Wes Edens Is Moving On To Infrastructure Focused Investments

About Wesley Edens

Wes Edens studied finance and business administration at Oregon State University. He finished school in 1984 and started working at a small bank when one of his peers working at Merrill Lynch convinced him to try Wall Street. Wes Edens Packed up and moved to New York where he started working at Lehman Brothers. He moved on to BlackRock in 1993. At BlackRock he was a managing director and partner. He got together with a few colleagues and they decided to start Fortress. See more information about Wes Edens at wealthx.com

Going Public

In 2007 Fortress went public, but the following year’s financial crisis made the company suffer. Wes Edens says after the major losses in 2008, he worked every single day except for four Sundays. The company had several financial assets that took a hit when the global markets went down. The stock price dropped to less than $1 per share. A couple years later Wes Edens took a risk on Springleaf Holdings, Inc. He purchased a large stake in the subprime lender for $124 million. Within five years, the lender’s value had reached $3.5 billion. Lately, Edens has been focused more on creating companies and infrastructure instead of just investments. He felt they made a great decision by focusing on lower priced investment opportunities, but he needed more out of his career.

New Business

In 2014 Wes Edens started a separate company called Fortress Energy. This energy company services developing counties and the U.S. with clean energy infrastructure. One of the key influencers of Wes Edens’ career shift was Henry Flagler. He was a founder of an oil company who began creating hotels and railways in Florida. Edens’ idea of a railroad project was partially inspired by Henry Flagler. Wes Edens’ new railway is called Brightline and it started servicing Fort Lauderdale and West Palm Beach in January. It later started servicing Miami in May. The train’s route includes 12 trips per stop on a daily basis and plans to increase the stops to 16. Ticket prices are starting at $10. There are already plans for the train’s operations to extend to Orlando later in the year. The next station to be added to the list will be Tampa. Know more: https://www.fortress.com/about

 

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