Randal Nardone Makes History on the Forbes List of World’s Billionaires

One of Fortress Investment Group’s founders, Randal Nardone is one of the richest investors in the world which resulted in Forbes recognition. Since 1998, he’s built reputable positions as principle, president, vice president, director, chairman, chief operating officer, and chief executive officer. After 15 years serving as a principle for the Group, Randal accepted the executive role as CEO overseeing and managing assets for institutions and accredited investors. His profile on Bloomberg states he is a principle of subsidiaries including Fortress’s Credit Corporation, Investment Fund IV, Investment Fund V, and Registered Investment Trusts. Before joining one of the largest investing management firms worldwide, he served as managing director at UBS from 1997 to 1998.

Visit discoverorg.com

Randal Nardone made history in 2007 when he made the list of billionaires in the world by Forbes. He was number 557th on the Forbes List with a net worth of $1.8 billion which included 53 million shares worth over $1.5 billion. Before 2007, Randal and the other principles sold a minority interest to Nomura, an investment firm in Japan for $890 million. He earned $100 million in net cash payouts two years earlier. His decision to leave law and pursue a career in investing management is paying off enormously.

Towards the end of December 2017, SoftBank Group Corporation completed an acquisition transaction to purchase Fortress Investment Group. The company purchased the Group and its subsidiaries for $3.3 billion giving its principles including Randal Nardone authority to run the firm. He will co-lead the Fortress team with Wes Edens and Peter Briger and maintain the firm’s business model, brand, and cultural environment.

Randal Nardone and his partners oversee and manages approximately 1,700 plus clients worldwide for Fortress Investment Group. He became a billionaire through a strategic partnership with Robert Kauffman, Wesley Edens, Pete Briger, and Michael Novogratz. Before his success as a portfolio manager and investor, Randal attended Boston University and the University of Connecticut earning a J.D. and a bachelor’s degree in Biology and English. Today, he serves on the board of directors for Springleaf Finance, Springleaf REIT, and Florida East Coast Holdings Corporation.

Read more on https://www.crunchbase.com/person/randal-nardone

 

Leave a Reply

Your email address will not be published. Required fields are marked *