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Wes Edens’ Financial Impact on NBA Players

When the name Wes Edens is mentioned in the United States, most individual recon his notable achievements in the finance sector. Well, he is among the few billionaires in the United States who have made an impact in the society due to his dedication to actualizing dreams and changing lives of many. His official name is Wesley Robert Edens, born in 1961 and currently resides in New York City. He attained his BSc degree in finance and Business Administration back in 1984 from Oregon University. Ever since, his scholarly knowledge in finance has seen him rise to success, erecting companies such as Milwaukee Bucks and among the co-founders of Fortress investment group. On several occasions, he has been offering financial advice to several people who have been having issues in managing their funds. Most of his clients have been the players; this is after he noted that the NBA players were having problems managing and allocating their finances.

Due to the lucrative lifestyle that they tend to lead, they often find themselves under financial constraints and depts. Worse of it all, when they retire from sports, they find it difficult to live without money as they did not invest when they had a chance.As a hedge fund manager, Wes Edens procured the team at about $550 million. In an interview, Wes said that he had started working with players in an aim to nature and equip them with knowledge about financial management and planning hence securing their future through investments. Like stars in the teams, they earn quite a lot of money, which at times may be overwhelming for some of them. Due to such reasons, they end up thinking that they are invulnerable to poverty.

The only time it hits them is when they retire and realize that they have been a mess all along, having wasted funds without thinking of the future. Wes Edens continued to talk of how three 19-year- olds individuals, who had just finished their high school studies did not have profound understanding and experience with crucial financial decisions they had to make hence the need for counseling.According to Edens, over 50 percent NBA players end up bankrupt the moment they retire from the league despite making around $ 5.15 million per season. Many are the times when they fail to account for the money they had made. Lastly, Wes Edens recalls how he made poor financial decisions at the age of 22 hence the zeal to ensure players do not experience the same.

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