Glenn Laken

Finally, answers to the question, who is Wes Edens?

Make an acquaintance with the proficient American businessman, hedge fund manager, and private equity investor Wes Edens. He was born in 1961, resides in New York, and is married to Lynn Edens and together they have four children. Among his hobbies are mountain climbing and horse jumping. He is a co-founder of Fortress Investment Group, an investment management company located in New York City.

Wes Edens is also the Chairman and CEO of Newcastle Investment Holdings LLC. He also serves as the Chairman of many companies, to mention a few, Drive Shank Inc., Springleaf Financial Services, Mapeley Limited and Nationstar Mortgage. Not to forget, he is a Trustee at US Ski and Snowboard Team Foundation. He is also the co-owner of a National Basketball Association franchise, the Milwaukee Bucks, located in Milwaukee, Wisconsin. Also, he owns FlyQuest, a League of Legends eSport team located in the US.

He went to school at Oregon State University, and he holds a Bachelors of Science degree in Finance. In 1987, the start of his career, he was working as a partner and managing director at Lehman Brothers. After that, he worked at BlackRock in their private equity department where he also made partner and managing director. From BlackRock, he went to Fortress Investment Group in 1998 where he was among the five principal partners and at one point the Chairman of Fortress Transportation and Infrastructure Investors.

In 2006, Nomura Holdings, a Japanese based financial holding firm gained 15% of Fortress for a whopping $888 million, and the earnings went to Fortress’ five principals, making Wes Edens and the other four partners paper billionaires. In 2008 he was number 962 in the Forbes world’s billionaires list. He helped Fortress make a comeback, after its stock value plummeted, through providing subprime lending. Fortress employees say that the company is a good place to work in, with a rewarding environment.

He has a take-home pay of $54 million per year. He gets a yearly total compensation at Fortress Investment Group of well over $13 million and around $41 million in dividends he acquired as a shareholder. Fortress Investment Group outlines to the US Securities and Exchange Commission list that Wes Edens’ total remuneration is from the summation of his $200,000 pay, about $1.1 million in stock compensation, a bonus of $11.6 million, and about $478,000 in other remunerations.

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