Randal Nardone can be described in one word: self-made.
Being a self-made is very impressive. It is impressive if one becomes a self-made millionaire, but it is even more impressive when one becomes a self-made billionaire. Most people think that to obtain a great fortune, you have to attend college. Although this is true for someone, it isn’t true for everyone, and it certainly wasn’t true for Randal Nardone.
Sure, Nardone attended college.
He graduated from the University of Connecticut with a Bachelors Degree in Science, but that isn’t where his road to becoming a billionaire begins. Science didn’t make Nardone wealthy; investing did. Nardone has 53 million shares that are worth a whopping $1.8 billion. He has been in investments most of his life and isn’t showing any signs of leaving the business any time soon. Randal Nardone believes so heavily in investing that he and two colleagues started their own investing firm, Fortress Investment Group.
The three gentlemen, Nardone, Wes Edens, and Rob Kauffman started their business with prior knowledge of the the investing world. This is because each of the men had previously worked for other big name companies, such as USB and Lehman Brothers. The men worked passionately on their company, and it grew very quickly. Within the first five years, the three men had multiplied their $400 million investment nearly 10 times!
This was quite impressive for a start-up company.
Nardone, Edens, and Kauffman’s profits continued to multiply in the years going forward. However, what is the one reason that many people invest? To have the funds that will allow them to live the lives of their dreams. Kauffman kept this in mind, and when the time was nearing for him to step down as co-founder of Fortress Investment Group, he announced his retirement and was replaced by Peter Briger.
Kauffman is now living out his dream of driving race cars.
He has even invested money into a few racing teams, including his own. Randal Nardone, Wes Edens, and Peter Briger remember why the company was started, however: to introduce to the world an alternative investment strategy. With this in mind, the three continue to go strong with Fortress Investment Group and continue to take the company to new heights.
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