The Co-founder of Fortress Investment Group, Wes Edens is one of the wealthiest men in the world with his net worth estimated at $1.2 billion in 2008.The husband of Lynn Edens and a father of four was ranked 962 in the Forbes’ billionaire list of 2008. Although his recent net worth is unknown, it is only assumed to higher he proves to be creative in his financing. Always noticing a way to build businesses from investments.
The self-made billionaire has a B.S. from Oregon State University in Finance. He set off his journey of a million miles in finance as a managing director at Lehman Brothers. Having worked there from1987 to 1993, he moved on to BlackRock Financial Management Inc. This was an equity fund, and he worked there as the partner and managing director until 1997.In the next year, Wes Edens and Randal A. Nardone cofounded on Fortress Investment Group.
The Fortress started off as a private equity company but over the years transitioned into an international investment manager. The firm that has its headquarters at New York is estimated to be worth $72 billion or more. The company can boast in its expert capability on pricing, financing and owning assets from real estate, transportation, media and financial assets secured by durable cash flow. The firm bought Springleaf Financial Services. This made it a majority stakeholder in the company formerly recognized as American General Finance. Edens was stated to be the medium during this purchase, and this supported the statement The Wall Street Journal had published, labelling him as the new king of subprime lending.
In 2017, Wes Edens became the Chief Executive Officer at Fortress Investment Group in New York, and Peter L. Briger Jr. was the Co-C.E.O. in San Francisco. In the same year, the firm created e-Sports and had its team named FlyQuest. This is a competition in video gaming, and it involves multi-players. This was a new venture and experience since it is not like the individual personal video gaming that is on our phones or computers. This competition involves gaming professionals compete against each other. The Investment Group had to part with a large amount from their bank account to buy some players from Cloud9.The team participated in the North American League of Legends Championship Series.
Other than offering leadership in the investment company with over 953 employees to its name, Wes Edens co-owns Milwaukee Bucks after parting with a whopping $550 million. He and Marc Lasry bought the National Basketball Association franchise from Herb Kohl. This seems to act as an inspiration to his youngest daughter, Mallory Edens, who expressed her aspiration to buy the New York Knicks someday. This being sufficient proof that the fruit does not fall away from the tree.
Although in the Finance world luck is not a factor to consider since it’s all about numbers and more numbers, one cannot help but wonder if the billionaire has his lucky star to thank for as it seems every investment he touches turns into gold.
For More info: www.linkedin.com/in/wesley-edens-a6b19b3a