Randal Nardone is a renowned attorney who shifted his career to finance. After starting his career in finance at Thacher Profit and Wood, he climbed up the ladder of ranks at BlackRock Financial and then went to Union Bank of Switzerland. Serving in full capacity for one of the leading Swiss financial institutions in the globe might appear like a patronizing target for the majority of people. However, Randal has another perspective since he felt like this was not enough for him. In this regard, he decided to establish his own company called Fortress Investment Group in 1998, and since that period, the company has been experiencing tremendous growth.
Note that it is because of this latest progress that has made Randal Nardone get a sought-after position on the Forbes billionaire list. Having the net worth of $1.8 billion, Randel ranks at number 557 in the billionaire list, and all his wealth is self-made. His incredible wealth is completely tangled to his stake in Fortress Investment group. On top of this, he has received more than $100 million in other cash reimbursements.
Currently, Randal Nardone continues to serve as the president of Fortress Investment Group, as his comeback to the business in 2011 was fitting, bearing in mind the role he played when the company was launched. According to the report released on June 30, 2016, was firm was managing over $70 million in alternative properties. These properties are segmented into various divisions such as private equity, liquid hedge funds, and credit funds.
Away from the noticeable financial accomplishments of Randal Nardone, there is also a wealth of other accomplishments. For instance, in 2014, the company received two awards, one from Institutional Investors known as Hedge Fund Manager of the Year and the other one was Management Firm of the Year awarded by the HEMWeek. In addition to that, the firm has been acknowledged and applauded by Institutional stockholders as the Discretionary Macro-Focused Hedge Fund of the Year.
All this has been achieved together with the firm’s latest progress, which is the purchase by SoftBank Group. Softbank agreed to purchase the firm for $3.3 billion on February 14, 2017, and the deal was finalized at the end of that year. Meet Fortress Investment Group’s Ex-Billionaire Interim CEO