Forbes’ Billionaire Randal Nardone did not get to #557 for just anything. With a doctorate (J.D.) from Boston University School of Law and a Bachelors in Arts in English and Biology from University of Connecticut, he founded the Fortress Investment Group where he serves as Chief Executive Officer and Wes Edens, both very notable names in the financial field. Starting as a lawyer, he transitioned into finance by working for Thacher Proffit & Wood as a partner, BlackRock Financial as the principal, and even the Union Bank of Switzerland. Even though he did well in these very prolific businesses, he was not satisfied until he established his own great company in 1998. With this, he has earned his spot on the Forbes Billionaire list with a net worth of $1.8 Billion. How? Randal Nardone owns more than 50 million shares worth $1.6 Billion. Since 2005, he has earned a $100 million more in net cash payouts. Fortress Investment Group manages more than $70 billion in alternative assets like private equities, credit funds, and liquid hedge funds. The Group sold the minority interest to a Japanese investment firm, Nomura, for $890 million. In 2014, he was awarded “Hedge Fund Manager of the Year” from Institutional Investor and “Management Firm of the Year” from HFMWeek, not to mention the many other awards given in the previous years.
Besides Fortress Investment Group, Randal Nardone also has worked in different sectors of companies like Fortress Credit Corporation as the co-founder and principal, Fortress Investment Fund, Fortress Investment Trust, Springleaf Financial Holdings, New Castle Investment Holdings, as well as many others. Even more recently, planned out on February 14th, 2017, SoftBank Group bought the company for $3.3 Billion. This acquisition was completed just last December (2017). With this new development, the management of Fortress Investment Group will definitely change, but Randal Nardone will still be a part of the new management. I guess you can say he’s not ready for his baby to grow up just yet. Read full article
Hurricane Harvey dropped across Houston neighborhoods living havoc with the 56 inches rain that poured for the entire time. People watched helplessly as the floods swept homes, destroyed properties and took Americans lives. Stream Energy, a Dallas, based company, couldn’t just wait as thousands of stranded Americans went through the ordeal and lost in its aftermath. It gathered enough resources and without hesitation became one of the first company to help in the recovery in whatever way necessary selflessly. They, for instance, spend thousands of dollars easing the financial burdens of the affected Americans.
Stream Energy envisions a society that is prosperous and with a population of people with better livelihood, education, and environment. For this reason, corporate philanthropy is part and parcel of the company’s existence. It is an ingrained element in Stream’s DNA as seen by its recent launch of one of a kind charity foundation named “Stream Cares” that aims to coordinate, formalize, and extend the ongoing philanthropy work that it has tirelessly carried out for almost a decade and a half. Stream cares foundation has proved that Stream Energy genuinely cares for its clients, and it has shown an exemplary example with Hurricane Harvey where it demonstrated that charity and philanthropy is a critical part of its brand and mission. The corporate lead as a textbook example in using more than money to ensuring that it properly gave back to the society through not only assisting in the rebuilding of destroyed properties but by also taking a mile further and help in restoring human dignity.
Stream Cares and Stream Cares Foundation was launched as different philanthropy arm to function separately from the energy sales business purposely to support communities in need and fund local charities throughout Texas, its environs, and all over the country. This approach has numerous advantages such as the company is enabled keep its commitment of giving back to the community without fail, while simultaneously enhancing its reputation to the public and creating unwavering loyalty of potential clients in the society. In an aim to solidify its dedication to taking care of the society, Stream Energy has established a long-term relationship with humanitarian agencies such as Red Cross and Habitat for Humanity to reach all communities from their grassroots.
Shervin Pishevar seemed to have come up with new found energy after his unceremonious departure from Sherpa Capital, the company he found, due to sexual allegations after he comes up with a social media dossier concerning the United States economy and the government at large. According to the mogul investor, who has interest in Uber, the economy is likely to take a shift, and some of the issues that seem too obvious might come back to haunt the economy. Despite the emerging challenges, there is a glimmer of hope in the field of technology likely to be witnessed in short-term.
Shervin Pishevar understands that the Virgin Hyperloop, which is a transportation technology, will have a significant impact on the future of transportation of goods and services. It is clear that people are looking forward to increasing their travel speed from one place to another in an attempt to maximize the number of hours they have within a day. Moreover, some services such as medical emergencies need to be accessed immediately. This creates a situation where there is the need for speed. The loop will enhance the quick and efficient movement of goods, services, and people while at the same time increasing emergency response.
The next technology Shervin Pishevar sees coming into being a success is SpaceX, a technique that focuses on space tourism and championed by innovation guru Elon Musk. This means that it is not all doom for the significant policies implemented in the country as the two technologies in the transportation industry will cover the mess stinking in other sectors. Shervin Pishevar is one of the investors who has been seen promoting the emergence of these technologies as the future of the United States transportation industry.
Virgin Hyperloop and SpaceX are some of the most significant technological innovations that will rock the world in the next generation. However, Shervin Pishevar has interests in Virgin Hyperloop which is likely to elicit questions as to why he rates his own company and does not see the same happening to other organizations in the industry. However, it is worth noting that both SpaceX and Virgin Hyperloop are welcome technologies in the decaying infrastructure in the United States.