In late 2016 and early 2017, some significant steps were taken by Edward Lampert, president, chief executive officer and top shareholder of Sears Holding Corp. Lampert, with personal assets estimated at US$2 billion, is also the founder and manager of the hedge fund ESL Investments Inc. He provided an additional loan of US$500 million to the company and said he would provide letters of credit to Sears for additional amounts, reportedly totaling US$200 million and possibly increasing to a half-billion dollars in the future.