Josh Harris, a self-made billionaire, accumulated his wealth through a combination of astute business ventures and strategic investments. He is a co-founder of Apollo Global Management, a renowned alternative investment firm. In addition, he has a significant stake in several sports franchises, including the Philadelphia 76ers, New Jersey Devils, and Crystal Palace Football Club.
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Summary of how did Josh Harris make his money
|Source of Wealth||Details|
|Apollo Global Management||Co-founded the alternative investment firm in 1990.|
|Sports Franchises||Managing Partner of the Philadelphia 76ers, and has stakes in New Jersey Devils, Crystal Palace Football Club and the Washington Commanders.|
How did Josh Harris make his money
Josh Harris’s financial success is attributed to two primary sources. Firstly, his co-founding of Apollo Global Management, a leading alternative investment firm. Secondly, his ownership stakes in several major sports franchises. Let’s delve into these key sources of wealth:
1. Apollo Global Management: Harris, along with Leon Black and Marc Rowan, co-founded this alternative investment firm in 1990. The firm gained considerable success, significantly contributing to Harris’s wealth.
2. Sports Franchises: Harris’s wealth also comes from his stakes in various sports franchises. He is the Managing Partner of the Philadelphia 76ers, which has quadrupled in value since he bought it. He also holds stakes in the New Jersey Devils, Crystal Palace Football Club, and the Washington Commanders.
The Journey to Apollo Global Management
Josh Harris began his journey to financial success at Drexel Burnham Lambert, an investment bank where he met his future co-founders of Apollo Global Management. After the bank filed for bankruptcy, Harris, along with Leon Black and Marc Rowan, decided to forge their path, culminating in the creation of Apollo in 1990.
Success with Apollo Global Management
Apollo Global Management turned out to be a goldmine for Harris. The firm’s success in alternative investment strategies allowed him to amass a significant portion of his wealth. He remained with Apollo until 2021, when he announced his departure from the board.
Investments in Sports Franchises
Harris’s wealth is not confined to his success with Apollo. His investment in sports franchises has proven to be highly lucrative, contributing substantially to his net worth. His stake in the Philadelphia 76ers, for example, has more than quadrupled since he bought it in 2011.
New Ownership of Washington Commanders
In a significant move, Harris recently became the face of the new ownership group for the Washington Commanders. With a purchase price reportedly higher than his net worth, this venture symbolizes Harris’s financial prowess and ambitious approach to business and investment.
Philanthropy and Personal Life
Beyond his business ventures, Harris is known for his philanthropic efforts. He resides in Miami, Florida, is married, and has five children. He holds a Bachelor of Arts/Science from the University of Pennsylvania, The Wharton School, and an MBA from Harvard University.
Josh Harris’s wealth is a testament to his business acumen and strategic investment choices. His success in co-founding Apollo Global Management and investing in sports franchises has cemented his position as a self-made billionaire. His recent venture into the ownership of the Washington Commanders further signifies his financial prowess and ambition.
1. How much is Josh Harris worth?
Josh Harris has an estimated net worth of $6.9 billion.
2. What is Apollo Global Management?
Apollo Global Management is an alternative investment firm co-founded by Josh Harris in 1990.
3. Which sports franchises does Harris own?
Harris is the Managing Partner of the Philadelphia 76ers, and has stakes in the New Jersey Devils, Crystal Palace Football Club and the Washington Commanders.
4. When did Harris leave Apollo Global Management?
Harris announced his departure from Apollo Global Management in 2021.
5. Who are the co-founders of Apollo Global Management?
Apollo Global Management was co-founded by Josh Harris, Leon Black, and Marc Rowan.
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