Wes Edens, a Self-made Billionaire, a Businessman and a Serial Investor That Everyone Should Emulate

Wesley Edens is a New York-based self-made billionaire who made it to position 962 in the Forbes billionaires list in 2008. He currently serves as a co-Chief Executive Officer at Fortress Investment Group since 2017. Wesley Edens, also called Wes, served as CEO of the firm for six years since 1998. Furthermore, Wesley co-founded Fortress and has been serving as its Private Equity Chief Executive Officer, principal, president of private equity and co-chairman for nine years now. His responsibilities are to oversee private equity and alternative investment businesses.Wesley’s career kicked off in 1987 at Lehman Brothers, a global investment bank dealing in equity and fixed income sales and trading, private equity, and private banking. He served there as a managing director until 1993. Later, Wes Edens moved to Black Rock Asset Investors as a partner and managing director until 1997. He has an educational background in Finance and Business Administration where he graduated with a degree from Oregon University in 1984.

Employees in Fortress Investment Group have described the working environment as challenging, friendly employees, thus encouraging teamwork and a flat organization structure which has made communication very easy. In addition, they have described human Resources as exceptional and praised the firm for giving them exposure in their particular fields.Wes Edens co-owns the Milwaukee Bucks, an NBA team located in Milwaukee, Wisconsin. Edens also owns a video game called League of Legends developed and published for Microsoft Windows. Recently, Wes stated that his Fortress Investment group will launch a brand-new E-sports team by the name FlyQuest. E-sports means organized multiplayer video game tournaments among professional players.

This franchise has organized a team to play in the North America League of Legends Championship series. Fly Quest will most likely succeed given Edens’ experience in sports and business. Long-term growth will be achieved through sponsorships, partnerships, and an active fan base. Wes Edens described e-sports as rapidly growing, and he is positive that with time, FlyQuest will become an internationally recognized organization.According to biz journals, Wes Edens has a ‘take-home pay’ of $54.4 million annually. This amount is the total compensation at Fortress of $13.4 and close to $41 million in dividends received as a shareholder. Due to this, He appeared in a list of ‘Very High Earning Private Equity Executives.’ According to a report by Fortress, his total wages are in addition to his $200,000 salary, close to $1.1 million in stock awards, a bonus of $11.6 million and $478,493 in other allowances.

Randal Nardone and Fortress Investment Group

Randal Nardone co-founded Fortress Investment Group in 1998. He earned graduated from the University of Connecticut with a B.A. in English and Biology. Then he earned JD from Boston University School of Law.Before founding Fortress Investment Group, he was managing director at UBS, and before that, he was principal at BlackRock Financial Management. Before that, he held an appointment on the executive committee at the law firm of Thacher Proffitt and Wood. He has also held positions at Alea Group Holdings Limited, GAGFA S.A., and Brookdale Senior Living.

Occupying the spot 557 on the Forbes billionaire list, Nardone is a self-made man whose net worth is about $1.8, made at the initial public offering in 2007. He is the COO (chief operating officer), overseeing the structured finance and legal matters sections. Nardone has earned an amazing $100 million in cash payouts since 2005. Fortress Investment Group is a powerhouse money management provider who specializes in highly diversified global investments and manages assets worth $43.6 billion. Randal Nardone is also a director of EuroCastle Investment Limited, Spring Leaf Finance Corporation and Spring Leaf Finance, INC.  In late December 2017, Softbank Group Corp announced that it had bought Fortress Investment Group for $3.3 billion.

Fortress will operate within Softbank as an independent business with Randal Nardone, Wes Edens, and Peter Briger continuing to lead the entity. With the merger came the chance for shareholders to sell their shares for $8.08 each.Fortress’ heavy investments in areas such as senior living, mortgages, and infrastructure appealed to the Japanese held Softbank because they represent large amounts of capital invested in permanent capital vehicles worth over $7 billion.Randal Nardone joins his executive partners in praising the merger, adding that the leadership of Masayoshi Son is a great asset to Fortune Investment. They go on to say that Softbank’s scale and easy access to resources will continue to add value to the customers of Fortune Investment Group.

Jacob Gottlieb

Jacob Gottlieb was born in the city of Brooklyn, in the state of New York, to a pediatrician and a professor of economics. Even in his earliest years, he had an avid fascination with both the medical and financial industries, trying to learn as much as possible about both. When he was still in 7th grade, Jacob Gottlieb won a contest at school, which required him to select stocks. After returning home, and sharing the experience with his family, his father showed immense pride in the young boy’s accomplishment. Impressed by Jacob’s apparent insight into finances, he helped him establish his own investment trading account.

