The co-founder of the $ 455 billion manager is stepping down from his post with immediate effect. Blamed for his relationship with the sexual predator Jeffrey Epstein, he was to give up sole management of the fund in July, while keeping the presidency.
It is the fall of an icon that has become too embarrassing for Apollo, and the hushed circle of the unlisted. Splashed by the sex scandal of Jeffrey Epstein, Leon Black, co-founder of the world number two in the sector, leaves all his functions at the head of the manager of 455 billion dollars, with immediate effect.
In January, following an investigation, Apollo revealed that the 69-year-old billionaire had paid the sexual predator over several years $ 158 million in exchange for his financial advice. And this while he knew that Jeffrey Epstein had pleaded guilty to resorting to prostitution of a minor in Florida in 2008. This amount was also three times greater than what Leon Black had recognized.