• August 28, 2022

Wes Edens is an American Businessman and the Co-Founder of the Private Equity Firm Fortress Investment Group

About Wes Edens

Wes Edens is an American businessman and the co-founder of the private equity firm Fortress Investment Group. Edens is also a significant investor in sports teams; he became the majority owner of the Milwaukee Bucks basketball team in 2014 and co-owns a professional soccer club.

He was born July 1, 1968, in Columbus, Ohio. Wes Edens attended Franklin University, where he met Robert Kauffman. The pair later founded Fortress Partners in 1998 and Fortress Investment Group in 1998. Edens graduated from Franklin College and earned a Master of Business Administration from The Wharton School at the University of Pennsylvania.

Career

In 1998, he co-founded Fortress with partners Robert Kauffman and Peter Briger after making a fortune from the buyout of his former company, BlackRock Financial Management. Since that time, he has been on Forbes’s billionaire list. He is currently worth 2.1 billion dollars and is ranked 1294 on the list of the world’s wealthiest people.

In 1999, he was an investor in the Milwaukee Brewers. He and his partners took control of the team from retiring owner William A. DeWitt Jr. and became majority owners.

In 2006, he co-founded SeatGeek with Adam Goldstein and Eric Neigra in their office at 2 University Place in Manhattan. On October 4, 2017, the company was acquired by Ticketmaster for $200 million.

In 2007, he became the interim CEO at Fortress after the departure of Randal Nardone. Edens has been the CEO of Fortress since 2010. In 2012, Edens was one of the largest U.S. individual holders of gold. In 2016, Fortress began selling bonds backed by ownership in a firm’s portfolio company, Fortress Technology Securities. The bonds generally follow the performance of Fortress Technology’s stock assets; some are convertible into shares of Fortress’s shares at a 1:1 ratio.