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Forbes P.M.
By Forbes
By Forbes
=20
=20
Read this article on LinkedIn to join the conversation
Read on LinkedIn
https://www.linkedin.com/comm/pulse/mogul-made-800m-fortuneand-left-behind-=
trail-failed-businesses-puatc?lipi=3Durn%3Ali%3Apage%3Aemail_email_series_f=
ollow_newsletter_02%3B2ayw7n%2FDSn2sq%2BTDh8S8fQ%3D%3D&midToken=3DAQFAbKIss=
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Good evening, Wall Street dealmaker Leonard Tannenbaum has reaped hundreds =
of millions in fees from his debt-focused funds. But on his journey to the =
top, he has destroyed relationships and tanked businesses. =E2=80=9CHe want=
ed to become a billionaire before he was 40. He made no bones about that,=
=E2=80=9D said William Craig, Fifth Street=E2=80=99s CFO from 2007 until 20=
11, when Tannenbaum fired him. Here=E2=80=99s how Tannenbaum lined his pock=
ets over three decades. Thanks for reading! Kris Kornbluth Assistant Editor=
, Platforms & Curation More Recommended Reads AFP via Getty Images Trump Ap=
proval Rating: Below 40% In Latest String Of Polls Many surveyed say they e=
xpect the Iran war to continue for months. Office of Sen. Mitch McConnell M=
itch McConnell =E2=80=98Not Yet Medically Cleared=E2=80=99 For Senate Retur=
n, New Statement Says McConnell=E2=80=99s office has said he=E2=80=99s reco=
vering from a fall and bout of pneumonia.
Join the conversation
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ght: 600; line-height: 1.25; color: rgba(0, 0, 0, 0.9);"> Read this article=
on LinkedIn to join the conversation </span> </div> <table role=3D"present=
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text-decoration: none; -webkit-text-size-adjust: 100%; -ms-text-size-adjust=
: 100%; vertical-align: top; text-decoration-line: none;"> <table role=3D"p=
resentation" valign=3D"top" border=3D"0" cellspacing=3D"0" cellpadding=3D"0=
" width=3D"auto" class=3D"border-separate " style=3D"-webkit-text-size-adju=
st: 100%; -ms-text-size-adjust: 100%; mso-table-lspace: 0pt; mso-table-rspa=
ce: 0pt; border-collapse: separate;"> <tbody> <tr> <td class=3D"btn-sm btn-=
primary border-color-brand button-link leading-regular !min-h-[auto] !shado=
w-none border-1 border-solid" style=3D"-webkit-text-size-adjust: 100%; -ms-=
text-size-adjust: 100%; mso-table-lspace: 0pt; mso-table-rspace: 0pt; heigh=
t: min-content; border-radius: 24px; padding-top: 7px; padding-bottom: 7px;=
padding-left: 16px; padding-right: 16px; text-align: center; font-size: 14=
px; font-weight: 600; cursor: pointer; text-decoration-line: none; backgrou=
nd-color: #0a66c2; color: #ffffff; border-width: 1px; border-style: solid; =
border-color: #0a66c2; line-height: 1.25; min-height: auto !important; box-=
shadow: 0 0 #0000, 0 0 #0000, 0 0 #0000 !important;"> <a href=3D"https://ww=
w.linkedin.com/comm/pulse/mogul-made-800m-fortuneand-left-behind-trail-fail=
ed-businesses-puatc?lipi=3Durn%3Ali%3Apage%3Aemail_email_series_follow_news=
letter_02%3B2ayw7n%2FDSn2sq%2BTDh8S8fQ%3D%3D&midToken=3DAQFAbKIssAVDrw&=
amp;midSig=3D23HKqzrZUB_Yk1&trk=3Deml-email_series_follow_newsletter_02=
-newsletter_content_preview-0-read_more_banner_cta_&trkEmail=3Deml-emai=
l_series_follow_newsletter_02-newsletter_content_preview-0-read_more_banner=
_cta_-null-wis8f~ms3qd3tk~mc-null-null&eid=3Dwis8f-ms3qd3tk-mc" target=
=3D"_blank" tabindex=3D"-1" aria-hidden=3D"true" class=3D"no-underline" sty=
le=3D"color: #0a66c2; cursor: pointer; display: inline-block; text-decorati=
on: none; -webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; text-=
decoration-line: none;"> <span class=3D"no-underline text-white" style=3D"c=
