Wes Edens is an American businessperson, private equity investor and the owner of a sports team. He is one of the founders and chairman of Fortress Investment Group, co-owner of Milwaukee Bucks, a National Basketball Association in Milwaukee, Wisconsin. He studied Finance and Business Administration at Oregon State University and graduated in 1984. In 2017, the 45-year-old businessman was ranked 369 on the Forbes Billionaires list and was estimated to be worth $2.5 billion in 2007.
Eden began his financial career in 1987 at Lehman Brothers. He worked as the managing director to 1993. He then moved to BlackRock Asset Investors, a renowned finance company, where he worked as the managing director and partner until 1997. Wes Eden began his career at Fortress Investment Group, which is currently one of the largest alternative asset managers in the world in 1998. He was one of the five chief partners who founded the company. These were Peter Bridger, Randal Nardone, Michaell Edward, Robert Kauffmann and Wes Edens. Today, he is one of the seven key stakeholders of Fortress.
In February 2007, Fortress Investment Group was the first company globally to trade buyouts publicly. By 2009, 80 percent share had already been sold out for $600 million. According to a 2007 article on the Wall Street Journal, Eden’s style of investing was described as very creative, his financing and impressive skills when it came to developing new, yet viable businesses from the investments made from Wes Edens’s company were also commended. As reported by Bizjornals on the New York Times, the businessman’s take-home pay is $54.4 million. At one point, he had 63.3 million stock shares at Fortress.
In January 2017, Wes Edens and the other Fortress founders created FlyQuest, an eSports team which competes at the Championship Series Springleaf. The purchasing of AIG’s American General Finance is attributed to Wes Edens. This made Springleaf Holdings’ value to rise to $3.5 billion by 2015. The $124 million 2010 investment had now increased by 27 percent. In August 2010, Fortress purchased 80% of Springleaf for $125 million. This significantly built the company’s private equity unit.
Learn More: www.wesedens.com/