{"id":258137,"date":"2021-05-25T05:39:53","date_gmt":"2021-05-25T02:39:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jeffrey-epstein-led-to-fallout-at-apollo-global-management\/"},"modified":"2021-05-25T05:39:53","modified_gmt":"2021-05-25T02:39:53","slug":"jeffrey-epstein-led-to-fallout-at-apollo-global-management","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jeffrey-epstein-led-to-fallout-at-apollo-global-management\/","title":{"rendered":"#Jeffrey Epstein led to fallout at Apollo Global Management"},"content":{"rendered":"

“#Jeffrey Epstein led to fallout at Apollo Global Management<\/strong>”<\/p>\n

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Jeffrey Epstein was a key reason for tensions at the top of Apollo Global Management that recently spurred the exit of two of its three remaining co-founders \u2014 and the awkwardness began a decade ago, The Post has learned.\u00a0<\/p>\n

It was in 2011 that billionaire Leon Black \u2014 who on March 22 revealed he was stepping down from the helm of the giant buyout firm sooner than expected amid controversy over his Epstein ties \u2014 first floated the idea of working with the now-dead pedophile to his fellow co-founders Josh Harris and Marc Rowan, according to sources close to the situation.\u00a0<\/p>\n

That\u2019s despite the fact that Epstein had been convicted three years earlier for soliciting prostitution from a 14-year-old girl. In the meantime, Black had continued to associate with him \u2014 and was prodding Harris and Rowan to hire Epstein to do some work for them and possibly for Apollo, according to the sources.\u00a0<\/p>\n

\u201cLeon affirmatively recommended Epstein \u2014 it was more than a passing comment,\u201d one source said. \u201cHe wanted Apollo to hire him.\u201d\u00a0<\/p>\n

\"Leon
Leon Black is stepping down from Apollo Global Management amid controversy over his connection to Jeffrey Epstein.<\/figcaption>
REUTERS\/Lucy Nicholson\/File Photo<\/span><\/figcaption><\/figure>\n

Harris and Rowan \u2014 repelled by Epstein and concerned about damage to Apollo\u2019s reputation \u2014 said no, and the conversations never advanced, according to the sources. Nevertheless, tensions between the co-founders over Epstein \u2014 particularly between Black and Harris \u2014 persisted, and became a key issue as Black announced his surprise exit from the firm in March.\u00a0<\/p>\n

Last week, Harris said he was exiting the firm, leaving Rowan, the sole remaining co-founder, to serve as chief executive.\u00a0<\/p>\n

\u201cThese assertions, made by an unnamed source, are completely untrue,\u201d said a spokesman for Black.\u00a0<\/p>\n

\u201cApollo never discussed or considered hiring Jeffrey Epstein,\u201d an Apollo spokesman said.\u00a0<\/p>\n

According to sources, however, Black had been pitching Harris and Rowan on Epstein\u2019s prowess when it comes to tax- and estate-planning \u2014 the same services for which, it was revealed earlier this year, Black had racked up an eye-popping tab of $158 million with Epstein. Beyond that, insiders said Black was signaling that Apollo might hire Epstein as a consultant on investments \u2014 or possibly enter into investments with him, the sources said.\u00a0<\/p>\n

\"Marc
Marc Rowan was concerned about damage to Apollo\u2019s reputation with ties to Jeffrey Epstein.<\/figcaption>
REUTERS\/Kevork Djansezian\/File Photo<\/span><\/figcaption><\/figure>\n

Black, despite being turned down by Rowan and Harris, \u201cdoesn\u2019t like taking \u2018No\u2019 for an answer,\u201d according to a source briefed on the situation. And for years he continued to float doing various projects with Epstein to his cohorts at Apollo.\u00a0<\/p>\n

That, in turn, helped heighten tensions between the three executives \u2014 particularly Black and Harris, who were locked in a rising power struggle as Harris steadily took on more day-to-day responsibilities running the $455 billion private-equity powerhouse, sources said.\u00a0<\/p>\n

\u201cIt\u2019s been a slow burn between Josh and Leon since,\u201d a source said. \u201cLeon would bring Jeffrey [up] and he was rebuffed in ways big and small.\u201d\u00a0<\/p>\n

Tensions over Epstein came to a head in January, when Harris demanded that Black step down over concerns that his Epstein ties would tarnish the firm, sources said.\u00a0<\/p>\n

In response, Black named Rowan his successor as CEO \u2014 a surprise move given that Harris had been taking on an increasingly crucial operational role while Rowan had been taking on fewer duties at the firm, according to sources.<\/p>\n

\"Joshua
Joshua Harris revealed last week he will be leaving Apollo Global Management.<\/figcaption>
Heidi Gutman\/CNBC\/NBCU Photo Bank\/NBCUniversal via Getty Images<\/span><\/figcaption><\/figure>\n

An investigation by the law firm Dechert whose results were made public in January concluded that \u201cwhile Black did not try to pressure his co-founders to use Epstein, he did positively comment on the substantial value of Epstein\u2019s services and, at Epstein\u2019s repeated request, did try to introduce Epstein to his co-founders.\u201d\u00a0<\/p>\n

\u201cIn the end, neither co-founder hired Epstein or consulted with him on their personal matters,\u201d the report released Jan. 22 said.\u00a0<\/p>\n

While the report did not give a specific timeline for the disagreements over Epstein, \u201cDechert has also determined that Epstein unsuccessfully sought to pitch business opportunities to certain Apollo senior executives, none of which were pursued by Apollo or those executives,\u201d according to the report.\u00a0<\/p>\n

As previously reported by The Post, Epstein was listed as a director on the board of Black\u2019s charity, the Black Family Foundation, between 2001 and 2012.\u00a0<\/p>\n

At the time, Black\u2019s reps insisted that Epstein had been listed as a director for the four years following his conviction solely because of a clerical error.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Jeffrey Epstein led to fallout at Apollo Global Management” Jeffrey Epstein was a key reason for tensions at the top of Apollo Global Management that recently spurred the exit of two of its three remaining co-founders \u2014 and the awkwardness began a decade ago, The Post has learned.\u00a0 It was in 2011 that billionaire Leon…<\/p>\n","protected":false},"author":1,"featured_media":258138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/epstein-apollo-global-management-index.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[107005,72964,55838,72968],"class_list":["post-258137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-24-21","tag-apollo-global-management","tag-jeffrey-epstein","tag-leon-black"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/258137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=258137"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/258137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/258138"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=258137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=258137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=258137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}