olor: #ffffff; text-decoration-line: none;"> Read on LinkedIn </span> </a> =
</td> </tr> </tbody> </table> </a> </td> </tr> </tbody> </table> </div> </t=
d> </tr> <tr data-test-id=3D"newsletter-content-preview--content"> <td clas=
s=3D"font-sans text-md leading-open text-system-gray-90" style=3D"-webkit-t=
ext-size-adjust: 100%; -ms-text-size-adjust: 100%; mso-table-lspace: 0pt; m=
so-table-rspace: 0pt; font-family: -apple-system, system-ui, BlinkMacSystem=
Font, 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'O=
xygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji'=
, 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, s=
ans-serif; font-size: 16px; line-height: 1.5; color: #282828;"> <div data-t=
est-id=3D"publishing-text-block"> <p class=3D"m-0 mt-1.5 text-md leading-op=
en" style=3D"font-weight: 400; margin: 0px; margin-top: 12px; font-size: 16=
px; line-height: 1.5;"> <span class data-test-id=3D"little-text-block">Good=
evening,</span> </p> </div> <div data-test-id=3D"publishing-text-block"> <=
p class=3D"m-0 mt-1.5 text-md leading-open" style=3D"font-weight: 400; marg=
in: 0px; margin-top: 12px; font-size: 16px; line-height: 1.5;"> <span class=
data-test-id=3D"little-text-block">Wall Street dealmaker Leonard Tannenbau=
m has reaped hundreds of millions in fees from his debt-focused funds. But =
on his journey to the top, he has destroyed relationships and tanked busine=
sses. =E2=80=9CHe wanted to become a billionaire before he was 40. He made =
no bones about that,=E2=80=9D said William Craig, Fifth Street=E2=80=99s CF=
O from 2007 until 2011, when Tannenbaum fired him. </span><span class data-=
test-id=3D"little-text-block"><a href=3D"https://www.forbes.com/sites/johnh=
yatt/2026/07/27/how-private-credits-master-of-disaster-made-an-800-million-=
fortune/?utm_campaign=3Dforbes_pm&utm_medium=3Dsocial&utm_source=3D=
linkedin_newsletter" target=3D"_blank" class=3D"inline no-underline cursor-=
pointer text-color-link font-bold" data-test-id=3D"publishing-text-block-li=
nk" style=3D"text-decoration: none; -webkit-text-size-adjust: 100%; -ms-tex=
t-size-adjust: 100%; display: inline; cursor: pointer; font-weight: 600; co=
lor: #0a66c2; text-decoration-line: none;">Here=E2=80=99s how Tannenbaum li=
ned his pockets</a></span><span class data-test-id=3D"little-text-block"> o=
ver three decades.</span> </p> </div> <div data-test-id=3D"publishing-text-=
block"> <p class=3D"m-0 mt-1.5 text-md leading-open" style=3D"font-weight: =
400; margin: 0px; margin-top: 12px; font-size: 16px; line-height: 1.5;"> <s=
pan class data-test-id=3D"little-text-block">Thanks for reading!</span> </p=
> </div> <div data-test-id=3D"publishing-text-block"> <p class=3D"m-0 mt-1.=
5 text-md leading-open" style=3D"font-weight: 400; margin: 0px; margin-top:=
12px; font-size: 16px; line-height: 1.5;"> <span class=3D"font-[700]" data=
-test-id=3D"little-text-block" style=3D"font-weight: 700;"><a href=3D"https=
://www.linkedin.com/in/kkornbluth/" target=3D"_blank" class=3D"inline no-un=
derline cursor-pointer text-color-link font-bold" data-test-id=3D"publishin=
g-text-block-link" style=3D"text-decoration: none; -webkit-text-size-adjust=
: 100%; -ms-text-size-adjust: 100%; display: inline; cursor: pointer; font-=
weight: 600; color: #0a66c2; text-decoration-line: none;">Kris Kornbluth</a=
></span><span class data-test-id=3D"little-text-block"> </span><span class=
=3D"italic" data-test-id=3D"little-text-block" style=3D"font-style: italic;=
">Assistant Editor, Platforms & Curation</span> </p> </div> <hr data-te=
st-id=3D"publishing-divider-block" class=3D"my-1 h-[1px] border-0 bg-system=
