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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Shervin Pishevar has come out of hiding to hit the world with 21 tweets in a day-long storm of messages. The founder of Sherpa Capital and early investor of Uber has some very negative things to say about the economy. And this comes after an abrupt resignation from his post atop Sherpa Capital.
He was forced to resign from Sherpa Capital due to sexual harassment allegations. He continues to say that these allegations are false. He explains that former enemies are out to get him and that he had to resign from Sherpa Capital in order to shield his favorite company from the fight.
The world has not heard from Shervin Pishevar ever since. Now he’s being hard to ignore as he spews dire warnings about the future of the economy.
His tweets see an economy that is about to permanently stagnate because underemployment and even unemployment will become ingrained in the system. He calls this underemployment “systemic” and it will have negative consequences on the stock market.
This tweet storm also predicts the crash of the stock market in the very near future. He believes the stock market will plummet an astounding 6,000 points to crash the entire economy. He points to the unpredictability coming out of the White House these days. Trump’s trade wars are only making investors skittish and it will end badly, according to Shervin Pishevar.
The former head of Sherpa Capital continued on his rant. He believes the upcoming trade wars will make it impossible for the bond market to carry the economy. It will slowly fail to rally along with the equities market so long as trade fluctuates. Essentially, it will not stabilize until the White House stabilizes.
He even aimed his tweets at Silicon Valley. He believes the community of tech companies is bound to fail because they have become complacent and have put limits on entrepreneurship. He believes the spirit that founded the valley has leaked out all over the world and is no longer set within geographical limits. That pioneering spirit is a movement and not a place, according to Shervin Pishevar.