The Rise of Wes Edens to the Worlds Billionaire List
Wes Edens is popularly known for co-founding Fortress Investment Group, a company that focuses on investment management. He established the company in 1998 together with other four partners. The firm specializes in the investment of Bonds, private equity and hedge funds. Apart from Fortress Investment group, Wes has also been a backbone for other numerous companies. He is the founder of FlyQuest e-sport team and also a co-partner of the Milwaukee Bucks. Edens obtained his bachelor’s degree in business administration and finance from the Oregon State University. At Fortress Investment, he worked as the chief investment officer, chief executive officer and also as the president of the firm. He was named 369th billionaire in the world list by the Forbes.
Upon graduating, Wes Edens served in different companies. He first worked at the Lehman Brothers as a managing director and later on, became a partner of the business. In 1993, Wes joined the Blackrock Asset Investors and served as managing director till 1997. Mr. Edens name gained prominence in 1998 when he ventured into the investment world and founded Fortress Investment Group. With a solid background in finance management, Wes has substantially contributed to the leadership and growth of the company. One of the notable achievements was the purchase of Springleaf Financial Services. Wes identified the potential of the company, and he led the acquisition process. Later on, Springleaf Financial Services increased its worth 27 times, and this led to the general increase of returns at the Fortress Investment Group. The wall street journal named Wes as the new king of subprime lending.
Fortress Investment Group co-founders include; Peter Bridger, Robert Kauffman, Michael Edward, Randal Nardone and Wes Edens. The company used creative financing and investments to build businesses. In 2007, the firm made headlines as the first company to publicly trade buyouts. Mr. Edens with other four principals made billions in 2006 when Nomura Holdings paid 888 million dollars to purchase 15% of Fortress. Wes Eden works hard for his fortunes; he currently takes home 54 million dollars in a year and also holds 63.3 million shares of the business stock. He had the highest percentage of the voting influence among all shareholders.Wes Edens is also a board member of several other companies. He chairs the board members of the New Senior Investment Group and the chairman of the Drive shark CO. He also serves as the chairman and board of directors of the Florida East Coast Holding. Wes became the chairman of the board of directors of the Springleaf Finance Services in 2013.