Randal Nardone Storied Career From English Major to Billionaire
Can getting a college degree in English lead to a career that will make you a billionaire? It can if your name is Randal Nardone. He began his journey at the University of Connecticut where he completed a bachelor’s degree with a double major in English and biology.
Randal Nardone went on the law school. He earned his Juris Doctorate at Boston University School of Law. He then accepted a position with one of the oldest and most venerable law firms in New York, Thacher Proffitt & Wood. He did well there and made partner as well as serving on the firm’s executive committee. More about of Randal Nardone at bu.edu
But Randal Nardone felt he had more to offer the world. He developed a keen interest in finance and decided to extend his career into that realm. He took a position with BlackRock Financial Management, the world’s largest asset management company. He worked his way up to become a principle with that organization.
He then moved on to work for another major entity, UBS. He was managing director of UBS from May 1997 to May 1998. His experience with two top-flight financial firms convinced Randal Nordone he was ready to take the next major leap forward in his already successful career. He was ready to launch his own private equity firm.
In 1998, Randal Nardone co-founded Fortress Investment Group along with Wesley R. Eden and Rob Kauffman. It was an attempt to create an innovative, new kind of investment operation. It would employ an “alternative-asset” strategy to leverage private equity into backing cutting-edge vehicles.
Fortress hit the ground running. In less than 10 years it was ready to go public. The company launched on the NYSE in February of 2007. It was the largest private equity firm in the United States to be traded publicly. As of 2017, Fortress was managing some $70 billion in assets. That includes private equity, hedge funds and credit funds.
It made Randal Nardone a very rich man. His net worth is an estimated $1.8 billion. He is listed at No. 557 on the Forbes tally of richest Americans. He currently serves as CEO of Fortress Investment Group. Read More: https://www.newresi.com/about/leadership/executive-management/randal-a-nardone