-gray-60" style=3D"margin-top: 8px; margin-bottom: 8px; height: 1px; border=
-width: 0; background-color: #8c8c8c;"> <div data-test-id=3D"publishing-tex=
t-block"> <h3 class=3D"m-0 text-md text-system-gray-90 pt-1 pb-0.5 leading-=
regular font-bold" data-test-id=3D"publishing-text-block-h2" style=3D"margi=
n: 0px; padding-bottom: 4px; padding-top: 8px; font-size: 16px; font-weight=
: 600; line-height: 1.25; color: #282828;"> <span class data-test-id=3D"lit=
tle-text-block">More Recommended Reads</span> </h3> </div> <a href=3D"https=
://www.forbes.com/sites/saradorn/2026/07/27/trump-approval-rating-below-40-=
in-latest-string-of-polls/?utm_campaign=3Dforbes_pm&utm_medium=3Dsocial=
&utm_source=3Dlinkedin_newsletter&trk=3D_publishing-image-block" ta=
rget=3D"_blank" data-tracking-control-name=3D"_publishing-image-block" data=
-tracking-will-navigate class=3D"pt-2" data-test-id=3D"publishing-image-blo=
ck" style=3D"color: #0a66c2; cursor: pointer; display: inline-block; text-d=
ecoration: none; -webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%=
; padding-top: 16px;"> <figure class=3D"m-0" style=3D"margin: 0px;"> <img c=
lass=3D"w-full block max-w-full" src=3D"https://media.licdn.com/dms/image/v=
2/D5612AQHuiSd7UO3DiQ/article-inline_image-shrink_1500_2232/B56Z.lQuQWKMAQ-=
/0/1785184052919?e=3D1786579200&v=3Dbeta&t=3DTYy-avzzHPqn2X5W50ADx3=
GEze9H-oUGHQ7_-uEX8F0" style=3D"outline: none; text-decoration: none; -ms-i=
nterpolation-mode: bicubic; display: block; width: 100%; max-width: 100%;">=
<figcaption class=3D"pt-1 font-sans text-center text-sm text-system-gray-6=
0 leading-regular" data-test-id=3D"publishing-image-block-caption" style=3D=
"padding-top: 8px; text-align: center; font-family: -apple-system, system-u=
i, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', U=
buntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji',=
'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', He=
lvetica, Arial, sans-serif; font-size: 14px; line-height: 1.25; color: #8c8=
c8c;"> <span class data-test-id=3D"little-text-block">AFP via Getty Images<=
/span> </figcaption> </figure> </a> <div data-test-id=3D"publishing-text-bl=
ock"> <h3 class=3D"m-0 text-md text-system-gray-90 pt-1 pb-0.5 leading-regu=
lar font-bold" data-test-id=3D"publishing-text-block-h2" style=3D"margin: 0=
px; padding-bottom: 4px; padding-top: 8px; font-size: 16px; font-weight: 60=
0; line-height: 1.25; color: #282828;"> <span class data-test-id=3D"little-=
text-block">Trump Approval Rating: Below 40% In Latest String Of Polls</spa=
n> </h3> </div> <div data-test-id=3D"publishing-text-block"> <p class=3D"m-=
0 mt-1.5 text-md leading-open" style=3D"font-weight: 400; margin: 0px; marg=
in-top: 12px; font-size: 16px; line-height: 1.5;"> <span class data-test-id=
=3D"little-text-block"><a href=3D"https://www.forbes.com/sites/saradorn/202=
6/07/27/trump-approval-rating-below-40-in-latest-string-of-polls/?utm_campa=
ign=3Dforbes_pm&utm_medium=3Dsocial&utm_source=3Dlinkedin_newslette=
r" target=3D"_blank" class=3D"inline no-underline cursor-pointer text-color=
-link font-bold" data-test-id=3D"publishing-text-block-link" style=3D"text-=
decoration: none; -webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100=
%; display: inline; cursor: pointer; font-weight: 600; color: #0a66c2; text=
-decoration-line: none;">Many surveyed say they expect</a></span><span clas=
s data-test-id=3D"little-text-block"> the Iran war to continue for months.<=
/span> </p> </div> <a href=3D"https://www.forbes.com/sites/saradorn/2026/07=
/27/mitch-mcconnell-not-yet-medically-cleared-for-senate-return-new-stateme=
