Being #1 is not easy to accomplish. Billionaire Randal Nardone achieved this notable quality after co-founding the Fortress Investment Group. What is Billionaire Randal Nardone’s place on the Forbes list?
Forbes Billionaire Randal Nardone
Being the first is a nice position to have. The Fortress Investment Group was the first large hedge fund to go public on February 9, 2007. In 2016, the Fortress Investment Group managed about $70.2 billion in assets.
Corporate stocks were hot and this firm allowed for public investors to get in on the ground floor. Computer algorithms and experienced fund managers have been able to earn very healthy returns from investments. The overall financial industry has become more advanced and developed.
Over time, financial institutions have accounted for a larger portion of the United States’ wealth. In the 1900s, the top industries might have been railroad, coal, steel and oil. In the 2010s, the top firms were banks, insurance companies and financial institutions. Co-Founder Randal Nardone was on top of a tidal wave of success.
Fortress Investment Group Founder Nardone
Due to its innovation, the Fortress Investment Group made its founders very wealthy. This included Randal Nardone who was ranked 557 on “The World’s Billionaires” list for 2007. Now, Mr. Nardone was one of the chief leaders of the world’s financial industry. Randal Nardone has a distinguished resume.
Before 1997, Mr. Nardone was a member of the executive committee for the Thacher Proffitt & Wood law firm. He was a UBS managing director from May 1997 to May 1998. He also holds many executive positions at companies such as Brookdale Senior Living, Alea Group Holding and Eurocastle Investment Limited.
Business executive Randal Nardone has been on the cutting-edge of the financial industry for decades. He has established a more efficient allocation of capital to important developments around the world. When capital flows quickly and efficiently, the sky is the limit for global developments.
Learn More: www.fortress.com/about