Business success, Investment Expert

Wes Edens is the Co-Owner of the NBA’s Milwaukee Bucks

Posted by R93k5BB84

Wes Edens is the co-owner of the NBA’s Milwaukee Bucks and co-founder of Fortress Investment Group, both based in Milwaukee. He had made over $1.2 billion since he and his partner purchased the team for $18 million in 1994 when it was worth nothing. According to Yahoo Finance, they built it into a prosperous company with a value of about $600 million today.

Mr. Edens has a way of turning average people into very wealthy individuals.

Mr. Edens’s story started in 1962 when his mother took him to the Milwaukee County Zoo and told him, “If you want to be a millionaire, you have to go to school!” It led him to attend Catholic Memorial High School in Wauwatosa, Wisconsin. He also attended Marquette University for two years, majoring in economics.

Mr. Edens met Dave Checketts while at Marquette. Checketts would later buy the New England Patriots and is now executive chairman of Major League Soccer team New England Revolution along with Mr. Edens and longtime partner Mark Attanasio….

Mr. Edens got his start in the sports business industry in 1984 when he and Checketts founded the Milwaukee Bucks as an expansion franchise. The team has gone on to win two NBA titles, one in 1971 and one in 1985. Mr. Edens and Checketts purchased it for just $18 million….

Since 2003, Mr. Edens has been involved with the Cleveland Cavaliers, adding him to the team’s ownership group along with Dan Gilbert and Mr. Attanasio, a former owner of the Boston Red Sox….

In 2006 he became an investor in Fortress Investment Group, which rose to be a leading private equity firm before being purchased by Blackstone Group for $13 billion. According to Forbes Magazine, Edens currently owns a 15% stake in the company.

Mr. Edens is also involved with several other businesses and organizations, including Fortress Transportation and Infrastructure Investors, Rock Gaming LLC, and New York Wheel LLC.

…In 2010, he founded Edens Companies LP, an organization with over 1,600 employees nationwide. The company provides financing for apartment properties in 10 states through various subsidiaries: Lightstone Ventures Inc., Rockpoint Group LLC, and Greystar Real Estate Partners….

According to Forbes Magazine in Sept, Mr. Edens currently lives in New York but spends most of his time in Milwaukee, where his net worth of $2.7 billion makes him the 45th richest person in the state.