Wesley (Wes) Edens is an entrepreneur in the financial industry. He graduated in 1984 from Oregon State University with a bachelor of science degree in business administration and finance. He then moved to New York after finding a position at Lehman Brothers. Before long he was both the managing director and was a partner of this firm. In 1997 he left in order to join BlackRock Asset Investors, the private equity subsidiary of BlackRock. He was also the managing director and a partner of this firm as well. In 1998, Wes Edens joined with four partners to found Fortress Investment Groupo, LLC. These partners were Robert Kauffman, Michael Edward, Randal Nardone, and Peter Briger.
They built this firm based on making contrarian bets in the financial industry. They bought companies whose value had been beaten down, in their view unfairly. They also invest in credit private equity as well as credit hedge funds. Wes Edens now serves as the principal of Fortress as well as one of two co-chief executive officers. Additionally, he has had a seat on the board of directors since 2006 and is on the Management Committee as well. His role at this firm is to manage their investments in private equity as well as publically-held firms. In 2014, Wes Edens became a team owner in the National Basketball Association. He bought the Milwaukee Bucks for $550 million, along with his business partner Marc Lasry.
During the purchase process, Wes Edens had promised to not only keep the team in Milwaukee but to get a new arena built. He was true to his word and a new arena is going up, which is tentatively named Wisconsin Entertainment and Sports Center. The stadium is costing $425 million to build and will be used for other events than NBA games as well. Additionally, he just welcomed the Green Bay Packers QB Aaron Rodgers as a new owner of the team.According to the Milwaukee Business Journal, Wes Edens earns $54.4 million a year from Fortress Investment Group. He earns additional money from his ownership of the NBA team and he also earns money from FlyQuest, a professional team in the League of Legends. This eSports team was established by him in January 2017. As a new team they weren’t expected to do well that first year but they surprised everyone when they earned a 6-2 record to start the year.