LendingTree CEO Doug Lebda killed in ATV accident, Charlotte fintech says
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- LendingTree CEO Doug Lebda, in his mid-50s, killed in ATV crash Oct. 12, 2025
- Board named Scott Peyree CEO and Steve Ozonian chair to lead company
- LendingTree reported revenue growth and employs about 940 people, 300+ in Charlotte
LendingTree CEO and Chairman Doug Lebda, a high-profile Charlotte executive who founded his fintech out of frustration over trying to get his first mortgage in the 1990s before turning it into a national company, died Sunday in an ATV accident, the company said Monday.
Lebda’s impact extended beyond the business community, touching lives through his philanthropy and other projects, including as co-chairman of the 2020 Republican National Convention held in Charlotte.
Lebda was killed in an all-terrain vehicle crash Sunday, Oct. 12, LendingTree said. The accident happened at a family farm in North Carolina, a company spokesperson told reporters. The farm is west of Charlotte in the Tryon area, according to reports.
Additional details of the incident were not immediately available. Lebda was 55.
“I have lost a true friend and North Carolina has lost one of America’s greatest entrepreneurs,” Pat McCrory, former North Carolina governor and seven-term Charlotte mayor, said Monday on X. “Doug Lebda could have put the headquarters of LendingTree anywhere in the nation, but he selected Charlotte to be his home. We are so fortunate to have known his passion and heart.”
Lebda founded the company in 1996. LendingTree offers online tools to connect borrowers with lenders on financial services, like credit cards, mortgages or personal loans.
Scott Peyree, Lending Tree’s chief operating officer, has been appointed by the board to serve as the company’s president and chief executive officer, effective immediately.
The company’s Board of Directors expressed sorrow over Lebda’s death and called him a visionary whose innovation transformed the financial services industry and touched millions of customers’ lives.
Lead Independent Director Steve Ozonian has been appointed to serve as the chairman of the board, effective immediately. Ozonian joined the board in 2008. “We are committed to upholding his legacy and continuing the work he began with passion, integrity and dedication,” the board said.
LendingTree officials did not respond to requests for comment Monday from The Charlotte Observer.
About LendingTree CEO Doug Lebda
Lebda has said many times over the years that LendingTree was born out of his frustrations trying to secure his first mortgage.
Instead of people visiting multiple lenders, Lebda’s idea was to provide a one-stop website where banks would compete for a customer’s business. He left business school to start the company. The company launched nationally in 1998 and issued its IPO in 2000.
Lebda taught an entrepreneurship class at University of Virginia Darden School of Business, where he graduated, returning 20 years after starting LendingTree.
In 2003, Lebda sold the company to IAC/InterActiveCorp. From 2005 to 2008, Lebda was IAC’s president and COO. In 2008, he joined the newly formed Tree.com (rebranded as LendingTree) as it spun out from IAC as a separate public company.
Lebda also was a frequent guest speaker on news networks like Bloomberg, CNBC, Fox Business and The Street, in addition to appearances on Mornings with Maria, CNBC Squawk Box and Mad Money with Jim Cramer.
In 2019, Lebda purchased a piece of ownership in the NFL’s Pittsburgh Steelers previously held by Carolina Panthers owner David Tepper for an undisclosed figure. A 5% stake in the Steelers was estimated to be worth $140 million by Forbes, The Charlotte Observer reported at the time.
“It’s a good investment,’’ Lebda said at the time. “But it’s also an amazing opportunity to be a part of what I think is one of the best organizations of anything in the world.”
Lebda also once eyed another sport too. In 2004, he and former Bank of America CEO Hugh McColl tried to buy the Charlotte Knights, the Chicago White Sox’s Triple A minor league baseball affiliate, from owner Don Beaver. But Beaver didn’t want to sell.
Doug Lebda in the Charlotte community
Lebda also was personally involved in the Charlotte community.
In 2020, he kickstarted a fundraising effort for a community-wide fund to help residents affected by the COVID crisis with LendingTree giving $1 million. “Now is the time to pull together,” Lebda said.
In 2021, LendingTree was among the private donors that helped The Foundation for the Carolinas exceed its fundraising goal to support the city’s arts budget plan.
Lebda said then that musicals and literature personally touched his life and helped drive creativity for his businesses. LendingTree’s headquarters has local art on display throughout the building.
“Art surrounds us in everything we do from music to architecture and design to so much more,” Lebda said.
A longtime Republican donor, Lebda also was co-chairman of the host committee for the 2020 Republican National Convention held in Charlotte in August 2020. He stressed it was a bipartisan effort to bring an economic boost to Charlotte.
But Lebda didn’t always find favor with his neighbors.
In 2018, he and former U.S. congressman Robert Pittenger were embroiled in a legal dispute over Lebda’s new 15,000-square-foot mansion in Quail Hollow, an upscale subdivision in South Charlotte, amid claims the new home violated design guidelines and covenants.
About LendingTree
LendingTree has about 940 employees companywide, with more than 300 in Charlotte.
In 2017, it was ranked No. 3 on Forbes’ list of fastest-growing U.S. companies. In 2021, LendingTree moved its headquarters from Ballantyne to a 175,000-square-foot office in South End.
LendingTree’s total revenue climbed 43%, from $167.8 million to $239.7 million in the first quarter this year compared to the same quarter last year. The company is traded on the NASDAQ.
But the fintech company has also been dealing with some setbacks too.
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In July, LendingTree lost performance-based incentive grants from the state for 2022 and 2023 under the Job Development Investment Grant program after failing to create a promised 314 jobs at its Charlotte headquarters.
Last year, the company requested to terminate a separate JDIG agreement from 2018 that promised to create 36 high-paying jobs over five years in Mecklenburg County.
Now, losing Lebda so unexpectedly was “devastating,” Peyree said in a statement. “But one of the most immediate impacts of his legacy is the strong management team he put in place at LendingTree. I look forward to leading our team and continuing our shared vision with Doug into the future.”
‘One of America’s greatest entrepreneurs’
People who knew Lebda reacted with shock Monday while sharing their condolences online.
Kevin Wilkinson, managing partner of lobbying firm The Southern Group-North Carolina, called Lebda’s death “a tremendous loss.”
“He transformed financial services and made North Carolina a leader in fintech,” Wilkinson said on X. “His vision and impact will be felt for generations.”
“A visionary business leader and generous philanthropist who left a lasting impact on Charlotte and beyond,” said Charlotte city councilman Edwin Peacock on Facebook. “My heartfelt condolences to his family and the LendingTree team.”
And Carolina Fintech Hub founder and former Charlotte city councilman Tariq Bokhari talked about how “amazing” it was seeing Lebda inducted into the NC Entrepreneurial Hall of Fame. “There are points in life when you stop and sit back in awe at the life stories and accomplishments of your friends and mentors,” Bokhari said on X.
Lebda is survived by his wife, Megan, and three daughters Rachel, Abby and Sophia. Funeral services have not been announced yet.
“Our hearts are broken,” Megan said in a statement to reporters, “but we are also deeply grateful for the love and support that has poured in from across the world.”
This story was originally published October 13, 2025 at 12:29 PM.
