Wes Edens is the chairman and co-founder of Fortress Investment Group. He is the owner of the Milwaukee Bucks basketball team. He is regarded as one of the richest men in America. He is reported to earn about $13.4 million from Fortress alone. He also earns dividends worth $41 million. He is listed as number 297 on the Forbes billionaires list. It didn’t happen in a flash though.
Summary of Mr. Edens and His Career Path
Wes Edens is a private businessman with a rich history in the world of corporate leadership and investment. He is a renowned equity investor with a knack for businesses that return high profits. He owns a basketball team named Milwaukee Bucks. Mr. Edens has been a Managing Director and Partner at BlackRock Financial Management Inc. He has also served in the same position at Lehman Brothers. Mr. Edens is a Finance graduate from Oregon state university. According to Forbes news, Mr. Edens is ranked among the richest investors in the US. He participated in the sale of Fortress to a Japanese Company; SoftBank at $3.3 billion. He has maintained a shrewd business outlook in all his business dealings.
Fortress Acquired by SoftBank
The Japanese giant, SoftBank, acquired Fortress Investment Group for $3.3 billion but allowed Fortress to continue operating independently; although its financial report at every end of the financial year will be incorporated with that of SoftBank. Fortress is one of the investments that have made Wes number 297 on the Forbes billionaires list. According to Forbes, Wes is worth over $1.6 billion. Mr. Wes Edens is said to have sold his stock at Fortress for $ 512 million.The decision by SoftBank to allow Fortress Investment Group to operate independently impressed Fortress leadership and that of SoftBank alike. There will be little disruption of the growth trajectory that Fortress has demonstrated over the years. SoftBank management acknowledged the value addition from the acquisition, saying that Fortress will add their investment expertise to the bank’s portfolio and help it to grow further in the area of investments. Mr. Randy Nardone and Pete Briger will continue working as the Fortress Group’s heads under the new arrangement.
Fortress Investment Group was founded in 1998 as an alternative assets investment company. Wes Edens is one of the founders of the giant investment organization. Fortress is reported to be worth over $ 72 billion. The group has its headquarters in New York City. Fortress has grown over the years and opened branches all over the world. Some of the investments that Fortress has include transport businesses, real estate, infrastructure, healthcare, media financial services among others.
An Investment Legend
Mr. Edens continues to inspire upcoming investors with his shrewd business decisions that turn into gold. He has assets spanning a wide range of niches. He continues to put his money where his mouth is. Wes is often interviewed by pressmen. He has repeatedly told his interviewers that there is nothing as interesting and beneficial as the investment game. He quips that if everyone could see the reality of the world, they would go into investing in assets and stocks across the spectrum of options splashed on the screens in the stock exchanges.