The Billionaire Concentration Bet

2015 Leon Black's net worth breakdown,courtesy of the Epstein files.

The Jeffrey Epstein files were recently made public, revealing details of Leon Black’s 2015 investment portfolio. Black, co-founder of the alternative investment firm Apollo Global Management (APO) had an estimated $5 billion portfolio at the time. Nearly 50% of his net worth was tied to Apollo stock and Apollo-managed funds, which is an unusually undiversified position for a billionaire investor. The other half consisted primarily of personal assets, including highly specialized holdings such as fine art and rare books. The remaining balance of $154M is in cash earning less than 0.15% interest.

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This net worth does not include any liabilities or loans. This graph was produced by Lucas Juery, CFA, CFPⓇ and is not intended to provide financial advice.

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