Randal Nardone is number 557 on Forbes Richest List. Well-educated, Mr. Nardone received bachelor’s degrees in both English and Biology. He earned a JD degree from Boston University School of Law. He was born on June 22, 1955. Nardone is a self-made billionaire.
Randal Nardone is the Principal and co-founder of Fortress Investments Group that was established on January 1, 1998. Before he founded Fortress, Nardone was a principal and partner at UBS from May 1997 to May 1998. Fortress Investments is based in New York, N.Y. Fortress has between 500 to 1,000 employees. In 2013, Nardone became CEO of Fortress. Nardone teamed up with several of his friends and co-workers from past businesses to collectively start Fortress Investment Group.
SoftBank, a Japanese conglomerate, had bought Fortress Investments Group in April. Masayoshi Son had purchased Fortress for $3.3 billion in cash. Randal Nardone believes that selling Fortress was the right thing to do because private equities investments were becoming slow. Fortress will continue to operate independently. SoftBank, a technology company, would put life back into Fortress. Nardone believes the sale was a cautionary method to save the company. SoftBank decided to pay $8.08 a share to accelerate Fortress Investments Group in the stock market. SoftBank might own Fortress, but everything is going to stay the same. Nardone is still going to run the business in New York city.
Randal Nardone serves on many boards. For seven years, Nardone served on the Alea Group Holdings. While serving in Alea, GAGFA S.A and Brookdale Senior Living. Nardone is director of Eurocastle Investments that focuses on the financial investments in Italy. In the states, Mr. Nardone handles legal matters, hedge funds, credit issues, and real estate. Randal Nardone lives in New York city with his wife. They are the parents of one child. Fortress Three Top Executives Split $44 Million Bonuses In 2015