Randal Nardone is a self-made billionaire, business tycoon and the co-founder of Fortress Investment Group. He currently ranks number 557 on Forbes’ list of the World’s Top Billionaires. There is a lot of say about Randal Nardone as much of his wealth came from his dedication, the pursuit of his passion and great leadership skills.
He is known as the Lawyer who became a businessman. He started working for Tacher Proffitt & Wood, and then went to work for BlackRock Financial and UBS. In 1998, he founded the Fortress Investment Group, of which he now serves as a Chief Operating Officer. Randal Nardone oversees the structure of finance and legal matters within the company. Through a public offering along with several personalities such as Peter Briger, Michael Novogratz, and Robert Kauffman, he was able to gain 53 million shares which are worth $1.6 billion.
The group was able to sell the minority of the interest to a Japanese firm called Nomura for $890 million in December of 2017, and Randal Nardone was able to accumulate another $100 million in payouts from 2005 until present.
Randal Nardone’s Background Experience
The self-made billionaire has proven his expertise in the financial and legal field. Several years before being a co-founder of Fortress Investment Group, he is also a trusted personality in many firms all over the country.
Some of his previous roles included: being the president and chairman of Springleaf Financial Holdings, LLC. Additionally, he also became the vice president and secretary of Newcastle Investment Holdings, LLC. Aside from handling many leadership roles, he also became the portfolio manager and secretary of RIC Coinvestment Fund, LP. He managed to maintain these previous roles and also became a secretary of the Newcastle Investment group from 2002 until he became the vice president of the same company in 2016. He also held administrative positions in companies such as UBS and IMPAC Commercial Holdings.
The Purchase of Fortress
SoftBank Group Corp. has announced that they are able to complete the acquisition of Fortress Investment Group for $3.3 billion. During the closing of transactions, all conditions were met and Fortress shareholders were satisfied with the decision since July 2017.
Randal Nardone along with his administrative colleagues in Fortress Investment Group will continue to lead during this transition period. Their company will still be based in New York, and he claims that this is a great decision for their company to be under the mergers and acquisitions agreement from SBG. He believes that the decision is vital for the company’s growth towards globalization and future success.
To know more visit @: www.fortress.com/about