Bloomberg Billionaires Index

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# 287 Josh Harris $7.59B

Random fact: Takes a helicopter to watch his teams in New Jersey and Philadelphia.

Overview

Harris is a co-founder of Apollo Global Management, the alternative asset manager he started with Marc Rowan and Leon Black. Harris said in May 2021 that he was leaving his day-to-day role at the firm. He has a family office called HRS Management and is a co-owner of the NBA's Philadelphia 76ers and NHL's New Jersey Devils.

As of :
Last change +$59.6M ( +0.8%)
YTD change -$386M ( -4.8%)
Biggest asset Cash
Country / Region United States
Age 57
Industry Finance
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Josh Harris's net worth of $7.59B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
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Confidence rating:

The majority of Harris's fortune is derived from shareholdings and earnings at Apollo Global Management, the alternative asset manager he co-founded in 1990. He owns about 6.7% of the firm, according to a January 2022 Schedule 13D filing.

According to the firm's 2011 prospectus, Apollo distributed about $4.4 billion to its managing partners between 2007 and 2010, of which about $1.2 billion is credited to Harris. These payments include share sales, dividends, profits on investments in Apollo funds, tax agreement payments and contingent consideration. Harris also collected more than $1.3 billion from Apollo since the IPO, in the form of Apollo Operating Group distributions, tax benefit payments and profits on Apollo fund investments. Apollo had $481 billion in assets under management in September 2021, according to the company's website.

Harris also owns stakes in sports and entertainment ventures including the Philadelphia 76ers NBA team and New Jersey Devils NHL team through his firm Harris Blitzer Sports & Entertainment. His stake is calculated at 51% given his role as managing partner in those teams. Their value is based on transaction data for comparable teams and data from Sportico, a valuations service.

The value of his cash holdings includes proceeds from his other assets and is adjusted to reflect taxes, market performance, insider transactions and charitable giving.

Harris declined to comment on his net worth.

Biography

Birthdate: 12/1/1964
Family: Married, 5 children
Education: Wharton School of the University of Pennsylvania, Harvard Business School

Josh Harris was born in December 1964 in Chevy Chase, Maryland. His father was an orthodontist and his mother was a schoolteacher.

After graduating the Wharton School at the University of Pennsylvania in 1986, he joined the mergers and acquisitions team at Drexel Burnham Lambert. It was at Drexel that he met his future Apollo co-founders, Leon Black and Marc Rowan.

After Drexel collapsed in 1990, Harris, Black and Rowan co-founded Apollo Global Management. In the 1990s, they focused on buying distressed U.S. firms. Apollo has expanded its geographic and investment scope and operates in leveraged buyouts, real estate investments and publicly traded funds, and is now one of the world's largest alternative asset managers.

In 2011, Harris led the investment group that purchased the Philadelphia 76ers NBA franchise from Comcast Spectacor. He subsequently co-founded Harris Blitzer Sports & Entertainment, whose investments include the New Jersey Devils NHL franchise and Prudential Center in Newark, NJ.

Shortly after Marc Rowan was promoted to chief executive officer at Apollo, Harris announced in May 2021 he was stepping down from his day-to-day responsibilities at the firm to focus on his personal investments.

Harris lives in New York City with his wife, Marjorie, and their five children.

Milestones
  • 1986 Graduates summa cum laude from The Wharton School, University of Pennsylvania.
  • 1990 Founds Apollo with Leon Black and Marc Rowan.
  • 2011 Heads group that buys the Philadelphia 76ers NBA team.
  • 2011 Apollo Global Management begins trading on the New York Stock Exchange.