Introduction to Wes Edens
The owner of the Milwaukee Bucks is hedge-fund investor Wes Edens, who works at Fortress Investment Group. In the prior three decades, Edens was able to acquire a net worth of 1.65 billion. He bought the team is 2014 after they finished the previous season with a 15-67 record and were in the last place in the Eastern Conference. He has taken the team a long way following the purchase. About five years throughout the post-season, Edens has had a franchise that is the number one seed and with home court advantage.
There are some interesting facts about Wes Edens that will get discussed below. First, he began his work life in 1987 where he worked for the Lehman Brothers and did work in investing. Here he served a role as Partner and Managing Director. He began working for the company in April 1987 and ended in October 1993. On October 19, 1987, when the Black Monday crash occurred Edens would further the firm. That would happen until Richard Fuld the CEO, would do the transition from American Express into Lehman Brothers Holdings, Inc.
In 2014 when Wes Edens had bought the team, he did in with Marc Lasry for $550 million. In addition to owning the team, he also owns Ashton Villa which is the English Premier League club. Even though Edens bought a Wisconsin team, he is not close to that area. He was born in the state of Montana. Finally, it was written by the Milwaukee Business Journal that in the previous five years they had the fourth highest increase in their value.
In 2016 it was reported by the Milwaukee Business Journal that Wes Edens had a “take-home pay” worth $54 million. Included in that figure are his total annual compensation and the dividends he earned being a stockholder. Also, he holds 63.3 million shares of the stock of Fortress that was of the most recent proxy statement. That such statement was filed back in April.
Check more about Wes Edens: https://www.nytimes.com/2019/05/24/sports/milwaukee-bucks-aston-villa-wes-edens.html