Wes Edens is one of the multimillionaires who have an exciting business background. His net worth is believed to be at least $950 million, and he holds one of the essential positions in the Fortress Investment Group. As one of the principals and the founders of the company, he is easily a recognizable figure in the world of finance. Wes Edens began his career when he worked with the California Savings and Loan. At that time, he also served at firms like Merrill Lynch and Smith Barney where he acquired some of his knowledge in wealth management. Later on, he worked for the Lehman Brothers where he served in the division for mortgage trading. There, he was a partner and managing director until he ended the stint in 1993.
Right after his place at the Lehman Brothers, he switched to BlackRock and also became the partner and managing director of the company’s affiliate firm called BlackRock Financial Management. While working in this division, he was able to form his first ever private equity fund. He called it the BlackRock Asset Investors. Four years later, Wes Edens became a part of UBS where he served as the managing director of the company’s affiliate as well. While most of the knowledge that he has acquired that allows him to make sound financial decisions is his experience with the various firms he worked with, he also credits his education for his smart choices. He graduated from the Oregon State University (OSU) and later focused on making money on his own.
In 1998, he formed the Fortress Investment Group, along with other investors. The company helped him to become one of the top business people during that time. It enabled him to become a known force in the financial industry.Almost 20 years later, it was announced that the Fortress Investment Group would be purchased by the Softbank Group, which is a Japanese company. The all-cash deal garnered a total of $3.3 billion for the acquisition of the company. After the transaction, Fortress will still function as an independent business, but it will operate within the Softbank Group.With the deal closed, there are some sources that state that Wes Edens and the other leaders in the company will reinvest about half of what they have been paid after taxes. The money that they received will go back to the funds of the Fortress so that they can continue to lead the company.