American businessman, Wes Edens, has worked hard to obtain what he has now. He is the cofounder of Fortress Investment Group, which is a investment management firm based in New York City. He also co-owns the basketball team, Milwaukee Bucks. Both business ventures have been a tremendous success. Wes Edens knows how to make deals, and he’s only just begun.
Edens began his career in 1987 at Lehman Brothers, a global financial services firm. Edens excelled at being a partner and managing director until 1993. He also served as partner and managing director at BlackRock Asset Investors until 1997.
In 1998, Edens joined four other partners to form Fortress Investment Group. By 2007, Fortress included 14 private equity funds, four hedge funds, and two real-estate vehicles. Edens and his partners made the decision to take the firm public. Doing this made them paper billionaires. Edens became Co-Chairman of Fortress of the Board of Directors at Fortress in 2009. While Co-Chairman, he helped the company by offering subprime lending, which is a type of loan that is aimed at clients who may have a difficult time with the repayment schedule due to circumstances as divorce or loss of employment.
Fortress recently dove into the eSport arena with its creation of the team, FlyQuest. The L.A. based team has been quite successful, finishing the regular season in 5th place. The team also finished 3rd in the NA Regional Qualifiers. FlyQuest competed in the North American League Championship in 2017.
Edens, along with Mark Lasry, purchased the Milwaukee Bucks in 2014. The NBA team has not won a championship since 19712, but Edens is optimistic and believes in this team. He is so confident about the Bucks, that he has built a new multimillion dollar stadium for the team to play in. So far, that decision has paid off. He and Lasry purchased the team in 2014 for $550 million. Four years later, the team is work $1 billion.
You can see Edens quite frequently at a Bucks game. Often, he is with school kids that he has invited from Milwaukee and Madison to set with him at courtside. He desires to use the game of basketball no only as a vehicle for entertainment, but to inspire and motivate people as well.
Recently, Edens sold his stock in Fortress for a reported $3.3 billion in cash to Japan’s SoftBank Group Corp. based in Tokyo. Fortress will continue to operate as normal and Edens, along with two of the original partners Pete Briger and Randy Nardon, will continue their leadership roles with a new five-year contract. The company’s senior professionals will also remain in place. SoftBank is aware of Fortress’ excellent track record that Edens and his partners have established in the past, and doesn’t want to fix what isn’t broken. This venture will expand Softbank greatly.
Wes Edens lives with his wife, Lynn, and their two daughters. He enjoys horse jumping and mountain climbing. He has a Bachelor’s degree from Oregon State University.
Wes Edens’s Facebook Page: www.facebook.com/public/Wes-Edens