Leon Black Net Worth (Updated 2024)

What is Leon Black’s Net Worth?

Leon Black, the American entrepreneur and co-founder of Apollo Global Management, has an estimated net worth of $13.7 billion. The majority of Black’s wealth stems from his ownership in Apollo Global Management, a leading private equity firm that he co-founded in 1990. Apollo has grown to manage over $651 billion in assets, contributing significantly to Black’s net worth. His stake in Apollo Global Management alone is valued at around $4.8 billion.

Despite stepping down as CEO and chairman in 2021 due to controversy surrounding his ties to Jeffrey Epstein, Black continues to hold a substantial ownership position in the company.

Black is known for his extensive art collection, which is estimated to be worth approximately $1 billion. This collection includes high-profile pieces such as Edvard Munch’s “The Scream,” which he purchased in 2012 for $119.9 million, setting a record at the time for the highest price paid for a work of art.

Real estate also forms a significant part of Black’s asset portfolio. He owns multiple luxury properties, including a Manhattan townhouse worth at least $50 million and a Southampton beachfront home purchased for $43 million. Additionally, he acquired a Beverly Hills mansion from Tom Cruise for $38 million in 2016.

It’s worth noting that Black’s net worth has fluctuated due to various factors, including legal settlements and investments. For instance, he paid $62.5 million to the U.S. Virgin Islands in 2023 to be released from claims related to the Jeffrey Epstein investigation.

Here’s the breakdown of Leon Black’s net worth:

If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.

Early Life

Leon David Black was born on July 31, 1951, in New York City to a prominent Jewish family. His father, Eli M. Black, was a successful businessman who emigrated from Poland and became the chairman and majority owner of the United Brands Company. 

Tragically, Eli Black committed suicide in 1975, an event that profoundly impacted Leon’s life. His mother, Shirley Lubell, was an artist. Leon Black attended Dartmouth College, where he graduated with an AB in philosophy and history in 1973. He then went on to earn an MBA from Harvard Business School in 1975. 

Drexel Burnham Lambert

Leon Black’s career took a significant turn when he joined Drexel Burnham Lambert in 1977. At Drexel, he quickly rose through the ranks to become the managing director and head of the Mergers & Acquisitions Group, as well as co-head of the Corporate Finance Department.

Black was closely associated with Michael Milken, the so-called “junk bond king,” and played a pivotal role in Drexel’s aggressive and innovative strategies in the high-yield bond market. Drexel Burnham Lambert was instrumental in financing many of the major corporate takeovers of the 1980s. 

However, the firm’s aggressive practices eventually led to its downfall, culminating in a bankruptcy filing in 1990 due to illegal activities in the junk bond market. Despite the firm’s collapse, Black’s tenure at Drexel solidified his reputation as a formidable dealmaker.

Apollo Global Management

In 1990, following the collapse of Drexel Burnham Lambert, Leon Black co-founded Apollo Global Management with several former Drexel colleagues, including Marc Rowan and Josh Harris.

Apollo quickly established itself as a powerhouse in the private equity industry, specializing in leveraged buyouts, corporate restructuring, and distressed securities. 

Under Black’s leadership, Apollo grew to manage over $500 billion in assets, becoming one of the largest alternative investment firms in the world. Black’s strategic vision and aggressive investment style were key drivers of Apollo’s success. He served as the CEO and chairman of Apollo until 2021, when he stepped down amid controversy over his ties to Jeffrey Epstein. Despite his departure, Black remains a significant shareholder and influential figure in the firm.

Epstein Associations and Allegations

Leon Black’s career has been marred by his association with Jeffrey Epstein, the financier and convicted sex offender. Black paid Epstein $158 million between 2012 and 2017 for what he described as tax and estate planning services. This relationship came under intense scrutiny following Epstein’s arrest and subsequent death in 2019.

In 2021, an internal investigation by Apollo found no evidence of Black’s involvement in Epstein’s criminal activities, but the controversy led to Black stepping down from his roles at Apollo. 

In addition, Black has faced multiple allegations of sexual misconduct linked to his association with Epstein. He has denied all allegations, and some lawsuits have been dismissed, but the legal and reputational fallout continues to affect him. In 2023, Black agreed to pay $62.5 million to the U.S. Virgin Islands to avoid potential legal action related to Epstein’s activities.

Personal Life

Black is married to Debra Ressler, a Broadway producer. The couple has four children together, all of whom are actively involved in the family’s philanthropic efforts.

Black’s wife is a melanoma survivor, which inspired the couple to co-found the Melanoma Research Alliance in 2007, committing over $150 million to fund melanoma research.

Real Estate

Leon Black’s real estate portfolio is as impressive as his financial holdings. He owns multiple luxury properties across the globe, reflecting his substantial wealth. Some of his notable real estate acquisitions include:

1. A Manhattan townhouse worth at least $50 million.
2. A Southampton beachfront home purchased for $43 million.
3. A Beverly Hills mansion bought from Tom Cruise for $38 million in 2016.
4. A $21 million mansion in Belgravia, London, acquired in 2021.

These high-value properties contribute significantly to Black’s overall net worth and showcase his penchant for luxury real estate investments. The London townhouse, for instance, is a 7,500-square-foot unit that Black purchased from the estate of Kathleen DuRoss Ford, the widow of Henry Ford II.

Art Collection

Leon Black is renowned in the art world for his extensive and valuable art collection, estimated to be worth approximately $1 billion. His collection includes works by some of the most celebrated artists in history. Notable pieces in Black’s collection include:

1. Edvard Munch’s “The Scream,” which he purchased in 2012 for $119.9 million, setting a record at the time for the highest price paid for a work of art.
2. Works by Pablo Picasso, including the celebrated 1931 plaster sculpture “Bust of a Woman (Marie-Thérèse)”.
3. Paintings by Paul Cezanne, including a watercolor “Portrait de Vallier de Profil” purchased for $30 million.
4. Pieces by other renowned artists such as Raphael and J.M.W. Turner.

Black’s art dealings have also come under scrutiny, particularly in relation to his association with Jeffrey Epstein. In 2016, Black sold a Giacometti sculpture for $25 million in a transaction involving Epstein, which has been investigated for potential tax implications.

As one of the world’s leading art collectors, Black has been involved with several prominent art institutions. He served as a trustee of the Museum of Modern Art and was its chairman from 2018 to 2021. 

Ashley Roberts

Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.

With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.