman of MBNA Corporation. Bank of America acquired MBNA Corporation in 2006 for $35 billion.
Key Business Strategies
Lerner's key business ventures included ownership of sports teams like the Cleveland Browns (NFL) from 2002 to 2012, and Aston Villa F.C. (Premier League) from 2006 to 2016. Lerner sold Aston Villa in 2016 following the club's relegation. His business decisions have often involved significant investments and changes in management structures, particularly in the sports industry.
Philanthropy
Randolph Lerner has supported philanthropic causes, particularly the UK's National Portrait Gallery. He also contributed to Clare College, Cambridge, funding a new residential accommodation block named "Lerner Court."
