Early Life and Education
Leon David Black was born on July 31, 1951, in New York City. He is the son of Eli M. Black, a Jewish businessman who emigrated from Poland. Leon Black's mother, Shirley Lubell, was an artist. He received a Bachelor of Arts in Philosophy and History from Dartmouth College in 1973 and an MBA from Harvard Business School in 1975.
Rise to Success
Black's career began in the investment bank Drexel Burnham Lambert, where he rose to managing director and head of the Mergers & Acquisitions Group, and co-head of the Corporate Finance Department. After Drexel filed for bankruptcy in 1990, Black co-founded Apollo Global Management with Joshua Harris and Marc Rowan. Apollo quickly gained a reputation for its aggressive investment strategies and turned into one of the world's largest alternative investment management firms.
Key Business Strategies
Apollo Global Management, under Black's leadership, focused on acquiring undervalued assets and companies facing challenges, often implementing aggressive restructuring strategies. This approach was instrumental in the firm's success and growth. Black has also been involved in managing investment capital on behalf of institutional investors, focusing on corporate restructuring, leveraged buyouts, and taking minority positions in growth-oriented companies.
Philanthropy
Leon Black and his wife, Debra, are active philanthropists. They co-founded the Melanoma Research Alliance (MRA), which has become a significant private funder of melanoma research. They have also supported various causes, including education, healthcare, and initiatives within the Jewish community. Black is involved with a number of art institutions and has donated significantly to Dartmouth College, including for the Black Family Visual Arts Center. During the COVID-19 pandemic, the Black family launched NYC Healthcare Heroes, a philanthropic program to support healthcare professionals.
