Wes Edens has made a strong name for himself in the world of investments and as someone who has helped to build Lehman Brothers, BlackRock and Fortress Investment Group into the powerhouses that they are today, he is uniquely equipped to assist the world of sports as well.By the time he departed from Fortress Investment Group, he was taking home $54 million per year (according to BizJournals). While he has been reticent to provide Forbes with any information about his net worth in recent years, he has ranked in the top 400 in years past and since his purchase of the NBA’s Milwaukee Bucks, his value only continues to rise.After co-founding Fortress Investment Group in 1998, Wes Edens was responsible for a few watershed moments for the company.
When the subprime mortgage crisis took place and caused the company’s stock prices to dip precipitously, he offered subprime lending that allowed them to make their way through these difficult times.Wes Edens was also present when the company first began public trading and the resulting windfall has served as the springboard to even greater levels of prosperity. Once he decided that it was time to take on the next challenge, Edens set his sights on the National Basketball Association.He came together with partner Marc Lasry to submit the winning bid for the NBA’s Milwaukee Bucks and was able to nearly double the franchise’s valuation almost immediately. The team was purchased from erstwhile owner Herb Kohl for $550 million. Before long, the team’s valuation had skyrocketed to well over $1 billion. Edens was not done there, though.
At Fortress Investment Group, he developed a knack for making the sort of forward thinking bets that allow companies to prosper over the long haul. Now that he is entrenched as the owner of the Milwaukee Bucks, he has made two additional bets on the world of sports….e-sports, to be exact.In addition to investing a League of Legends team and a League of Legends team with his FlyQuest venture, Edens is taking additional steps to ensure that the Bucks are able to remain on the cutting edge. When the NBA recently announced that they would be starting their own NBA 2K league for professional console gaming, Wes Edens was on board immediately.This venture allows the NBA to make powerful inroads with younger fans. It also sets up Edens for future success. His track record suggests that he will experience the same sort of success that he is already accustomed to.