Randal Nardone is featured in position 557 in the list of billionaires. Nardone schooled in the University of Connecticut where he earned a Bachelor of Arts in English and Biology. He also attained a Doctorate Degree in Jurisprudence from Boston University. He is the co-founder of Fortress Investment Group which was launched in 1998. Randal Nardone also serves as the Chief Executive Officer (CEO) and Company Operating Officer (COO) of this company. Randal Nardone has been the Principal from 1998 and the Chief Executive Officer from 2013 of Fortress Investment Group. This company is famous for offering credit funds as well as management of the private-equity pools. Softbank purchased fortress Investment Group for 3.3 billion US Dollars due to their desire in six investment specialty pools of Fortress.
The six investment specialty pools put money in various industries ranging from digital marketing industries to mortgage services in conjunction with golf courses. Softbank has a feeling that it has the potential to double the assets of Fortress in the coming few years. The money that is under the management of Fortress Investment Group comes from the Middle East and Asia in the ration of 3 is to 7 respectively. As per the well-acquainted people, Mr. Son of the Softbank has a great network of billionaires and sovereign funds. Softbank is planning to assemble the former Wall Street group of salesman and traders who have connections to Abu Dhabi and Saudi Arabia.
Softbank gained a team for purchasing Fortress Investment Group. It has asset management in the back office. Mr. Son is planning to establish a company that just like Berkshire-Hathaway. Softbank was initially an internet and telecommunication company. With Randal Nardone as the Chief Executive Officer of Fortress, there has been experiencing tremendous growth. Softbank bought Fortress Investment Group for 8.08 US Dollars share as at February. The price has increased by 39 percent compared to the Fortress closing stock during its purchase. Mr. Son has a plan of maintaining the Fortress business structure with just a few changes. The Fortress Investment Group employees always feel that they are working with a smart and knowledgeable crew. Fortress has a highly promising trend that is likely to bear more returns in the future.
Randal Nardone has made an incredible contribution towards the development of Fortress Investment Group. He has vast managerial skills that he has implemented in the operation of this company.