He helped create an investment management firm from scratch, guided it through the Great Recession, and in 2017 sold it for $3.3 billion. Wes Edens now hopes that success will carry over into some of his other endeavors.
Edens’ grew up as far from the world’s financial capitals as one could get. He spent his boyhood on his family’s ranch in Montana, where as he tells it he had his choice of only two TV stations to watch. After graduating from high school, he went to Oregon State University, where he received a degree in finance and business administration. His first job out of college was at a small bank in San Francisco. Later, Wes Edens moved to New York to work on Wall Street. This is where he found success, to the point he co-founded Fortress Investment Group in 1998. While the company did take its lumps during the Great Recession of 2008, Edens still kept his company afloat. He even purchased a majority stake in the subprime lender Springleaf Holdings for $124 million. At present, that company’s net worth is in excess of $3 billion. More about of Wes Edens at Crunchbase.
Springleaf is not the only operation Wes Edens hedged his bets on. He and Fortress are sinking nearly $3 billion into the construction of a passenger rail service in Florida. This at a time when travel by train is barely in the news. Edens also owns not one, but two sports teams, the NBA’s Milwaukee Bucks and Aston Villa, a football — soccer — club in England. Neither franchise was doing well when Edens stepped in to buy them. Prior to purchasing the Bucks in 2014, the team had not advanced past the first round of playoffs since 2001, and won just one NBA Championship in 1971. Aston Villa, meanwhile, has struggled for years as was dropped from the Premier League to the Championship League. Wes Edens hopes to see both teams become contenders soon in their respective sports.
More about of Wes Edens: http://www.nba.com/bucks/bio-wesley-r-edens