Wes Edens is the American businessman behind one of the most ambitious projects in the country. The tycoon has been in business for more than $12 billion invested in the construction of the first private high-speed railway from the United States. It would travel from Las Vegas to Southern California at a speed of up to 320 kilometers per hour.
The billionaire hopes that its Brightline West bullet train Endens is expected to carry 11 million passengers a year. He also claims that his vehicle will cut travel times from Sin City to Los Angeles in half, from more than five hours to three or less. Endens also outlines the environmental benefits of his project, arguing that his railway will be entirely electric and that will reduce carbon dioxide production by 400 billion tons.
The businessman’s planning has been delayed for three years due to the conflicts caused by the Covid-19 pandemic. Even so, the American remains positive, He hopes to have his project completed before the 2028 Los Angeles Olympics. He says, “The timeline is realistic and achievable.” He adds, “I want it to succeed because I want the next project to happen, and the next, and the next.”
The Brightline West is just the latest venture from Wes Edens, in which seeks to employ more than 10,000 workers for its construction and create another 1,000 permanent jobs after its construction. The billionaire is previously known for his railroads in Florida, for being the owner of Allgiant Stadium, Las Vegas Sphere, Oakland Athletics and being the co-owner of the NBA team Milwaukee Bucks and Aston Villa FC in the Premier League.
Wes Edens, the billionaire who wants to build a bullet train from Las Vegas to California
The co-founder of Fortress Investment Group, a sports investor and the owner of a growing conglomerate that brings together companies from liquefied natural gas to green hydrogen manufacturing, began his career after graduating with a degree in Finance and Business Administration from the University of Oregon in 1984.
The Edens’ first steps were at Lehman Brotherswhere he became a partner in 1987 and rose to managing director in 1993. A guy later was appointed to the private equity division of BlackRock Asset Investors, where he remained until 1997. At that time he split to found Fortress Investments with four other partners.
The investment style of the billionaire and his group was characterized by a Wall Street Journal article as: “Contradictory bets, creative financing and a knack for building investment businesses.” This article described Edens’ company shortly after it became the first buyout firm to be listed on the New York Stock Exchange in February 2007.
At that time, Fortress’ assets comprised both private equity and alternative equity investments. They had 14 private equity funds, 4 hedge funds and 2 real estate investments. All of the group’s partners became billionaires when the Japanese financial company, Nomuera Holding acquired 15% of Fortress for $888 million in late 2006.
How much is Wes Edens’ fortune, according to Forbes
Brightline West 2.jpg
Forbes
The magazine specializing in finance and the fortune of billionaires, calculated that Wes Edens managed to amass a fortune valued at $2.9 billion for their investments.
Source: Ambito
