Having started his career at Lehman Brothers in the areas of finance in 1987, Wes Edens worked his way up the executive ladder to the position of partner and managing director until 1993. Wes Edens moved on his impressive role at Lehman Brothers to another widely known finance company, BlackRock Financial Management. Edens was eventually promoted to the position of managing director and partner at BlackRock Financial Management.Wes Edens was the impetus behind starting the finance company, Fortress Investments Group. Wes Edens, Mike Novogratz, Peter Birger, Robert Kaufmann, and Randal Nardone were all stakeholders in Fortress’ creation. Wes Edens is currently part of a seven-member board at Fortress Investment Group.In lieu of being the co-founder of Fortress Investment Group, Wes Edens also runs Fortress’ private equity business.
Edens was the driving force behind the acquisition of subprime lender, Springleaf Financial Services. By purchasing Springleaf Financial Services, Fortress Investment Group took over control as Springleaf’s majority stakeholder. Edens became the chairman of Springleaf Financial Services after the purchase was completely finished. In addition to Springleaf, Mr. Edens is the chairman of Nationstar Mortgage, which is a subprime home equity mortgage lender. Nationstar Mortgage was acquired by Fortress for $575 million in 2006.In regards to Wes Edens’ investment style, the Wall Street Journal noted that Wes Edens is creative in his financing, and in his contrarian betting. Wes Edens is also known for being able to build new businesses from his investments.Wes Edens take-home pay was reported to be $54.4 million, in 2016. Bizjournals had reported that the figure (Edens total annual compensation) at Fortress Investment Group was $13.4 million — $41 million of that was received as Fortress Group dividends.
In addition to Edens’ co-founding of Fortress Investment Group, Edens is the co-owner of the Milwaukee Bucks professional basketball team. Marc Lasry — a fellow finance guy — and Wes Edens bought the Milwaukee Bucks from Herb Kohl in 2014 for $500 million.In terms of Wes Edens’ educational background, Mr. Edens earned his bachelor’s of science degree in Business Administration and Finance from Oregon State University in 1984.Wes Edens’ approximate worth was $2.5 Billion dollars in 2007, according to Forbes. Wes Edens had a number 369 ranking on the Forbes Richest List, at age 52. Edens’ net worth has lessened substantially since reaching the $2 billion dollar mark, more than a decade ago.
SahmAdrangi, who is in charge of a hedge fund by the name Kerrisdale Capital Management, has been providing businesses with investment advice and helping managers to come up with effective strategies. At Kerrisdale Capital Management, he is the Chief Executive Officer and leads in the management of over one hundred and fifty million dollars’ worth of assets. He launched Kerrisdale in 2009 with just one million dollars as capital and later grew the company to what it is today using his experience and expertise in business and entrepreneurship. He attained his Bachelors of Arts in Economics degree at Yale University and began his career in financing.
SahmAdrangi first worked for Deutsche Bank. Here, he carried out financial activities like advising the creditor committee and dealing with high-yield and leverage loans. He then worked for Chanin Capital Partners and later founded Kerrisdale Capital management. Kerrisdale publishes different research articles that focus on business, entrepreneurship, and education of the community on various issues. The publications also give people a clear understanding of business practices that are legal, thereby, separating them with the illegal ones. This clears the myths, misunderstandings, and misconceptions that people have on companies such as his.
SahmAdrangi also organizes several conferences where he provides more insight on various business topics to support the community. In the conferences, he welcomes questions about the topics and those who attend leave the venues as better businesspersons and entrepreneurs. Some of the conferences which he has organized include the Sohn Conference, the Distressed Debt Investing Conference, the Traders 4 a Cause conference, and the Value Investing Conference. The audience in these conferences changes from time to time and new faces are seen in each one of them. This means that the number of people who benefit from the conferences is very high.
SahmAdrangi has exposed some companies which fraud people who are not aware of the tricks they use. Some of these companies include China-Biotics and China Marine Food. In doing so, he has protected very many people who would have been victims of the fraudulent activities. Today, Sahm continues to help upcoming firms as well as those that are well established.
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