Self-made billionaire Wes Edens has developed a very impressive profile in a very short amount of time. He has co-founded the Fortress Investment Group, along with Rob Kauffman and Randal Nardone. Where does billionaire Wes Edens rank on Forbes List?
Building Wealthy Portfolio
Everyone wants to add valuable financial assets to their wealth portfolio, but not everyone achieves this goal. What is the difference between billionaire Wes Edens and others? Why is he successful while others fail?
“An eye for value”
Wes Edens graduated from Oregon State, where he studied finance. He led the private equity division of Black Rock Financial. Then, he moved onto Lehman Brothers. In 1998, Mr. Edens and others co-founded the Fortress Investment Group. The Fortress was the 1st hedge fund to go public. This generated a lot of interest and made the principals instant billionaires. Financial expert Wes Edens saw the potential for hedge fund value and profited from his foresight.
Wes Edens Forbes Billionaire Ranking
Successful entrepreneurs do not rest on their laurels and neither did Mr. Edens. What is a good way to invest billions? Sports.Therefore, Mr. Edens became part owner of the Milwaukee Bucks NBA franchise. Forbes calculated that the Milwaukee Bucks were worth $1.075 billion. The team has seen a resurgence with the signing of Forward Giannis Antetokounmpo.Forbes reckoned that the Milwaukee Bucks’ gate receipts were $28 million, revenue per fan were $35 and wins-to-player cost ratio was 102. The Bucks are proud to open a brand new $524 million arena, which is part of a 30-acre downtown development with apartments, practice facility and retail establishments. Sports is big business.The NBA is one of the most popular sports associations in the world. It attracts a fairly young fan who keeps close tabs on the players and teams. With 24/7/365 ESPN coverage, there is always someone talking about sports.According to Forbes, all of these wise investments have made Wes Edens, the 962nd most wealthy man on “The World’s Billionaires 2008″ list. Foresight, timing and a good eye for value have been some of Mr. Eden’s best traits. He continues to invest in popular, rising brands.Wealthy individuals understand that man is naturally attracted to certain products and services. These brands can become the most valuable, given proper management. Billionaire Wes Edens has a good eye for value.