Education is a very important factor in one’s journey to access. However, going to universities and colleges and finishing a bachelor and even a master’s degree in business are not guarantees that one will also be successful in business. In fact, there are several successful businessmen, entrepreneurs, and leaders whose academic background are far or are not at all related to business. One of them is the co-founder of the largest private investment firm in the country, Randal Nardone.
Unlike other CEOs, Randal Nardone has a bachelor’s degree in Biology and in English from the University of Connecticut. He also holds a Doctor of Jurisprudence degree from School of Law of Boston University. Both of these academic backgrounds are not directly related to his stature as a leader in the financial investment industry.
Randal Nardone and his co-founders launched Fortress Investment Group in 1998. At the time, they want to build a firm that could help their clients grow and become profitable. Almost a decade after it was launched, Fortress Investment became the largest private equity firm trading publicly. The firm reached $70.2 billion assets worth of management investment ownership. Randal’s journey in the finance industry began when he joined Blackrock Financial Management Incorporated. He worked in the company as one of its principals.
In 1997, he served as the managing director of UBS AG. In 2011, Randal became the chief executive officer of Fortress Investment Group and one of its board of directors. In 2017, the private equity firm based in New York City was acquired by Softbank Group Corporation.
The acquisition opened more opportunities for the firm. Randal believes that through Japan’s banking giant, Fortress will have more chance to access bigger credit sources and will optimize with growth. The firm was acquired for $3.3 billion. Softbank, however, retained Randal on the firm’s management team.
Forbes included Randal Nardone to its list of billionaires. With around $1.8 billion in net worth, Randal claimed the 558th place of the billionaires’ list. In addition to managing Fortress Investment, Randal also served various executive roles in different private equity and investment firms.