Leon Black Net Worth

Leon Black Net Worth and Salary

Leon Black is an American businessman and investor with a net worth of $8 billion as of 2021. He earns an annual salary of $5 million as the Chairman and CEO of Apollo Global Management Inc. Black has made his fortune through over three decades of investments and buyouts in various industries, including private equity, arts, and real estate.

Early Life and Education

Leon Black was born on July 31, 1951, in New York City, New York, to a family of Jewish ancestry. His father was a businessman and art collector, and his mother was an artist. He attended the prestigious preparatory school, The Browning School, and received a Bachelor of Arts degree in Philosophy from Dartmouth College in 1973. Leon Black later obtained a Master of Business Administration degree from the Harvard Business School in 1975.

Career

After completing his MBA, Black joined the investment firm Drexel Burnham Lambert, where he worked under the legendary financier, Michael Milken. In 1985, he founded the private equity firm Apollo Global Management Inc. with three partners. Over the years, Black and his team have built Apollo into a leading global investment management firm, with assets under management worth over $450 billion. Apollo specializes in private equity, credit, and real estate investment. Apollo’s portfolio includes companies such as Caesar’s Entertainment, ADT, and McGraw-Hill Education.

In addition to business, Leon Black has also been actively involved in the art world. He has been a trustee of the Metropolitan Museum of Art since 1997 and in 2018 made headlines when it was revealed that he had purchased a painting by Leonardo da Vinci, Salvator Mundi, for a record-breaking $450 million.

Personal Life

Black is married to Debra Ressler, a Broadway producer, and they have four children together. The couple is known for their support of various philanthropic causes, most notably medical research. The Leon Black Foundation has given millions of dollars to organizations such as the Breast Cancer Research Foundation, the Prostate Cancer Foundation, and the Melanoma Research Alliance.

Real Estate

Leon Black is also known for his impressive real estate portfolio, which includes properties in some of the world’s most desirable locations. In 2011, he purchased a penthouse apartment in New York City’s Upper East Side for $52.5 million. He also owns a 17-acre estate in Southampton, New York, named “Three Ponds Farm,” which he purchased for $40 million in 2003. In 2012, he sold his Miami Beach mansion for $19 million to hedge-fund manager Paul Tudor Jones.

Legacy

Leon Black’s legacy in the business and art worlds is well established. He is widely considered to be one of the most successful investors of his generation, with a track record of generating high returns for his investors. His contributions to the arts have also been significant, both in terms of his personal collection and his philanthropic efforts. Black has been praised for his commitment to medical research, which has the potential to make a significant impact on improving people’s lives.

FAQs

1. What is Apollo Global Management?

Apollo Global Management is a leading global investment management firm with over $450 billion in assets under management. The firm specializes in private equity, credit, and real estate investment.

2. What is Leon Black’s net worth?

Leon Black’s net worth is estimated at $8 billion as of 2021.

3. What is Leon Black’s annual salary?

Leon Black earns an annual salary of $5 million as the Chairman and CEO of Apollo Global Management Inc.

4. What is Leon Black’s real estate portfolio?

Leon Black owns several impressive properties, including a penthouse apartment in New York City’s Upper East Side and a 17-acre estate in Southampton, New York, named “Three Ponds Farm.”

5. What is Leon Black’s involvement in the art world?

Leon Black is a trustee of the Metropolitan Museum of Art, and in 2018 purchased a painting by Leonardo da Vinci, Salvator Mundi, for a record-breaking $450 million.

6. What philanthropic causes does Leon Black support?

Leon Black and his wife support various philanthropic causes, most notably medical research. The Leon Black Foundation has given millions of dollars to organizations such as the Breast Cancer Research Foundation, the Prostate Cancer Foundation, and the Melanoma Research Alliance.

7. What is Leon Black’s early life and education?

Leon Black was born in New York City, New York, to a family of Jewish ancestry. He attended The Browning School and received a Bachelor of Arts degree in Philosophy from Dartmouth College in 1973. He later obtained a Master of Business Administration degree from the Harvard Business School in 1975.

8. What is Leon Black’s career history?

After completing his MBA, Leon Black worked at the investment firm Drexel Burnham Lambert, where he worked under the legendary financier, Michael Milken. In 1985, he founded Apollo Global Management Inc., which has since become a leading global investment management firm.

9. What are some notable investments made by Apollo Global Management?

Apollo Global Management has invested in many well-known companies, including Caesar’s Entertainment, ADT, and McGraw-Hill Education.

10. How has Leon Black contributed to medical research?

The Leon Black Foundation has given millions of dollars to organizations such as the Breast Cancer Research Foundation, the Prostate Cancer Foundation, and the Melanoma Research Alliance.

11. What is Three Ponds Farm?

Three Ponds Farm is a 17-acre estate in Southampton, New York that Leon Black purchased for $40 million in 2003.

12. What is Salvator Mundi?

Salvator Mundi is a painting by Leonardo da Vinci that Leon Black purchased in 2018 for a record-breaking $450 million.

13. What is Leon Black’s family life like?

Leon Black is married to Debra Ressler, a Broadway producer, and they have four children together.

14. How does Leon Black’s net worth compare to other billionaires?

Leon Black’s net worth of $8 billion is substantial but not among the top 100 richest people in the world.

15. What is the future of Apollo Global Management?

Apollo Global Management has a strong track record and is expected to continue to be a major player in the investment management industry.