Randal Nardone is first on the Forbes Billionaire list. He Co-founded Fortress Investment Group, LLC in 1988. Randal Nardone has been the principal since its founding in 1988 and the Chief Executive Officer since August of 2013. He was educated at the University of Connecticut where he received a B. A. in English and Biology and a J. D. from Boston University of Law. Randal Nardone worked in various leadership positions before co-founding Fortress. He was partner and executive member at the Thacher Proffitt & Wood law firm. In 1997 he would serve as principal of BlackRock Financial Management, Inc. From May 1997 to May 1988 he was managing director of UBS.
Randal Nardone serves several companies in various capacities. To name a few he serves as Vice President and Secretary of Newcastle Investment Holdings, LLC, President and Chairman of Springleaf Financial Holdings, LLC, President of Ncs 1 LLC, Co-Founder of Fortress Investment Fund IV, L.P. and Fortress Investment Fund V, L.P. and serves as its Chief Executive Officer, Principal and Chief Operating Officer.
Ever the risk taker, Randal Nardone was responsible for the acquisition of AIG’s American General Financial Services. AIG would change its name to Springleaf Financial Holdings, LLC and Nardone’s move to acquire it would prove to be good one. The value of the company rose more than twenty-seven times its original value. Nardone would make another bold move when he decided to register Fortress Investment Group in the public stock market. The fruits of this move would increase investors and clients to the firm. Randal Nardone proposed an initiative for SoftBank Group a multinational company from Japan to acquire Fortress Investment Group. The acquisition would be completed in December 2017. Nardone, a visionary, saw the benefit of Fortress being acquired by SoftBank. Fortress could leverage the huge clientele of SoftBank to their investment strategies.
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