Doug Lebda, the pioneering founder and CEO of LendingTree, died Sunday, October 12, 2025, in a tragic all-terrain vehicle (ATV) accident at a family farm in North Carolina, according to company statements and reports from multiple outlets, including The Charlotte Observer and Newsweek. Lebda, 55, leaves behind a legacy that reaches far beyond the fintech world, touching countless lives through his business innovations, philanthropy, and community engagement.
Lebda’s passing sent shockwaves through the Charlotte business community and the broader financial technology sector. LendingTree, the Charlotte-based online loan marketplace he founded in 1996, confirmed the news Monday and announced immediate leadership changes. Scott Peyree, previously chief operating officer and president, was appointed CEO, while Steve Ozonian, lead independent director since 2008, was named chairman of the board. The company’s board expressed deep sorrow, describing Lebda as a visionary whose “relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers.”
Details about the accident remain limited. A LendingTree spokesperson told reporters the crash occurred at a family farm in North Carolina, but further specifics had not been released as of Monday. The suddenness of Lebda’s death left many reeling. “I have lost a true friend and North Carolina has lost one of America’s greatest entrepreneurs,” former North Carolina governor and longtime Charlotte mayor Pat McCrory wrote 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’s journey began with a personal frustration: the convoluted process of securing his first mortgage in the 1990s. Rather than accept the status quo, he envisioned a one-stop website where banks would compete for customers’ business. He left business school to pursue this idea, launching LendingTree nationally in 1998 and taking the company public in 2000. The platform revolutionized how Americans shop for loans, making an opaque, often intimidating process transparent and user-friendly. As Newsweek reported, Lebda’s vision “transformed an industry traditionally known for opacity and complexity into one where consumers could easily compare options online.”
His entrepreneurial spirit didn’t stop at LendingTree. After the company was acquired by IAC/InterActiveCorp in 2003, Lebda served as IAC’s president and COO from 2005 to 2008. He returned to lead LendingTree when it spun out as a separate public company in 2008, rebranding from Tree.com. The company grew to employ about 940 people, with more than 300 based in Charlotte. In 2017, LendingTree was ranked No. 3 on Forbes’ list of fastest-growing U.S. companies. The company’s total revenue soared 43% in the first quarter of 2025 compared to the same period the previous year, rising from $167.8 million to $239.7 million. LendingTree’s central online marketplace now helps users find and compare loans for mortgages, credit cards, insurance, and more, and owns brands like CompareCards and Value Penguin.
Lebda’s influence extended well beyond business. He was a frequent guest on financial news networks, including Bloomberg, CNBC, Fox Business, and more. In 2019, he purchased a 5% stake in the NFL’s Pittsburgh Steelers, an investment estimated by Forbes at $140 million. “It’s a good investment,” Lebda told The Charlotte Observer 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.” He also once attempted, with former Bank of America CEO Hugh McColl, to buy the Charlotte Knights, a minor league baseball team—though the effort was ultimately unsuccessful.
Lebda’s commitment to community and philanthropy was equally notable. In 2020, he spearheaded a fundraising campaign for a community-wide COVID-19 relief fund, with LendingTree donating $1 million to support affected residents. “Now is the time to pull together,” Lebda declared. LendingTree was also among private donors helping The Foundation for the Carolinas exceed its goal to support Charlotte’s arts budget plan in 2021. Lebda, a lover of literature and musicals, believed the arts fueled creativity in business, stating, “Art surrounds us in everything we do from music to architecture and design to so much more.” LendingTree’s headquarters is adorned with local art, reflecting this ethos.
Politically, Lebda was a longtime Republican donor and served as co-chairman of the host committee for the 2020 Republican National Convention in Charlotte. He emphasized the bipartisan nature of the effort, focusing on the economic boost it brought to the city. Yet, like any high-profile figure, Lebda faced his share of controversy. In 2018, he was embroiled in a legal dispute with former U.S. congressman Robert Pittenger over the construction of his mansion in Charlotte’s Quail Hollow neighborhood, amid claims the home violated design guidelines.
Despite professional and personal challenges, Lebda remained committed to education and mentorship. He taught entrepreneurship at the University of Virginia’s Darden School of Business, his alma mater, returning two decades after founding LendingTree. In 2010, he co-founded Tykoon, a financial services platform aimed at teaching children and families about money management. He often credited his own experiences as inspiration, telling The Wall Street Journal in 2012, “All of my ideas come from my own experiences and problems.” Before his entrepreneurial leap, Lebda worked as an auditor and consultant for PriceWaterhouseCoopers.
The news of Lebda’s death prompted an outpouring of grief and admiration from business leaders, politicians, and community members. Kevin Wilkinson of The Southern Group-North Carolina called it “a tremendous loss,” noting, “He transformed financial services and made North Carolina a leader in fintech.” Charlotte city councilman Edwin Peacock described Lebda as “a visionary business leader and generous philanthropist who left a lasting impact on Charlotte and beyond.” Tariq Bokhari, Carolina Fintech Hub founder, expressed awe at Lebda’s induction into the NC Entrepreneurial Hall of Fame, reflecting on his friend’s remarkable life and achievements.
LendingTree’s board pledged to uphold Lebda’s legacy, stating, “We are committed to upholding his legacy and continuing the work he began with passion, integrity and dedication.” Scott Peyree echoed this sentiment, calling Lebda’s death “devastating,” but emphasizing the strength of the management team Lebda built: “I look forward to leading our team and continuing our shared vision with Doug into the future.”
Lebda is survived by his wife, Megan, and their three daughters, Rachel, Abby, and Sophia. In a statement, Megan Lebda said, “He was an amazing man with a heart so big it seemed to have room for everyone he met. Our hearts are broken, but we are also deeply grateful for the love and support that has poured in from across the world.”
Company shares fell more than 4% on Monday following the announcement, highlighting the immediate business impact of Lebda’s passing. Yet, as LendingTree moves forward under new leadership, the imprint of Doug Lebda’s vision and compassion remains unmistakable—woven into the fabric of the company, the Charlotte community, and the financial lives of millions.
