Wes Edens, Billionaire

Wes Edens’ position on the Forbes billionaire list is #962. Edens studied finance at Oregon State. He is responsible for being a chairman and founder of Fortress Investment Group. Edens’ compensation is $13.4 million including $41 million in shareholder dividends. Edens is on a list of “Very High Earning Private Equity Executives.” Edens’ total salary is $200,000 with nearly $1.1 million in stock awards. As a chairman and founder of Fortress Investment Group, a global investment management firm that was founded in 1998, Fortress is involved with assets of 1,750 institutional clients. Employees include 969 asset managers since September 17th, 2017 along with 216 investment professionals. Edens also has $11.6 million in bonuses and $478, 493 in other income in 2015. Edens is the co-owner of the Milwaukee Bucks, a National Basketball Association franchise, which he owns with Marc Lasry.

As for his work with Fortress, Fortress did become the first publicly traded buy-out firm in 2007. Edens has a B.S. in Finance and Business Administration from Oregon State University since 1984. Edens runs the private equity part of the Fortress Investment Group business. Springleaf Holdings Inc. is a subprime lender, which expanded to $3.5 billion under Edens’ leadership.Fortress is Springleaf’s majority stakeholder. Edens is also the chairman of Nationstar Mortgage, a subprime home equity mortgage lender that had been acquired by Fortress for $575 million. Edens sold Fortress to Japan’s Softbank for $3.3 billion cash. Edens made $512 million off of this sale and $11.4 million since February 2017 through bonus dividends, having received another $1.4 million in uninvested shares.

Fortress is going to continue to be run as an independent business based out of New York. Softbank had paid $8.08 per share as a $2.25 per share premium even as Fortress closed for $5.83 per share. Eden’s stock had thus increased to $142.6 million and traded at $7.85 per share when trading closed.Fortress specializes in private equity funds, liquid markets funds, credit funds and traditional asset management. Fortress has experience in corporate mergers and acquisitions that determines how an investment will go. Fortress believes in low-risk financing. Fortress has businesses along the lines of equity funds and credit specializing in asset-based investing. Fortress values deep industry knowledge on what to invest in as well, and you can rely on our team of investment professionals while refining tools for assessment in strategic challenges with complex investments in mind.

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