51 year old “Randy” Randal Nardone finally achieved a spot on the Forbes list as the 557th richest man in the world after his investment firm called Fortress Investments, co-founded in the 1990s, was acquired by Japanese firm SoftBank in a 3.3 billion dollar deal. As a co-founder of Fortress, Randal Nardone on 53 million shares when the company went public as the first private wealth investment firm to be listed on a public Stock Exchange in 2007. The net profit of the sale of his shares in 2017 amounted to 1.6 billion dollars, making up the majority of his wealth and position on the Forbes list.
Randal Nardone achieved his Bachelors of Arts in Biology and English from the University of Connecticut, and later achieved his Juris Doctorate from Boston University. Upon receiving his education, Randy went on to serve as a board of director on many companies boards prior to listing Fortress on the stock market and gaining the company over $600 million in new assets. Some of these companies include the likes of doBank, Alea Group Holdings Bermuda, EuroCastle Investments, Newcastle investment, RIC Coinvestment, OneMain, Aircastle, SeaCube Leasing, GAGFAH, Brookdale Senior Living, Florida East Coast Holdings, Springleaf, UBS, and BlackRock Financial Group.
After all of his experience serving on the boards have different companies, Randal Nardone was appointed the CEO of Fortress in a temporary role between 2011 and 2013.The SoftBank acquisition was a somewhat small one for them (though a great deal for Fortress). SoftBank has acquired other companies for almost ten times the amount at which Fortress was acquired for: ARM Holdings PLC, a microchip processing company, was acquired for 32 billion dollars. Also, Sprint mobile phones was acquired by SoftBank in 2013 for billions as well. Fortress Investments currently holds over 70 billion dollars in assets as of 2017 estimates. Learn More.