Randal Nardone Is A Self Made “Money Man” Who Has Served Fortress Investment Group Well

Randal Nardone is one of the co-founders and principals of Fortress Investment Group, which is one of the largest alternative asset managers in the world. Since 2006, he has also served as a member of the Board of Directors of Fortress Investment Group LLC. He studied at the University of Connecticut and received a Bachelor of Arts degree in english and biology while there. He also attended Boston University of Law where he earned his Juris Doctor. He calls New York his home and has been working in the finance sector for many years.

Randal Nardone has been singled out by Forbes as one of the top billionaires in the world and sits in its 557th spot. He is listed as having a net worth of $1.8 billion and is rightly referred to as self made on its website. This is the truth because Nardone has worked very hard for everything he has earned in his life, and he continues to do so today. Looking back, Randal Nardone has worked with Fortress in one way or another for some time. Since 1998, he has served as a member of the Management Committee of Fortress and has done a lot for the company in the many positions he has served in.

Randal Nardone is happily married with one kid, and he works very hard to provide for his family. Before becoming as involved in the business world as he is today, he was a lawyer. On top of being listed as a top billionaire on Forbe’s website, he is also referred to as a “money man.” This title has most likely been given to him because he is a man who makes others a lot of money. He also earns plenty of money for himself and his family and owns 53 million shares of his company’s stock, which is valued at $1.6 billion. Before working with Fortress Investment Group, he served as a managing director for UBS and also worked with BlackRock Financial Management as a principal. Last but not least, he served Thacher Proffitt & Wood as a member and partner of the executive committee.

Jeremy Goldstein: Telling People about Stock Options

Over the past few years, numerous corporations have stopped providing stock options as an employee benefit. It’s not fully clear why so many are eliminating stock options, but there are three recurring reasons. First, employees and employers are uncomfortable with stock values dropping too quickly.

It only takes one bad day to make a stock worthless, meaning no one can exercise that stock. If the option can’t be used, there’s no reason to keep offering stock options. Even if things do work out, there’s still the risk of option overhang, and shareholders are responsible for that.

That leads to the second reason: employees don’t want stock options anymore. A lot of corporations are eliminating stock options because their workforce wants more relevant and manageable benefits. Every time the economy spirals down, stocks are rendered worthless, making stock options more like casino tokens; only valuable as long as the casino recognizes them.

The last main reason corporations stopped providing stock options involves the hours of paperwork and accounting burdens. By the time everything wraps up, it might be more costly to provide stock options than eliminate them and offer something easier, like higher wages.

Regardless of a corporation’s reason, the trend is growing every day and very few people are trying to stop it. Jeremy Goldstein is is among the few experts fighting to keep stock options available to employees. He’s not suggesting that every company offer stock options; some can’t afford the tax burden and won’t survive.

He’s only suggesting that everyone at the top of the list rethink their employee benefits. It may seem easier to offer equities or better insurance coverage, but stock options come with more rewarding advantages. As the IRS adds to their rules, offering equities may soon become harder than providing stock options.

 

Jeremy Goldstein knows what he’s talking about; he’s been a business lawyer for nearly 20 years. Throughout his career, Jeremy Goldstein worked his way up the legal ladder and became New York’s go-to expert on matters involving employee benefits. A lot of companies take his advice to heart.

Mr. Goldstein established his own law firm, Jeremy L. Goldstein and Associates, after leaving a similar organization. Since then, he’s written numerous papers on executive compensation and spoken about corporate governance at several conventions. Learn more:  https://www.quora.com/profile/Jeremy-Goldstein-20