 

Gottlieb earned a Bachelor of the Arts in economics at Brown University, and, in 2001, he was awarded a Chartered Financial Analyst charter, given to him by the Association for Investment Management and Research. Afterwards, he decided to pursue a career in medicine, graduating from NYU Medical School with a Doctor of Medicine degree. Afterwards, he served as an intern at New York’s St. Vincent’s Hospital, completing his internship shortly thereafter. However, it was at this point that Gottlieb would decide that medicine simply wasn’t his passion, and he finally made the dive into professional finances.

 

Gottlieb has worked with numerous financial institutions, including, most recently, Visium Asset Management, LLC, a firm which he founded, and at which he served as Chief Investment Officer as well as Managing Partner. Prior to that, he was one of the founding members of Balyasny Asset Management, L.P. He had also gained financial experience internationally, having worked for the London, England based Merlin Financial as an investment portfolio manager. Earlier still was his work as a buy-side analyst for Sanford C. Bernstein & Co., LLC.

 

Jacob Gottlieb’s passion for both the financial and medical industries has caused him to compare the two often. One parallel which he notes is the risk inherent in the two seemingly disparate fields. He states that trading on Wall Street involves immense risk and a careful balancing act between turning a profit and causing a portfolio to collapse. Every act must be thought through completely, but time is also of the essence. The medical industry, he observes, isn’t much different in that it also involves taking calculated risks and trying to find ideal solutions with minimal time.

 

Apart from his professional life, Gottlieb is active within numerous organizations dedicated to helping those in need. His contributions to education via Math for America, the fight against poverty with Covenant House, and, last, but certainly not least, his contributions towards Covenant House, a nonprofit which aims to help homeless youths escape poverty and achieve financial and emotional independence.

 

 

Covenant House

Working against the tide of homeless youths for more than four decades, Covenant House believes that no child should have to suffer through homelessness. Whether they lost their homes due to tragedy, ran away from an abusive household, were simply born into poverty, escaped from human traffickers, or aged out of foster care, none should be left behind. Over its decades of operation, the organization has helped more than a million young boys and girls escape homelessness and earn their independence. Every year, they help over 80,000 more, thanks to the efforts of volunteers and the donations of generous individuals.

 

Richard Blair Continues to Excel With Wealth Solutions

Based in Austin, Texas, Wealth Solutions is a Registered Investment Advisory that has been providing their clients with strategic financial options since its inception in 1994. The founder of Wealth Solutions, Richard Blair, has long held a strong belief in creating efficient plans of action that will allow his clients to achieve their long-term financial goals. Mr. Blair’s aim has always been to provide the community of Austin, Texas with effective retirement options, as well as top-notch wealth management services in order to ensure that his clients’ financial portfolios flourish for that entire duration. The team at Wealth Solutions provides a comprehensive format that includes a three-pillar process for creating and maintaining a successful financial plan. This three-pillar approach begins with creating an accurate roadmap of each client’s strengths, goals, risk tolerance, and opportunity for maximum growth. Gaining a full understanding of a client’s overall financial outlook helps to ensure that the process is as effective as possible for the long-haul. In the second step of Wealth Solutions’ financial process, a long-term strategy specifically developed for each client is created. During this step in the process, Mr. Blair will reallocate and manage the assets of the client to ensure that lucrative investments are made during the most suitable times, while also helping to avoid detrimental investments during negative periods in the market. In the final step of the process, once the goals that have been previously strategized are completed, Mr. Blair will focus on meeting the client’s insurance needs, including long-term care, life insurance, and annuities.

Richard Blair of Wealth Solutions has over 24 years of experience in the world of financial services, beginning his career as a result of his family’s strong background in education. After graduating college in 1993, Mr. Blair went on to found Wealth Solutions in 1994, with the intention of providing sound financial solutions and advice for small businesses, families, and individuals focusing on securing a solid financial outlook for the future. Mr. Blair’s sites his mother and grandmother’s work in the education field as an inspiration due to the way teaching helps to grow confidence in an individual. Today, Mr. Blair’s reputation with Wealth Solutions continues to grow as he consistently provides a wealth of unbiased and objective information to his clients, specializing in both traditional and alternative investment options that help to secure strong financial portfolios for the future. Learn more: http://www.wealthsolutionsria.com/team