Why Randal Nardone’s success will forever remain an inspiration to budding entrepreneurs
Life has a funny way of getting us to our destination. For instance, when Randal Nardone was pursuing his Juris Doctor at Boston’s university school of law, he had no clue that he would one day become one of the most influential people in the world of finance.
A few decades later he is not only influential but also one of the wealthiest individuals in the world, ranking #557 on Forbes list world billionaires. Randal who also holds bachelor’s degrees in biology and English is the current chief executive of an alternative investment giant known as Fortress which he helped form in 1998.
A look at how this happened
Randal Nardone’s story perfectly defines an auspicious twist of fate. As noted earlier, he was once a lawyer but realized that litigation is not something Randal Nardone wanted to wake up every day to, and hence made his way to finance. Despite being a newcomer to this realm, his incredible accounting skills soon saw him secure the position of principal at Blackrock financial management.
It is during this period that he first rubbed shoulder with his now business partner, Wes Edens. Randal Nardone served in this position until 1997 and made a transition to UBS. He was appointed the managing director, a role he served for one year and joined hands with Wes Edens and Rob Kauffman in 1998 to establish Fortress Investment group. He has been serving as principal of the firm until 2013 when he was promoted to CEO.
Randal Nardone is an incredibly busy man because, besides Fortress, he is also a senior member of other finance companies such as AirCastle limited where he serves as director, Springleaf Financial holdings where he is the chairperson and Eurocastle investment LLC among many others.
His success can be attributed to his ability to make sound investment choices, as well as his friendly interactions with his juniors. For instance, almost all employees at the company only have positive things to say about him, and the interns share similar sentiments as well. Under his radar, Fortress Investment Group has gone on to become one of the most successful companies and now oversees assets worth over $50 billion.