Having begun his career in finance at Lehman Brothers in 1987, Wes Edens worked his way up the executive ladder to managing director and partner until 1993. However, Wes Edens moved on from Lehman Brothers to the well-known finance company, BlackRock Financial Management, Inc. While at BlackRock, Edens worked his way into the role of managing director and partner until 1997. In 1998, he helped to create Fortress Investments Group with Peter Briger, Mike Novogratz, Robert Kaufmann, and Randal Nardone. Edens is part of a seven-member board at Fortress. Edens’ investing style has been regarded by the Wall Street Journal as creative in terms of his financing, his contrarian betting, and his talents with building new businesses with his investments.In 2016, Wes Edens reported take-home pay was $54.4 million.
Bizjournals had reported — via The New York Times — that the figure (Edens’ total annual compensation) at Fortress Investment Group was $13.4 million. And approximately $41 million of that was received in dividends from Fortress.Edens at one time held 63.3 million shares of Fortress Investment Group stock. Edens has also appeared on the “Very High-Earning Private Equity Executives” list. In addition to being the co-founder at Fortress, Edens also runs the company’s private equity business. Edens was the main impetus behind the acquisition of subprime lender, Springleaf Financial Services, which was then known as American General Finance. With the purchase of Springleaf Financial Services, Fortress Investment Group became Springleaf’s majority stakeholder.
Wes Edens became the chairman of Springleaf Financial Services after their purchase had been finalized. Mr. Edens is also the chairman of Nationstar Mortgage — a subprime home equity mortgage lender — which was purchased by Fortress in 2006 for $575 million.In addition to being the co-founder of Fortress Investment Group, Wes Edens is currently the co-owner of the Milwaukee Bucks pro basketball team. Edens and Marc Lasry — a fellow finance guy — purchased the Milwaukee Bucks in 2014 from Herb Kohl for $500 million dollars. Edens and Larry made a promise to keep the NBA team in the state of Wisconsin after they purchased the team. Edens’ educational foundation includes a bachelor’s of science degree in Finance and Business Administration in 1984 from Oregon State University.In 2007, Edens’ approximated worth was at $2.5 Billion dollars according to Forbes. At 52, Wes Edens was ranked number 369 on the Forbes Richest List.