Early Life
Randolph David Lerner was born on February 21, 1962, in New York City, to Alfred and Norma Lerner. He is a member of a Jewish family. He graduated from Columbia University in 1984 and later attended Columbia Law School.
Rise to Success
Lerner began his career as an investment analyst at the Progressive Corporation. His father, Alfred Lerner, had been appointed chairman of MBNA Corporation. In 1991, his father started Securities Advisors, Inc. (SAI), and Randolph became a director. Upon his father's death in 2002, Randolph Lerner became the chairman of MBNA Corporation. Bank of America acquired MBNA Corporation in January 2006 for $35 billion.
Key Business Strategies
Lerner's business acumen is evident in his strategic investments and leadership roles. He owned the Cleveland Browns from 2002 and Aston Villa F.C. from 2006. He sold the Cleveland Browns to Jimmy Haslam III for $1 billion in 2012 and sold Aston Villa in 2016.
Philanthropy
Lerner has supported the UK's National Portrait Gallery and has been a major benefactor to Clare College, Cambridge. He is also involved in The Lerner Foundation, which supports organizations related to Judaism and education.