Wes Edens is ranked at number 962 on Forbes list of billionaires. The net worth of $1.2 billion is massive by most people’s standards. The startling fact is that Wes Edens made his money doing things that most people said would not make money at the time that he did them.The latest New York Time evaluation of investment firm salaries lists Wes Edens as one of the highest paid people in the business. He makes in excess of $54.4 million a year. His salary is a paltry $200,000. The majority of his income comes from stock dividends and a huge bonus. The amount of money that he earns for his company more than justifies the bonus that he receives.Wes Edens only has a Bachelor of Arts from Oregon State University in finance. He worked in a variety of positions until he became a partner at both Lehman Brothers and BlackRock Asset Investors. He was one of five founding partners of Fortress Investment Group at the age of 36.
Wes Edens was primarily involved in the private equity function at Fortress. He personally oversaw the restructuring of the organization from near financial disaster through a unique subprime lending operation.Edens presently leads Fortress’s private equity business. Much of this business was acquired from AIG in an opportunistic purchase when all indications were that subprime lending was dead. The initial investment has grown by 245 percent in six years. He also manages Nationstar Mortgage.Edens purchased the Milwaukee Bucks with Marc Lasry after the worst season in the team’s history. The $550 million price tag came with a promise to construct a new stadium and keep the team in Milwaukee where attendance had hit an all time low.
The Bucks made the playoffs three years after the purchase.One of his latest ventures is ownership of an eSports team. FlyQuest is a part of the League of Legends franchise. The game was fully developed for launch in January of 2017. The acquisition required some legal maneuvering in order to be compliant with international gaming regulations for ownership. The key to making money in games is what you buy in the game. Edens knows how to spot an opportunity. This knack for seeing what others do not see has made him and Fortress Investment Group extremely successful. The ability to overcome bad times by using misfortune as a catalyst for growth is an opportunistic approach that few have the stomach for. This approach paid off for Edens again and again.