Wesley (Wes) R. Edens is one of the co-founders of Fortress Investment Group LLC. This is an alternative asset management firm which was established in 1998 in New York City. Over the past 20 years it has expanded globally and now has offices around the world. He is this company’s principal and co-chief executive officer. His role at this company is to manage its private equity business. The key areas in which he invests are real estate, health care, transportation and infrastructure, media, and financial services. He is a graduate of Oregon State University where he earned his bachelor’s degree in finance in 1984.
Before co-founding Fortress Investment Group, Wes Edens worked for Lehman Brothers. He made partner while he was there and was the managing director. He then joined BlackRock Financial Management, Inc. While there he was in charge of BlackRock Asset Investors which is a private equity fund.Additionally, he is one of the owners of the Milwaukee Bucks which is an NBA team. The other owners is Marc Lasry. He also owns FlyQuest which is a team in the League of Legends.In his role at Fortress Investment Firm, Wes Edens had his company buy Springleaf Financial Services. This is a subprime lender which his company bought for $124 million in 2010. By 2015 its value had gone up to $3.5 billion which meant that his investment paid off over 27 times what it cost to buy this company.
After the purchase he became the chairman of this company. Wes Edens is also the chairman of the board of Nationstar Mortgage. This is a subprime equity mortgage lender. He had Fortress Investment Firm buy this company in 2006 for $575 million. Today this company is worth $1.8 billion. In his personal life, Wes Edens is married to his wife Lynn. They have four children together. He enjoys active hobbies in his free time which includes things such as mountain climbing and horse jumping among others. He lives in a home in Central Park West for which he paid $17 million in 2014. This is a 6,000 square-foot duplex pad which features stunning views of Central Park from most of the rooms. He is worth an estimated $2.5 billion according to Forbes Magazine’s rankings of the worlds wealthiest billionaires.