Randal Nardone is one of the Co-founders of Fortress Investment Group along with Peter Briger and Wesley Edens. The company was founded in 1998. Since then, Randal has been the principal of the investment company. Before its establishment, Nardone was a member of executive committee for Thacher Proffitt & Wood before being elected MD for UBS, a multinational investment bank for one year and also a principal at BlackRock for two years. Since 2013, he has been the Chief Executive Officer. Apart from being the current CEO, Randal Nardone serves as a board member for Eurocastle Investment, Springleaf Financial Services, and Brookdale Senior Living. He is also the VP of Newcastle Investment.
Randal Nardone is an alumnus of Boston University School of Law and the University of Connecticut where he graduated with a doctor of jurisprudence and a BA in English and biology respectively. He considers himself a self-made billionaire through his hard work and experience. In fact, Forbes ranked him at number 557 on the billionaire list in the year 2007.Softbank Group Corp. completed its acquisition of Fortress Investment Group in December 2017. There was a formal approval by the shareholders in July 2017. The acquisition is reported to have cost Softbank around $3.3 billion. To this effect, Softbank was to acquire all class A shares of stock. On the other hand, Fortress would continue operating without interference and also retain its executive leadership, brand, and culture.
Besides, the company was to continue its operation in New York. To Randal, the acquisition would open up opportunities to try new ideas and hence more opportunities for them.Focusing on the views given by previous employees at Fortress, it is statistically evident that most of them enjoyed working at the company. In fact, the executive leadership received high marks, especially Nardone. Fortress Investment Group received a 3.5 rating over 5. 69% of the workers would recommend the company to their friends. Besides, 92% approved for Randal Nardone as the CEO. On the hand, they confessed that the company had loads of work.In 2016, the company was reportedly managing assets of worth $70 billion.