The Kerr—Newman (KN) electron model generated by the superextreme gravitational field of black hole is modified to a radiating black-and-white hole that both absorbs and emits electromagnetic waves. Following QED, we consider the KN solution as a bare electron model and as a dressed electron model, where the bare electron forms a classical massless relativistic string responsible for the wave properties of the electron as a quantum particle, and the dressed electron forms a heavy electron-positron vacuum core, clothed in the KN gravitational field due to formation of the electron and positron Wilson loops. Within the framework of the Kerr—Schild formalism, a class of radiating KN solutions is considered, which absorb energy like an ordinary black hole, and at the same time emit electromagnetic field with their white side.