Wes Edens And Fortress Investment Group Expand Their Territory
Wes Edens, co-founder, and Principal of Fortress Investment Group has been a busy man in recent times. Mr. Edens is the co-owner of the Milwaukee Bucks of the National Basketball Association and recently completed a sale of Fortress to the Japanese company SoftBank Group Inc. for $3.3 billion.
The total proceeds received by Mr. Wes Edens resulting from the sale of his stock was $512 million and the company will continue to operate as it has in the past with Edens, along with the company’s two other principals, Randy Nardone, and Peter Briger receiving five-year contracts to continue to operate the company.
SoftBank is a Tokyo-based company that was founded by Japanese businessman Masayoshi Son.
Another interest that has kept Wes Edens busy lately is the recent offering by Brightline, the nation’s only privately owned rail system for passengers, that will now add a route that will now run between Miami and Ft. Lauderdale. This is in addition to the West Palm Beach and Ft. Lauderdale route that Brightline has been offering since January of this year.
Passengers utilizing services by Brightline will have access to free wifi, USB ports, and Power outlets from the comfort of their leather seats. Lounges and food service is also available on the trains.
Brightline also falls under the Fortress Investment Group umbrella and the aspirations are big. There are plans for a station in Miami that will be six city blocks long, as well as shops, a food hall, and residences to be constructed. There is also a vision that will one day result in the Brightline train system connecting to other transit networks.
Wes Edens has been on record discussing his intent for Brightline to extend to other states in the country but has stopped short of discussing reported plans to establish service that will run between Chicago and Milwaukee. However, talk of a rail that will run between Chicago and St. Louis has been openly said to be in the works.
Edens attended Oregon State University where he earned a bachelor’s degree in Finance. Before becoming a co-founder of Fortress in 1988, Wes Edens was the head man at BlackRock Assets Investors and has also worked at Lehman Brothers.
Wes Edens’s Facebook Page: www.facebook.com/public/Wes-Edens