Private equity investor and businessman investor Wes Edens is a 1984 graduate of Oregon State University. Edens earned a BS in finance and business administration, then was hired by the financial services company Lehman Brothers in 1987. By the time Wes Edens left the company in 1993, he had worked his way up to partner and managing director. Edens then joined Blackrock Asset Investors, the private equity division of Blackrock. He spent 4 years with the company as partner and managing director. Then in 1997, he decided to start to build his own company called Fortress Investment Group.In 1998, working with Robert Kauffman, Randall Nardone, Michael Novogratz and Peter Briger, Wes Edens started Fortress Investment Group as a private equity firm.
The Wall Street Journal described the investment style of Edens as consistently employing creative financing, contrarian bets, along with the ability to build a business from investments. In 2007, Fortress Investment Group became the first private equity firm to be traded publicly.After Fortress Investment Group sold 15% of the company to Nomura Holdings, a Japanese financial holding company, for $888 million in 2006 and in 2009 sold an 8% share for $600 million, Edens was ranked number 559 on the Forbes billionaires list with a net worth of $1.2 billion. Running the private equity business is Edens’ role at Fortress Investment Group. He recommended that Fortress should become majority owner of Springleaf Financial Services in 2010 for $124 million. By 2015 Springleaf’s value increased to $3.5 billion, 27 times what Fortress Investment Group paid for its stake in it.
In addition to Wes Eden’s work with Fortress investment Group, he is also the chairman of Nationstar Mortgage. Plus, Edens is co-owner of the National Basketball Association’s Milwaukee Bucks. The team cost $550 million and Edens promised to build the team a new arena and keep the Bucks in Wisconsin. He’s also the owner of FlyQuest, a team in the professional video gaming e-Sports League of Legends. The husband and father of 4 is also actively involved in sports in his free time. His hobbies include mountain climbing as well as horse jumping.In 2009, Edens became the co-chairman of Fortress Investment Group’s board of directors. He also helped the company navigate the subprime mortgage crisis and rebuild its value after crisis was over. Wes Edens was also Fortress Transportation and Infrastructure Investors chairman from 2015 to 2016.
If there is one common thread in the career of Wes Edens, it is his ability to leverage every opportunity to the fullest extent. Ever since he graduated from Oregon State with a business and finance administration degree, he has made his way from organization to organization and always leaves companies in a better position than when he started.After cutting his teeth with Lehman Brothers as a managing director and a partner, he became a member of the BlackRock private equity team. These experiences shaped his mindset going forward and when he left BlackRock to found the Fortress Investment Group, he was well positioned to push the company forward.He was one of five partners to found Fortress Investment Group and it would soon become apparent that Wes Edens had a knack for choosing winners. His contrarian betting style and willingness to step outside of the box allowed Fortress Investment Group to prosper and become a billion dollar enterprise.
When the company’s stock price dipped beneath one dollar, Wes Edens came up with the plan that would reverse these fortunes. The subprime mortgage crisis was the cause of the issues and to remedy the problem, he had a simple solution: offering subprime lending.Fortress made him the chairman of their Transportation and Infrastructure Investors LLC as well. By the time he stepped down from this post, he had become a billionaire on paper and was taking home $54 million in take home pay each year, according to BizJournals reports.These experiences allowed Wes Edens to acquire the knowledge he would need to make the next big step. He has become a co-owner of the NBA’s Milwaukee Bucks and after nearly doubling the franchise’s initial valuation in short order, he’s now set his sight on the world of e-sports.
After investing in a League of Legends team initially, he has expanded his interests even further. Edens is launching an e-sports brand that all his own. FlyQuest is a league that will provide a home for the team that he has already purchased and further expansions are planned.Now that the NBA is embracing the world of console gaming, professional NBA 2K teams are being assembled and Wes Edens has already staked his claim. The Bucks are one of 16 teams that are prepared to participate. With a track record like Edens, it would be foolish to bet against him as he continues to make a name for himself in the e-sports universe.
Richard Dwayne Blair is a successful financial advisor who serves hundreds of clients each year. Unlike many financial advisors, Richard Dwayne Blair takes time to teach clients about different investing topics. He is passionate about helping clients with their finances. Most people struggle with various areas of their finances. By focusing on critical areas to improve, most people can drastically improve their financial position.
Richard Dwayne Blair focuses on a few areas with each client. His approach to building wealth is simple, but the plan works for people who follow it.
Reduce Fixed Expenses
One of the biggest reasons that people do not save and invest is that they spend too much money each month. The most significant expense for most people is housing. Housing costs may include a mortgage payment or rent. In many areas of the country, housing costs have increased drastically in recent years.
Many people also struggle with high levels of debt. Debt is hard to pay down, and it can create a financial mess without proper planning. The worst kind of debt is credit card debt. The average person has thousands of dollars in credit card debt. Richard Dwayne Blair encourages people to pay down all debt outside of a mortgage.
Richard Dwayne Blair is unique in that he also tells clients to increase their income. By working an extra job or starting a business, people can drastically improve their finances. There are more opportunities than ever to work an extra job to earn additional income.
Invest the Rest
With higher income and lower expenses, it is much easier for people to invest successfully. Investing a significant amount of money each month is critical to financial success. Most people worry about which investments to choose. Richard Dwayne Blair recommends choosing investment funds with a long track record of growth.