Achievements of Wes Edens and His Role in Fortress

Achievements of Wes Edens and His Role in Fortress

Group Wesley Eden, the chairman and one of the co-founders of Fortress Investment Group, went to Oregon State University and graduated with B.S in Finance and Business Administration. Wes Edens joined Lehman Brothers in 1987 as a partner as well as the managing director of the firm. He worked in the firm for about seven years. After leaving his first job, he went to BlackRock Asset Investors where he worked for the firm up to 1997. In the year 1998, Wes Edens and other five partners founded Fortress Investment Group, which is located in New York City. Michael Edward, Robert Kauffman were among the founders of the company.Wes Edens together with other partners of Fortress Investment Group became paper billionaires in 2006 when the 15 percent of the company’s shares were acquired by Nomura Holding which is a Japanese financial holding company.

In 2009, Wes Edens was given the role of a Co-chairman of Fortress Investment Group’s Board of Directors. In the same year, eight percent of Fortress share had already been sold to the public for around $600millions. In 2015, he helped the company to purchase Springleaf Financial Services. The value of the Springleaf Holding Inc. was $3.5 billion more than Fortress’s $124 million Investment. Eden managed Fortress’s private equity business. His assignment at the firm quickened the acquisition of Springleaf Financial Services in 2010 for $ 125 million and used it together with Nationstar to establish private equity which runs assets worth about 14.3 billion, purchasing of Springleaf proved to be a worthwhile investment. Edens takes home about $54.4 million annually.

The figure includes his total salary of $13.4 million that he gets paid for his work in the company as well as $41 million that he receives as one of the company’s shareholders per year. He is the co-owner of Milwaukee Bucks, an NBA franchise located in Milwaukee together with Marc Lasry. In 2014, along with his partner purchased a basketball outfit for $550 million. Eden manages more than one team. Fortress owns an eSports team by the name FlyQuest which has a League of Legends team that participate in National American League of Legends Championship Series. Edens is the currently the chairman of Nationstar Mortgage, which initially was known as Centex Equity company, LLC, which was bought by Fortress in 2006 for about 575 million. Back in 2005, Centex was based in around 25 states’ market and over 33,000 homes in United States were delivered by Centex.

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