Wes Edens is an American businessman and investor who is most well-known as the co-founder of the Fortress Investment Group. He also owns several sports team, like the Milwaukee Bucks under the National Basketball Association and FlyQuest under League of Legends. Wes Edens graduated from the Oregon State University, where he received his Bachelor of Science degree in Finance and Business Administration. Right after graduating, he looked for a job and found a career as a managing director at Lehman Brothers. He worked with the company for six years, from 1987 to 1993, and he started to acquire knowledge on hold to properly invest his money. He transferred to BlackRock Asset Investors, later on, working there for four years as a managing director.
Realizing that he could also create his own business to gain more profit, Wes Edens invited several business partners, and together, they established the Fortress Investment Group. The company was founded in 1998, and by providing his skills and expertise on how to handle the finances, the company grew tremendously. He would also invest his money on other options to gain additional profit, and in 2007, his style in investing was revealed by The Wall Street Journal. The Fortress Investment Group went available for public trading in 2007, and more than 8% of the company shares were sold to the public, valued at around $600 million.
Wes Edens continued to drive the company to success, and he was able to purchase several assets for the company in 2007. They have several private equity funds, hedge funds, and real estate vehicles, and all of it went public. In 2009, Wes Edens served as the co-chairman of the company’s board of directors, and he is responsible for helping the Fortress Investment Group recover from its falling stock market value. He stated that the crisis in the mortgage industry kicked off the hasty decrease in their company share price, falling below one dollar.
In 2014, he purchased the team Milwaukee Bucks, playing for the NBA. It was reported that he had to pay $550 for the transaction, and he even promised that a new arena for the team would be built somewhere in Wisconsin. Wes Edens has also seen the potential in investing in online gaming, and in January 2017, he announced the formation of an e-sports team that will be handled exclusively by the Fortress Investment Group. The team was named FlyQuest, and the members are competing for League of Legends and are based in North America.
Wes Edens’ contribution to the growth of the Fortress Investment Group is undeniably instrumental for their success. His skills and expertise in the field have helped the company reach new heights. They also could handle essential events because of these breakthroughs, like the sponsorship of the creation of an Olympic Village during the 2010 Vancouver Olympics. In the present, Wes Edens is busy handling the teams and companies that he purchased through the years, and he is looking for other investment options that would expand his business empire.
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