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Leon Black
Leon David Black (born July 31, 1951) is an American private equity investor. He is the former CEO of Apollo Global Management, which he co-founded in 1990 with Marc Rowan and Josh Harris. Black was the chairman of the Museum of Modern Art from 2018 to 2021. Black resigned from both Apollo Global Management and the Museum of Modern Art in the wake of revelations about his business ties to the New York financier, Jeffrey Epstein.
Between 2012 and 2017, Black paid Epstein a total of $170 million for "tax and financial services" that reportedly saved him over $1 billion in taxes. After Black had a long-term affair with a Russian model, she threatened to make public allegations of sexual abuse unless he paid her $100 million. Epstein negotiated a 2015 NDA under which Black agreed to pay her $100,000 per month over 15 years, totalling $18 million. In 2024, Black said that he "deeply regrets" his relationship with Epstein.
As of 2026, Black has a net worth of approximately $13.8 billion according to the Bloomberg Billionaires Index, derived primarily from his retained stake in Apollo Global Management.
Black is a son of Eli M. Black (1921–1975), a Jewish businessman who emigrated from Poland as a child (surname, "Blachowitz") and was the chairman and later majority owner of the United Brands Company. His mother, Shirley Lubell (sister of Tulsa oil executive Benedict I. Lubell) was an artist. In 1975, his father killed himself at age 53.
Black received an AB in philosophy and history from Dartmouth College in 1973 and an MBA from Harvard Business School in 1975.
Black started out as an accountant at Peat Marwick (which later became KPMG) and with the publisher Boardroom Reports. He also interviewed at Lehman Brothers but was told he did not have the brains or personality to succeed on Wall Street. From 1977 to 1990, Black was employed by investment bank Drexel Burnham Lambert, where he rose to managing director and head of the Mergers and Acquisitions Group, and co-head of the Corporate Finance Department. At Drexel, Black was regarded as "junk bond king" Michael Milken's right-hand man.
After Drexel Burnham Lambert filed for bankruptcy in 1990, Black co-founded Apollo Global Management with Marc Rowan, Josh Harris, and Antony Ressler. Apollo specialized in leveraged buyouts and distressed securities, growing to become one of the world's largest private equity firms. The firm went public in 2011 and as of March 2026 manages approximately $1.03 trillion in assets under management. Black was CEO until January 2021, when he stepped down following the publication of the Dechert report into his financial ties to Jeffrey Epstein, and fully departed Apollo in March 2021. Since leaving Apollo, Black has managed his personal investments through his family office Elysium Management, which invests in real estate and private equity.
In 2012, Black acquired Phaidon Press, a fine art books publishing house.
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Leon Black
Leon David Black (born July 31, 1951) is an American private equity investor. He is the former CEO of Apollo Global Management, which he co-founded in 1990 with Marc Rowan and Josh Harris. Black was the chairman of the Museum of Modern Art from 2018 to 2021. Black resigned from both Apollo Global Management and the Museum of Modern Art in the wake of revelations about his business ties to the New York financier, Jeffrey Epstein.
Between 2012 and 2017, Black paid Epstein a total of $170 million for "tax and financial services" that reportedly saved him over $1 billion in taxes. After Black had a long-term affair with a Russian model, she threatened to make public allegations of sexual abuse unless he paid her $100 million. Epstein negotiated a 2015 NDA under which Black agreed to pay her $100,000 per month over 15 years, totalling $18 million. In 2024, Black said that he "deeply regrets" his relationship with Epstein.
As of 2026, Black has a net worth of approximately $13.8 billion according to the Bloomberg Billionaires Index, derived primarily from his retained stake in Apollo Global Management.
Black is a son of Eli M. Black (1921–1975), a Jewish businessman who emigrated from Poland as a child (surname, "Blachowitz") and was the chairman and later majority owner of the United Brands Company. His mother, Shirley Lubell (sister of Tulsa oil executive Benedict I. Lubell) was an artist. In 1975, his father killed himself at age 53.
Black received an AB in philosophy and history from Dartmouth College in 1973 and an MBA from Harvard Business School in 1975.
Black started out as an accountant at Peat Marwick (which later became KPMG) and with the publisher Boardroom Reports. He also interviewed at Lehman Brothers but was told he did not have the brains or personality to succeed on Wall Street. From 1977 to 1990, Black was employed by investment bank Drexel Burnham Lambert, where he rose to managing director and head of the Mergers and Acquisitions Group, and co-head of the Corporate Finance Department. At Drexel, Black was regarded as "junk bond king" Michael Milken's right-hand man.
After Drexel Burnham Lambert filed for bankruptcy in 1990, Black co-founded Apollo Global Management with Marc Rowan, Josh Harris, and Antony Ressler. Apollo specialized in leveraged buyouts and distressed securities, growing to become one of the world's largest private equity firms. The firm went public in 2011 and as of March 2026 manages approximately $1.03 trillion in assets under management. Black was CEO until January 2021, when he stepped down following the publication of the Dechert report into his financial ties to Jeffrey Epstein, and fully departed Apollo in March 2021. Since leaving Apollo, Black has managed his personal investments through his family office Elysium Management, which invests in real estate and private equity.
In 2012, Black acquired Phaidon Press, a fine art books publishing house.