Randal Nardone is a self made billionaire who slowly rose through ranks to become number 557 in the list of world’s billionaires. According to Forbes, his net worth currently stands at $1.8 billion.
Nardone joined Fortress Investment Group in 1998 as co-founder and principal. In 2013, he became the Chief Executive Officer after serving in interim position for two years. His wealth has often been attributed to the stake he has in the company. Additionally, Randal Nardone is said to have been compensated over $100,000,000 in cash, making him one of the richest men, not just in America, but the whole world.
Under his leadership, the Fortress Investment Group was said to be managing more than $70 billion is assets that are split among credit funds, liquid hedge funds and private equity.
Four years ago, Institutional Investor, a reputable international business publisher named Fortress as Hedge fund manager of the year. This was when Nardone was in charge. His company has also been recognized as Management Firm of the year. He has gotten accolades on his guidance in management of credit funds.
Randal Nardone previously worked as Managing Director of Union Bank of Switzerland (UBS). Before that, he was a principal at BlackRock Financial Management.
Even though he seems to prefer the field of finance, Nardone did not train in it. He has an undergraduate degree in science from the University of Connecticut , and a Juris Doctor (J.D) from Boston University.
His success has often been linked with his ability to network with investors and research to know what will work best for his company. He also uses technology and social media to help drive the agenda of Fortress across the globe. Due to his successful career, business schools have always used his company as a model of management and growth of a company. Randal Nardone is married, but keeps his private life private. Meet Fortress Investment Group’s Ex-Billionaire Interim CEO