Black, Apollo Co-Founders Split $1.2 Billion

Mar 4 2014 | 11:35am ET

Apollo Global Management’s Leon Black made more in 2013 than any other private-equity manager, more than doubling his pay from 2012.

Black took home $546.3 million in compensation, dividends and investment gains last year, Apollo said yesterday. That’s 17% more than Blackstone Group’s Stephen Schwarzman, who earned $465.4 million.

Black wasn’t the only Apollo executive to rake it in last year: co-founders Joshua Harris and Marc Rowan collected $396.7 million and $365.8 million, respectively. The trio’s haul totaled nearly $1.2 billion.

Black, Harris and Rowan took advantage of rising markets to cash out of investments last year; Black said the firm was selling “everything that’s not nailed down.” And he wasn’t the only one: The nine top executives at Apollo, Blackstone, the Carlyle Group and Kohlberg Kravis Roberts split more than $2.6 billion in 2013, more than twice their total from 2012.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note