Wes Edens – The King of Subprime Lending

Wesley Robert Edens started working in the finance sector right after college. He first took a position with California Savings and Loan and then followed with jobs at Merrily Lynch and Smith and Barney. In 1987 he joined Lehman Brothers and served as managing director until 1993 when he moved to Blackrock Financial Management. In his long financial career he has completed a variety of projects including the establishment of the Fortress Investment Group in 1998 and acquiring the Milwaukee Bucks in 2014. In 2017 he launced an esports team called Flyquest. Every year we seem to hear new things about Wesley, so lets take a bit of a closer look at his accomplishments. Wes Edens lives with his wife Linda and four children, and when he’s not making a fortune, he can be found scaling mountains. He has a keen interest in mountain climbing which started at a very young age.

In recent years he has conquered the Grand Teton in Wyoming and the Matterhorn in Switzerland. He goes a little easier on the mountaineering these days as he slipped into a fall when he was on Pingora Peak in Wyoming. In 2009, he won an award as Distinguished Business Professional, given to him by the university he graduated from, Oregon State University. The award is for those business people who demonstrate they use innovation and excellence in their business industry. Edens is also a notable philanthropist and takes an active role with social causes. He has donated millions to charitable foundations and educational institutions throughout the USA. Today Wes Edens is the proud co-owner of the Milwaukee Bucks. It was a deal that worked out to about $550 million in 2014. He is a lifelong basketball fan, and as such has guaranteed that the team will continue to play in Milwaukee and has even pledged another $100 million to go towards the construction of a new arena.

Wes Edens is currently one of America’s billionaires, a status he acquired in 2007, after a company called Fortress Investment Group (he co-founded) went public. In 2007 Fortress expanded into hedge funds, real estate investments and debt securities which increased his already large holdings. By the time the company went public on the NYSE, it was the largest private equity firm in the USA. His interests have continued to grow and in 2010, Wes Edens acquired a large percentage of Springleaf Financial Services a subprime lender. The deal was about $125 million and within a few years the company grew to $3.5 billion. Eden has been successful in a number of financial buyouts and finance company growths. It has led him to be called the “king” of subprime lending.