Home Business Leader, Business Success • Wes Edens is not only the co-founder of Fortress Investment Group and chairman of Springleaf

Wes Edens is not only the co-founder of Fortress Investment Group and chairman of Springleaf

Financial Services and Nationstar Mortgage, but he is also the co-owner of the Milwaukee Bucks professional basketball team. Wes Edens began his storied financial career with Lehman Brothers in 1987. Wes Edens worked his way up the corporate ladder to the position of managing director and director until 1993, when he left Lehman Brothers for another well-known finance company, BlackRock Financial Management. Wes Edens landed the role of managing director and partner at BlackRock Financial Management. Edens ended up leaving BlackRock in 1997 to co-found the financial firm, Fortress Investments Group, in 1998. Wes Edens, Peter Birger, Mike Novogratz, Randal Nardone, and Robert Kauffman were the key stakeholders in the creation of Fortress Investment Group. Today, Wes Edens is part of a seven-member board at Fortress Investment Group.

Wes Edens style of investing has been noted by the Wall Street Journal as creative in regards to his contrarian betting, his financing, and his impressive talents when it involves developing new, yet successful businesses from the investments his company makes.Wes Edens take-home pay was noted as $54.4 million — as reported by Bizjournals (via The New York Times) The $54.4 million figure (Edens total annual compensation) at Fortress Investment Group was actually $13.4 million — approximately $41 million dollars of take-home pay were dividends that he had received from Fortress. Edens held 63.3 million shares of stock in Fortress at one point. Wes Edens also runs Fortress’ private equity business. Edens was the main impetus behind the acquisition of subprime lender, Springleaf Financial Services.

Springleaf was once known as American General Finance. With the purchase of Springleaf Financial Services, Fortress Investment Group became Springleaf’s majority stakeholder. Edens inherited the chairman position at Springleaf Financial Services.Edens is not only the co-founder of Fortress Investment Group, but he is also the current co-owner of the Milwaukee Bucks. Wes Edens and Marc Lasry developed a business partnership together in 2014 and purchased the Milwaukee Bucks. Herb Kohl sold it to Eden’s and Lasry, but they had to make a promise to keep the Bucks in the state of Wisconsin if they purchase the team. Edens and Lasry ended up purchasing the Milwaukee Bucks NBA franchise for $500 million.Edens received his Bachelor’s of Science degree in 1984 in Finance and Business Administration from Oregon State University.At one point Wes Edens’ was worth nearly $2.5 Billion dollars in 2007, according to Forbes. Wes Edens was ranked #369 on the Forbes Richest List when he was 52.

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