Chris Holden

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How Much Is Wes Edens Worth?

by Chris Holden - February 25th, 2019.
Filed under: Business Leader, Entrepreneur.

Born to a psychologist father, Wes Edens grew up on a ranch in Montana. The holder of a degree in finance and business administration began working in a bank upon his graduation at Oregon State University. In the early 1990s, Edens entered Wall Street through Lehman Brothers. He would later move to Black Rock and became partner and MD. Edens founded New Fortress Energy in 2014 – a company responsible for building clean energy infrastructure projects in the United States as well as developing countries.

The 57-year old also co-founded Fortress Investment Group in 1998. Initially a private equity fund, the Group now focuses on investing in massive infrastructure projects such as the £2.5 billion project in Florida for constructing a private passenger railroad. Fortress Investment Group was among the very first private equity funds to go public in 2007. Softbank purchased the firm at £3 billion in December 2017. Find out more about Wes Edens at wealthx.com

In a recent article published in Birmingham Live, Wes Eden was named as the 5th wealthiest man in the West Midlands in the 2019’s Birmingham Post Rich List. The Birmingham Post reports the 50 wealthiest people in the region annually.

In spite of being an investment banker, Wes Edens is knowledgeable about sports management and is a co-owner of Milwaukee Bucks– a US basketball team. Recently, he partly financed a new stadium for the Bucks worth £400 million and hopes to win silver with a team. Edens has similar ambitions for Aston Villa.

The Aston Villa co-chairman’s £1.9 billion fortune gave him the opportunity to appear four ranks below Nassef Sawiris, his fellow Aston Villa stakeholder, whose wealth stands at £5.2 billion, making him Birmingham’s richest person ever.

Wes Edens, and Sawiris each purchased 27.5% stake in Villa in 2018 and this explains why he serves as the executive chairman of the club. Their entrance into the club gave them the opportunity to take majority control from Tony Xia, the previous owner, who now serves as a co-chairman. The arrival of the two also saved Aston Villa from entering administration. It made it possible for the club to retain its crucial player Jack Grealish. Other changes that Wes Edens and Sawiris include the appointment of Christian Purslow as Chief executive officer, Dean Smith (a lifelong Aston Villa fan) as manager and also invested a further £11 million to cater for summer transfer windows.

Read more: https://en.wikipedia.org/wiki/Wes_Edens

 

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