For someone who took double degrees in English and Biology in college, Randal Nardone took a different turn when he ended up in a top position at an investments giant and eventually winding up in the list of Forbes Billionaires.
At only 52 yearsold, Randal Nardone has already made significant accomplishments at Fortress Investment Group. Despite having a jurisprudence doctorate degree, he found himself more interested in management of assets than dealing with litigations.
Nardone was still in the law practice when he decided to pick up new tricks of the trade that enabled him to combine law and finances. His illustrious professional journey started with being a partner at Thacher Proffitt & Wood. He then moved on to the BlackRock group where he became a Principal and eventually at UBS as a Managing Director. This all happened before he and his friend West Edens decided to put up Fortress Investment Group in 1998 where would end up holding various positions over the years.
NYSE recognizes Fortress Investment Group as one of the most remarkable investment players. Companies would opt to get their services because of the excellent portfolio that Randal Nardone has helped put together. While taking on various roles within Fortress Investment and its subsets, Nardone also holds the Chairmanship and President posts at Springleaf Financial Holdings. His list of duties also finds him at Newcastle Investment Holdings as Secretary as well as Vice President . These would coincide with his other participation in Fortress Registered Investment as principal and also Chief Executive.
Currently, Randal Nardone’s designation is CEO at the Fortress Investment Group. His title was kept even after SoftBank Group purchased Fortress Investment. Nardone believes that this acquisition would most definitely help strengthen his firm. He is quite optimistic that the company would grow far quicker in the future and would gain to better sources of credit. In fact, the executives at Fortress Investment made $1.39 billion following the acquisition made by SoftBank. The said amount was split amongst the shareholders based on the size of their ownership. Nardone’s group is believed to have assets worth $69.6 billion. Softbank on the otherhand has a portfolio of global companies which will undoubtedly be beneficial to the Fortress Investment Group.
It surely does not come as a surprise that Randal Nardone would end up in the list of Billionaires compiled by Forbes Magazine. At number 557, he is easily a shoe-in because of his experience and his vast knowledge in financial investments.