Born in October 1961, Wesley Robert Edens is a successful American businessman, private equity investor, and a Bucks team owner. He received his B.S in Finance and administration from Oregon State University in 1984.He started his career in 1987 at Lehman Brothers as an MD untill 1993. He later proceeded to BlacRock’s private equity division working as a managing director and a partner.It was at BlackRock that he created his first private equity fund that was referred to as BlackRock Asset Investors.In 1998, together with Robert Kauffman, Peter Briger, Randal Nardone and Michael Edward, he founded Fortress Investments Group.Wes Edens, who runs Fortress’s private equity business was the influence at Fortress’s purchase of subprime lender Springleaf Financial Services which was then known as American General Finance.
This made Fortress the Springleaf’s majority stakeholder. By 2015, the value of Springleaf had drastically increased to $3.5 billion gain, this value was 27 times more Fortress’s initial investment of just $400 million in 1998.In 2018, Wes Edens sold the Fortress Investment group to SoftBank, a Japanese Corporation. It was sold at $3.3 billion. Nevertheless, he retains his leadership role in the New York based business in a five year deal.He is a great Philanthropist who has donated over $2.8 million to charity. He has donated to many academic institutions, health centres and nonprofit organizations.Macalester College and Martha’s Vineyard Hospital are the top beneficiaries of his philanthropy work
His private equity management experience and astounding knowledge in the business field makes him an highly sought after director. In 2014, together with Lasry Marc, he bought the Bucks team from Herb Kohl for $550 million. He promised to keep the team in Wisconsin and build them a new arena to replace the BMO Harris Center. The Bucks basketball team is currently valued at $1.1 billion.Wes Edens is a high earning private Executive. His annual “take-home” pay is open to debate but he takes home a cool annual $54.4million. This includes his annual total compensation at Fortress Investment group and dividends received as a shareholder.Wes Edens and his wife Lynn Edens have 4 children. His hobbies include horse jumping and mountain climbing. He has scaled the heights of Mt. Kilimanjaro and the Matterhorn Grand Teton. In his youth, he was a competitive ski racer and now he is a trustee of Ski and Snowboard Foundation team in the U.S.A.
Could calling Wes Edens an investor or a businessman fully describe his qualifications and ranks? Definitely, it is not the ultimate of who he is but it is significant in describing a part of him. Besides being one of the most successful business people on American soil, he is a great investment guru in private equities and also a great sportsman. Born in late 1961, he focused on education so as to achieve his dreams and by 1984; he was awarded by Oregon State University with Bachelor of Science in Finance and Business Administration. Mr. Wes Edens is the Co-Founder of Fortress Investment Group and Milwaukee Bucks which is a National Basketball Association (NBA) in Wisconsin and also owns League of Legends team known as Fly Quest which is a video gaming made of professional. In fact, the team is known to be competing in NA League of Legends Championship Series. In partnership with Marc Lasry in 2014, he bought Milwaukee Bucks from its owner, Herb Kohl for $550 million.
For a team to be in NBA, it means that it has qualified players because the Association consists of professionals in basketball.Before joining Fortress Investment Group, Wes Edens commenced his career as a Partner and a Managing Director at Lehman Brothers from 1987 to 1993. He later joined BlackRock Asset Investors where he held similar positions and served till 1997. In 1998, Wes, Pete, Rob, Randy, and Mike founded Fortress Investment where he built businesses from his investments and through creative financing. He was among the guys who took the company public via its IPO in early 2007. With the 15% acquisition of Fortress by Nomura Holdings, which is a Japanese financing company, Wes and his fellow partners became the latest billionaires in town in 2006. In 2009, he was the Co-Chairman of the Fortress Board of Directors.
Wes Edens spearheaded the acquisition of Springleaf Financial Services which increased the investment of the Fortress after its holdings value increased tremendously in 2015. This achievement made him be referred to as the new king of subprime lending by one of the popular journals, Wall Street.Wes Edens has served as the Chairman at Nationstar Mortgage, Springleaf Financial Services, New Senior Investment Group, Mapeley Limited, GateHouse Media, Newcastle Investment Group, and Capstead Mortgage Corp among many others. His great expertise and experience have made him serve in more than 40 firms, and institutions as a Director, Co-Chairman, Vice CEO, Chairman, President, Co-Founder and/or CEO. He likes horse jumping and also mounts climbing as his hobbies.