At age 51, Randal (Randy) Nardone has reached the Forbes list at rank number 557. Since 2005 alone, the man has personally earned over $100 million. Randal Nardone is the ex CEO of Fortress Investment Group, which was just acquired by Japan’s SoftBank last year in a merger for 3.3 billion dollars. According to Forbes.com, in terms of his educational background, Randal got his BA in English and Bio from UConn, and his J.D. at Boston University. Co-founding Fortress in ‘98, he is now the COO. Fortress was actually the first hedge fund to publicly list themselves on the stock market, in a move which garnished $600 million to the company right near the biggest financial collapse in the history of the United States.
Randal has held many roles previously another financial institutions before Fortress, as a matter of fact: He was once a director at UBS during the late 90’s, and Also worked at BlackRock Financial for a period of time as well. Additionally, he also served as director of many organizations like Springleaf, OneMain, RIC Coinvestment, Newcastle Investment, Eurocastle Investments, Alea Group Holdings, and doBank. The Randal Nardone Bloomberg bio reveals that he was also the interim CEO of Fortress between 2011-2013, so he has held many roles over the years and continues to do so even into today at Fortress
The recent SoftBank acquisition of Randal Nardone’s Fortress Investments was actually a small purchase for SoftBank, amongst the sea of other companies which were bought up. Some of them include the likes of Sprint mobile phone carriers (2013), as well as U.K. microprocessing company ARM Holdings PLC, which was a 32 billion dollar purchase. Still, the Fortress Investment group which Randal Nardone founded will go down in history as one of the first companies to publicize wealth management which was historically reserved for the super rich.