The Success of Wes Edens at Fortress Investment Group
Wes Edens is a renowned entrepreneur who engages in several financial service operations as well as Nationstar Mortgage trading. He is also the Milwaukee Bucks’ co-owner. Since he started his career in 1987, he has been engaged in several executive positions which have proven his success as a financial advisor. As the co-founder of Fortress Investment Group, he is the current President of the firm.
His Successful Career and Success
Before joining Fortress Investment Group, Wes Edens worked with Lehman Brothers since 1987 and left the company in 1993 after occupied different management positions. He then went to BlackRock Financial Management where he also served as the partner and Managing Director. He then left the company in 1997 when he co-founded Fortress Investment Group with other competitive minds. Currently, he forms part of the board members of the company.
The entrepreneur’s style of investment has been acknowledged in the US and particularly by the Wall Street Journal. He was cited as one of the successful entrepreneurs with the best investment ideas and has had unique financing and betting options. At Fortress Group, he scoops up to $54.4 million from which $41 million was part of his shares. He is also managing the private equity business of the firm which has proven to be very profitable over the years. In addition, he is the key impetus under the acquisition of the company’s main lender, Springleaf Financial LLC.
His Completion of Fortress Investment Group Sale
Wes Edens recently finalized the sale of Fortress Investment Group to SoftBank Solution in an exchange of $3.3 billion. The number of proceeds which he sold the stock was approximately $512 million. As per 2017, he had received a total of 11.4 million dollars from his dividends and another 1.4 million dollars on his unvested shares. He continues to lead the company together with other co-principles including Peter Briger and Randy Nardone under the 5-year contract they were all given. During the closure of the transaction, Wes Edens revealed that the shares of the company were trading at $7.85 each. Fortress’ Wes Edens on Brightline rail project