Leon Black

Worth an estimated $3.4 billion, Leon David Black is an American businessman and money manager, with a focus on leveraged buyouts and private equity. Leon founded the private equity firm Apollo Global Management in 1990. Apollo is headquartered in New York City, and also has offices in Purchase, New York, Los Angeles, Houston, London, Frankfurt, Luxemburg, Singapore, Hong Kong and Mumbai. The firm has invested over $16 billion in companies.

The Punt: Apollo's Leon in the Black

These deals have ensured that Apollo founder Leon Black earned around $369m (€268m) from his stake in the company he founded in 1990. Bloomberg helpfully calculated that Black's dividend income is almost 25,000 times the $15,080 in annual pay earned by an American on minimum wage. That means that every 21 minutes Black earned what a worker on the minimum wage earns in a year.

Source: www.independent.ie | Date: 26th February 2014 Read more