Wes Edens has a history of making the right bets at the right moments. While most know him best as the owner of the NBA’s Milwaukee Bucks, his path to success is a rather interesting one. Edens graduated from Oregon State University in 1984 and it did not take long for him to rise through the Lehman Brothers ranks from there.After becoming a managing director for the company, Edens left to pursue his next challenge. The private equity division at BlackRock needed his assistance and he would soon build BlackRock Asset Investors into a more formidable group.He became a managing director and a partner at this firm and would remain there until 1997. At this time, Wes Edens came together with the four other principal partners that are responsible for the creation of Fortress Investment Group.
Edens made an immediate name for himself with a unique investment style that focused on locating creative forms of financing and making bets that were not considered to be sure things. These contrarian methods allowed the company to go against the grain and provided Edens with the opportunity to take home $54 million per year, according to BizJournals. He would soon become the co-chairman of the company’s board of directors and remained in this post as he saw the company through the subprime mortgage lending crisis. By offering subprime lending, Fortress Investment Group was able to bounce back. Wes Edens and partner Marc Lasry purchased the NBA’s Milwaukee Bucks for $550 million and nearly doubled the franchise’s valuation within a few years
. Edens is now investing in e-sports and has created a League of Legends team (in addition to a league for the team to exist within). The venture is known as FlyQuest and Edens is making a name for himself in the world of e-sports in other ways as well. The NBA has recently decided to embrace the world of console gaming in an effort to attract a younger fan base. The league’s NBA 2K venture now allows for professional console gamers to compete against one another for cash prizes. Wes Edens is one of the first NBA owners to publicly voice support for the league and he anticipates a great deal for the Milwaukee Bucks chapter. Thanks to Edens’ track record of knowing when to invest and how to invest, observers anticipate a great deal of success for these ventures in the years to come. His forward thinking is the type of asset no one can put a price on.