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East of Edens

Wes Edens, the billionaire entrepreneur and NBA owner, is attempting to restructure New Fortress Energy in London, where the courts are much friendlier to equity holders—the hot new trend for American companies, and a potential win for Edens, who is otherwise having a pretty bad week.

Wes Edens
To try to salvage New Fortress, Edens made a smart move—one that is starting to look like a thing among financially distressed U.S. companies.
William D. Cohan
May 11, 2026

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It’s been a rough few weeks for Wes Edens, the co-founder of Fortress Investment Group, now owned by Mubadala Investment Company, and co-owner of the Milwaukee Bucks, which just limped through a dismal 32-50 season, far out of the postseason playoff picture. Brightline, the privately owned Florida rail service that Edens conceived and Fortress financed, is undergoing a major restructuring that could entirely wipe out its stake. Meanwhile, The Wall Street Journal reported yesterday that Edens is being extorted by a former sexual partner who tried to shake him down for more than $1 billion. At least his Aston Villa football team is holding its own so far this season.