The Milwaukee Bucks may have been eliminated from the finals of the Eastern Conference, but the team has come a very long way since their 2014 season in which they placed dead last. It was this year that co-CEO and co-founder of Fortress Investment Group, Wes Edens, purchased part of the basketball team. As a co-owner, he has helped lead the team to much better seasons and things are just expected to get better as the years go on. The team was purchased by Wes Edens and Marc Lasry together for $550 million. Part of the deal included the promise that the facilities for the basketball franchise would see improvements. In the last five years, the value of the Milwaukee Bucks has increased to $1.35 billion.
While Wes Edens may be a big name in sports team ownership now, he is not the only one in the family that is interested in these type of business opportunities. His daughter Mallory represented the New York Knicks during the 2014 NBA Lottery and is a graduate of Princeton. She is very open about wanting to own her own NBA team and according to TMZ Sports, he is very interested in one day owning the Knicks in particular. She stated that after she buys the team, she would be seeing her father during the Eastern Conference Finals. While the chances of her being able to purchase the team are rather slim, she still hopes to be able to increase the representation of women in sports.
Currently, Wes Edens is estimated to be worth around $1.65 billion and he has obtained this wealth in many different ways. While his work with Fortress from personal investments that he has made over the years including owning sports teams. The investment techniques that Wes Edens follow may be unusual to many, but his high net worth makes it clear that they have been working for him over the years. He is a graduate of Oregon State who studied Finance and Business Administration in which he earned a degree in 1984.