Wes Edens’ Net Worth: Early Life, Career And Investments

What is Wes Edens’ Net Worth?

Wes Edens’ net worth amounts to $4.3 billion.

He amassed his fortune through his role as the co-founder of Fortress Investment Group, a billionaire businessman, and private equity investor.

Additionally, Edens has made substantial investments in sports, co-owning the NBA franchise Milwaukee Bucks and the association football holding company V Sports, which possesses the English Premier League team Aston Villa.

He also founded New Fortress Energy and co-founded Cincoro Tequila.

What Is Wes Edens' Net Worth?
What Is Wes Edens’ Net Worth?

Early Life and Education

Born on October 30, 1961, in Helena, Montana, Edens was involved in competitive skiing as a teenager.

He pursued his higher education at Oregon State University, earning his BS in 1984.

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Wes Edens Net Worth: Career Beginnings

Edens commenced his career at Lehman Brothers in 1987, where he served as a partner and managing director until 1993.

Subsequently, he joined the private equity division of BlackRock until 1997.

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Fortress Investment Group

In 1998, Edens, along with Rob Kauffman and Randal Nardone, established the investment management firm Fortress Investment Group in New York City.

The company diversified into hedge funds, debt securities, and real estate investments.

In 2007, Fortress became the first large private equity firm in the United States to be publicly traded on the NYSE.

The firm’s assets under management included 14 private equity funds, four hedge funds, and two real estate vehicles by that time.

Among the companies acquired by Fortress-managed funds were Intrawest, RailAmerica, Florida East Coast Industries, Nationstar Mortgage, and Springleaf Financial.

Additionally, in 2014, Fortress successfully bid for the assets of the Montreal, Maine and Atlantic Railway following its bankruptcy after the Lac-Mégantic rail disaster in Quebec, Canada.

New Fortress Energy

In 2014, Edens founded New Fortress Energy, a global natural gas supply and infrastructure company.

The aim was to become one of the world’s leading producers of carbon-free energy and operate as a net zero emissions company.

In 2019, New Fortress constructed a nearly $1 billion floating LNG terminal in Jamaica’s Old Harbour Bay to lower energy costs in the country.

Since then, the company has engaged in various philanthropic initiatives in Jamaica.

Through its renewable hydrogen division, Zero, New Fortress has partnered with startups to advance green hydrogen technology.

In early 2021, the company acquired the natural gas company Hygo Energy Transition and Golar LNG Partners.

Cincoro Tequila

Alongside Michael Jordan, Jeanie Buss, Wyc Grousbeck, and Emilia Fazzalari, Edens co-founded Cincoro Tequila in 2016.

The brand produces four tequilas: a blanco, a reposado, and two different añejos.

Cincoro ages its tequila in American whiskey barrels for 10 to 14 months, besides the regulatory minimum of 14 months, using agave hand-selected from two regions in Jalisco.

Owned by Cinco Spirits Group, the company is named after the five founders who sought to craft a tequila as smooth and rich as a fine whiskey or cognac.

Sports Ownership

Driven by his passion for sports, Edens has made significant investments in sports team ownership.

In 2014, he and Marc Lasry acquired the NBA franchise the Milwaukee Bucks for $550 million.

They pledged to retain the team in Wisconsin and construct a new arena.

The Fiserv Forum, the new arena, opened in the summer of 2018.

Edens later witnessed the Bucks clinch the 2021 NBA championship.

Additionally, Edens co-owns the association football holding company V Sports with fellow billionaire Nassef Sawiris.

V Sports owns the English Premier League team Aston Villa and has a substantial stake in the Portuguese Primeira Liga team Vitória S.C.

Edens ventured into esports in 2016 by acquiring the professional “League of Legends” team FlyQuest from the esports company Cloud9.

The team began competing in the North American League Championship Series the following year.

FlyQuest players included Hai Lam, Johnny Ru, and An Le.

The FlyQuest brand emphasizes environmental awareness through its jersey designs and ikebana displays at competitions, planting 100 trees every time it wins a game.

In 2022, Edens sold the team to the Viola family, owners of the NHL franchise the Florida Panthers.

Wes Edens Net Worth: Personal Life

In his personal life, Edens and his wife Lynn have four children.

Their youngest child, Mallory, represented the Milwaukee Bucks in the 2014 NBA draft lottery.

Mallory Edens has been rumored to have a romantic relationship with Aaron Rodgers.

Edens is the creator and proprietor of Caldera House, an eight-room boutique hotel and private ski club situated in Jackson Hole, Wyoming.

Wes Edens Net Worth: Real Estate

In October 2020, Wes Edens acquired a $20 million apartment in New York City.

The 7,000 square-foot condo, previously listed for $50 million, features a private 2,000 square-foot rooftop terrace.

From 1993 to 2017, he possessed an apartment overlooking Central Park West.

He sold to Bruce Willis in 2017 for $17 million.

 

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