Wes Edens is one of three high-stake owners of the recently crowned NBA Champion Milwaukee Bucks. The Milwaukee Bucks, down two games to none versus the Phoenix Suns, swept the next for games to have a historic win. It was the team’s first championship in 50 years.
Valued currently by Forbes at $1.8 billion, Wes Edens and the two other significant stakes owners, Marc Lasry and James Dinan, bought the Milwaukee Bucks in 2014 for $550 million. The teams’ previous owner was Kohl, the founder of Kohl’s department store. Kohl initially bought the Bucks for $18 million in 1985.
The Three Chief Bucks Owners:
Wes Edens is currently the Chairman of Fortress Investment Group, which he also founded in 1998. According to Forbes, Wes Edens became a Billionaire when Fortress Investment Group went public in 2007, with a net worth of $1.2 billion.
The Milwaukee Bucks are very involved in social justice, thanks in part to owner Marc Lasry. Lasry created Avenue Capital group with his sister in 1995 and is currently the CEO. Lasry, a billionaire, is very involved in politics and a big supporter of civil rights and the democratic party. Born in Morocco, Lasry immigrated to the U.S. with his relatives when he was seven years old.
James Dinan created York Capital Management in 1991 and is presently the company’s Chairman and CEO. His net worth exceeds $1 billion; Dinan received his M.B.A. from Harvard Business School before launching his highly successful money management firm.
Mike Fascietlli is the fourth co-owner, albeit with a lesser share of ownership. Currently, the Cadre Investment Committee chairman, Mr. Fascitelli has a net worth of more than $71 million. Mike was initially part of the Goldman Sachs Real Estate Department after graduating with an M.B.A. from Harvard Graduate School of Business Administration.