nt-says/?utm_campaign=3Dforbes_pm&utm_medium=3Dsocial&utm_source=3D=
linkedin_newsletter&trk=3D_publishing-image-block" target=3D"_blank" da=
ta-tracking-control-name=3D"_publishing-image-block" data-tracking-will-nav=
igate class=3D"pt-2" data-test-id=3D"publishing-image-block" style=3D"color=
: #0a66c2; cursor: pointer; display: inline-block; text-decoration: none; -=
webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; padding-top: 16p=
x;"> <figure class=3D"m-0" style=3D"margin: 0px;"> <img class=3D"w-full blo=
ck max-w-full" src=3D"https://media.licdn.com/dms/image/v2/D5612AQFS9xcpSqf=
NRg/article-inline_image-shrink_1500_2232/B56Z.lRAKHIoAQ-/0/1785184125905?e=
=3D1786579200&v=3Dbeta&t=3DK7Bc3-tta00DUJBnC9ElXMbhUE3GGso3Eb7Hq8L0=
Ov4" style=3D"outline: none; text-decoration: none; -ms-interpolation-mode:=
bicubic; display: block; width: 100%; max-width: 100%;"> <figcaption class=
=3D"pt-1 font-sans text-center text-sm text-system-gray-60 leading-regular"=
data-test-id=3D"publishing-image-block-caption" style=3D"padding-top: 8px;=
text-align: center; font-family: -apple-system, system-ui, BlinkMacSystemF=
ont, 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Ox=
ygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji',=
'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sa=
ns-serif; font-size: 14px; line-height: 1.25; color: #8c8c8c;"> <span class=
data-test-id=3D"little-text-block">Office of Sen. Mitch McConnell</span> <=
/figcaption> </figure> </a> <div data-test-id=3D"publishing-text-block"> <h=
3 class=3D"m-0 text-md text-system-gray-90 pt-1 pb-0.5 leading-regular font=
-bold" data-test-id=3D"publishing-text-block-h2" style=3D"margin: 0px; padd=
ing-bottom: 4px; padding-top: 8px; font-size: 16px; font-weight: 600; line-=
height: 1.25; color: #282828;"> <span class data-test-id=3D"little-text-blo=
ck">Mitch McConnell =E2=80=98Not Yet Medically Cleared=E2=80=99 For Senate =
Return, New Statement Says</span> </h3> </div> <div data-test-id=3D"publish=
ing-text-block"> <p class=3D"m-0 mt-1.5 text-md leading-open" style=3D"font=
-weight: 400; margin: 0px; margin-top: 12px; font-size: 16px; line-height: =
1.5;"> <span class data-test-id=3D"little-text-block"><a href=3D"https://ww=
w.forbes.com/sites/saradorn/2026/07/27/mitch-mcconnell-not-yet-medically-cl=
eared-for-senate-return-new-statement-says/?utm_campaign=3Dforbes_pm&ut=
m_medium=3Dsocial&utm_source=3Dlinkedin_newsletter" target=3D"_blank" c=
lass=3D"inline no-underline cursor-pointer text-color-link font-bold" data-=
test-id=3D"publishing-text-block-link" style=3D"text-decoration: none; -web=
kit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; display: inline; cu=
rsor: pointer; font-weight: 600; color: #0a66c2; text-decoration-line: none=
;">McConnell=E2=80=99s office has said</a></span><span class data-test-id=
=3D"little-text-block"> he=E2=80=99s recovering from a fall and bout of pne=
umonia.</span> </p> </div> </td> </tr> <tr> <td class=3D"pt-2 no-underline"=
style=3D"-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; mso-t=
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t" style=3D"-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; mso=
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n.com/comm/pulse/mogul-made-800m-fortuneand-left-behind-trail-failed-busine=
sses-puatc?lipi=3Durn%3Ali%3Apage%3Aemail_email_series_follow_newsletter_02=
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l-align: top; text-decoration-line: none; width: 100%;"> <table role=3D"pre=
sentation" valign=3D"top" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" =
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