Billionaire CEO Randal Nardone Is #557 On Forbes List

Randal A. Nardone is co-founder, principal, and director of Fortress Investment Group LLC. He also holds the position as Chief Executive Officer of the firm. The main offices of the company are in New York City. Fortress is one of the leading investment management firm, and they were recently purchased by a technology company based in Japan.

Fortress Investment Group was launched in 1998 by Mr. Nardone, Mr. Wes Edens, and Mr. Robert Kauffman. Randal Nardone has been a member of the board since 2006. SoftBank Group, a Japanese tech company, bought the alternative asset management firm in 2017. Fortress Investment Group LLC was sold for the sum of $3.3 billion. The company is public, and shareholders of the firm were approved to receive $8.08 per share, a 39% increase over the stock’s actual price at the time. As a result of the purchase of Fortress by SoftBank Group, the price of the stock went up by 6% on the day.

Randal Nardone attended law school, and he spent several years working in large law firm upon completion of his studies. He graduated with a degree in English and Biology from the University of Connecticut. Randal then went on to the Boston University School of Law to achieve his J.D.

Randal Nardone pursued his career in law as a partner and as an executive committee member in law firm of Thacher Proffitt & Wood. He soon after became determined to re-direct his career towards the financial sector. He served at BlackRock Financial for many years. Randal Nardone then joined UBS, where he was to become a managing director at financial institution. He remained in their employ from May of 1997 until May of 1998, at which time Fortress Investment Group was started. He has been on the Forbes list of billionaires since 2007. He currently is ranked as #557 on the list.

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