Believing In The Underdog

Wesley Edens is the co-founder of Fortress Investment Group. He is known for diving back into the lending market no later than a couple years after the financial crisis. Today, Edens and Fortress are contributing over $3 billion to create a private passenger train in Florida. His investment seems risky because self-driving cars are on the horizon. Edens is no stranger to risky deals. In 2014 Wes Edens bought a portion of the NBA’s Milwaukee Bucks. He is the co-owner of a team who hasn’t won a championship is close to 50 years. He also invested heavily in a struggling English soccer club called Aston Villa. Wes Edens says he wants to see things as they are and not necessarily how other people see them. His ability to see potential in an otherwise doubtful project is what sets him apart. See more information about Wes Edens at wealthx.com

 


Gaining Success

Wes Edens gained most of his success while leading Fortress. He became the co-founder in 1998 and he remains the co-CEO today. In 2007, Fortress was one of the initial private equity firms going public. Edens gained $2.3 billion stake in that process. Ten years later, Softbank purchased Fortress for $3.3 billion. That purchased earned Wes Edens a 40% premium on his stake’s initial value.

Early Days

Wes Edens had a psychologist father and a schoolteacher mother. He was raised on a ranch in Montana, and spent the majority of his childhood days outdoors. Edens says there were only two TV stations you could watch, so you either read a book or went outside. In his teenage years he took an interest in competitive skiing. Today he still skis around Jackson, Wyoming. He just opened a luxury hotel in the area called the Caldera House.

Education

Wes Edens got his degree in finance and business administration from Oregon State University. When he finished school in 1984 he landed a job at a bank in San Francisco. One of his acquaintances at Merrill Lynch suggested that he try his talent with Wall Street. He took the advice and moved to New York where he earned a position at Lehman Brothers.

Learn more: http://www.industrialareasfoundation.org/topics/wes-edens

 

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