The Contributions of Wes Edens

The idea of wealth creation is actualized through networking and teaming up with people whom you share goals with. This is what Wes Edens demonstrated during the formation of Fortress Investment Group. Wes teamed up with his colleagues from different companies he had worked with. The other two founders were Rob Kauffman and Randal Nardone.The objective of the company was to satisfy a market niche as an equity firm. This idea proved successful and the company upgraded to real estate investment, debt securities, and hedge funds. Under the guidance of Wes Edens and his colleagues, Fortress Investment Group has grown rapidly as the years have passed. From the year 1999 to 2006, the private equity funds of the company had netted 39.7%. Wes Edens was ranked the nine hundredth and sixty-seventh, richest person on earth by Forbes magazine. At that time, he had a net worth of 1.2 billion dollars.

He received a bachelor’s degree in finance and business administration from the Oregon State University. After completion of his bachelor’s, he kicked off his career at Lehman Brothers. From 1987 to 1993, he was a partner at Lehman Brothers. Wes Edens was also the managing director during the same period. He later joined BlackRock for four years. He was responsible for the private equity department. Managerial responsibilities at the company were under his jurisdiction. After this phase, Fortress Investment happened. His entrepreneurial skills would then come out in the open as the company they co-founded flourished. Fortress Investment Group was successful because the founders had previously worked together. The chemistry needed, was already existing.

Good leaders lead by example. Not all managers are leaders, but for Wes, he is both a leader and a manager. The success he has achieved motivates those around him to do better. Fortress Investment Group became the first publicly traded buyout firm in 2007. At the initial public offering at the New York Stock Exchange, eight per cent of the shares were sold at 600 million dollars. Wes Edens became a paper billionaire in 2006 after a Japanese company bought 17 % of the shares at 888 million dollars. In 2009, he became the Co-Chairman of the board at Fortress Investment. He was behind the acquisition of Springleaf Financial by Fortress Investment.Wes has also invested in a sports team. He owns the NBA franchise, Milwaukee Bucks, Wisconsin. He has prospects in professional video gaming. Fly Quest, a league of legends team, is owned by Edens.

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