#283

Leon Black

$5.3 Billion
Age
:
63
Source
:
private equity, Self Made
Gender
:
Male
Residence
:
New York, NY
Marital Status
:
Married
Children
:
4
Citizenship
:
United States
Education
:
Bachelor of Arts / Science, Dartmouth College; Master of Business Administration, Harvard University
Self Made Score
:
8
Description :

Dividends are offering a thick cushion for Leon Black, founder of Apollo Global Management. The stock may be sliding--the first large drop since its 2011 IPO--but Black regularly collects nine-digit sums from the company's payouts. He collected more than $200 million alone in 2014. (The year before he brought in a half billion plus.) At Apollo Black has helped attract more than $50 billion in fresh assets since June 2013, which the company put into some high-profile buyouts. That includes joining up with billionaire Dean Metropoulos to resuscitate bankrupt Hostess, the Twinkie maker. Black's first crack at investing came when his father died and left him $75,000 in life insurance, which he used to trade commodities while he was at Harvard Business School. His career took off at Drexel Burnham Lambert, where he became the M&A chief. When Drexel folded in scandal, he struck out with Harris and Rowan to start Apollo. True to his family background (mom was an artist, aunt a gallery owner), he has an immense art collection and paid $120 million for Edvard Munch's "The Scream" and $48 million for a Raphael drawing in 2012. He and his wife Debra, a Broadway producer and Melanoma survivor, have also given millions to the Melanoma Research Alliance.

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