Randal Nardone, who is currently ranked 557th on the 2007 edition of Forbes list of billionaires, is the chief executive officer for the Fortress Investment Group LLC – an investment management company which he co-founded with Wesley R. Edens and Rob Kauffman. Prior to co-founding Fortress, Randal Nardone worked as a partner to a legal firm named Thacher Proffitt and Wood before gaining an interest and a passion for the financial services industry.
After gaining an interest in the financial services industry Randal Nardone went on to work for BlackRock Financial Management where he was principal. In May of 1997, he then went on to work as the managing director of UBS before co-founding Fortress in 1998. When Fortress was among the first of its kind to go public in 2007 it launched Randal Nardone to billionaire status.
In terms of education, Randal Nardone received his Bachelor’s of the Arts in Biology and English from the University of Connecticut. Nardone has also received his Juris Doctor degree from the University of Boston. Despite not having anything to do with his education Nardone has proven himself to be very capable in the financial services industry and is among one of the most respected people in the industry. In 2017 Japanese telecommunications and internet company SoftBank purchased Fortress for an astounding 3.3 billion dollars. This was seen as an unusual move by SoftBank as most of their previous investments were in technology companies. However, SoftBank made the decision to purchase Fortress in hopes that the financial management expertise would help SoftBank to boost their SoftBank Vision Fund, an at-the-time theoretical 100 million dollar investment fund and more
The purchase of Fortress was also hoped to help SoftBank expand its area of expertise and generally have the financial service company as a diversification not only of investment type but also of the skillset that SoftBank would gain from purchasing the company. In response to the purchase of his company Nardone was hopeful and thought that it would help Fortress to grow in the future, citing that the move had reinvigorated investor interest in the company.