A Brawl Between Billionaire Founders at Apollo Sidelines One of Its Own
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Josh Harris made his failed pitch to take
Leon Black’s crown atop a $455 billion investing juggernaut, Black’s chosen heir is in charge — and Harris is on the outs.
Josh Harris, Leon Black, and Marc Rowan Source: Patrick T. Fallon/Bloomberg
The behind-the-scenes drama between
Apollo Global Management Inc.’s billionaire co-founders keeps brewing, with ramifications for investors as the company reconfigures its governance this year. Publicly, Harris has endorsed the decision to elevate co-founder
Marc Rowan to chief executive officer. Privately, he’s being sidelined, even as he remains a “key man” in Apollo’s flagship fund — meaning investments could stall without him.