Josh Harris, co-founder of Apollo Global Management, is a famous American billionaire businessman and investor who is counted among the richest people in the world.
Josh Harris Biography
| Full name: | Joshua Jordan Harris |
| Profession: | Investor, Philanthropist, Sports team owner |
| Born: | December 1964, Chevy Chase, Maryland, United States |
| Education: | University of Pennsylvania (BS, 1986) Harvard (MBA, 1990) |
| Best Known For: | Apollo Global Management |
| Age: | 59 Years |
| Weight: | 95 kg |
| Height: | 6′ 3″ |
| Martial Status: | Married |
| Spouse: | Marjorie Harris |
| Parents: | Jacob Harris & Sylvia Harris |
| Religion: | Christian |
| Children: | 5 |
| Net-Worth: | US$8.5 Billion |
| Nationality: | American |
Who is Josh Harris?
Josh Harris is a famous American billionaire businessman and investor who was born in December 1964 in Chevy Chase, Maryland to Jacob Harris (orthodontist) and Sylvia Harris (teacher).
Josh Harris is a famous American billionaire businessman and investor who was born in December 1964 in Chevy Chase, Maryland to Jacob Harris (orthodontist) and Sylvia Harris (teacher).
Harris is the chairman of the National Gallery of Art. He serves on the boards of directors of Harvard Business School, the Wharton School, and Mount Sinai Hospital.
He is also a member of the Foreign Relations Council and Investor Advisory Committee (IACFM) of the New York Federal Reserve.
Harris was included in Sports Business Journal’s 2022 list of the “Most Influential “Dealmakers” and “Disruptors” for his contributions to the sports field.
Josh Harris’ Early Life and Educational background
Harris was raised in a Jewish family in the Washington metropolitan area. He also has a brother named Gabe Harris. He was more interested in sports since childhood. At the age of nine, he won a summer camp tournament in wrestling.
Harris received his primary education from The Field School located in Washington DC. He enrolled at the University of Pennsylvania School of Arts and Sciences in 1982 and graduated with a Bachelor of Science degree in economics in 1986.
He earned an MBA from Harvard Business School, where he graduated with an MBA in 1990 as a Baker Scholar and Loeb Finance Fellow.
Josh Harris’s Career
Josh Harris started his career with an investment bank named “Drexel Burnham Lambert”. Before this, he had also tried his hand in wrestling and many businesses.
Following the bankruptcy of Drexel Burnham Lambert in 1990, Harris founded Apollo Global Management, an asset management firm with Leon Black and Mark Rowan.
It was a global alternative investment management firm specialising in private equity, credit-oriented capital markets and real estate. Harris’s expertise in this area and successful investments, including the LyondellBasell transaction, contributed significantly to his wealth.
Apollo Global Management played a major role in the financial crisis of 2008. A fund managed by Apollo under Harris’ guidance invested US$2 billion in LyondellBasell stock.
The fund sold its shares at a profit of $9.6 billion over a period of about five years in 2013. That year, Harris earned $397 million from Apollo Global Management. In 2022, Harris resigned from his day-to-day operations to focus on his other ventures.
What are Josh Harris’ current business ventures?
Harris has been very fond of sports since childhood. When he became an entrepreneur, he bought many sports teams and proved to be a successful entrepreneur. Some details of this are given below.
Philadelphia 76ers (NBA)
In 2010, Harris purchased the Philadelphia 76ers from Comcast Spectator for US$280 million. It is a basketball team that is part of the National Basketball Association (NBA).
Under Harris’ ownership, the 76ers have undergone various changes and strategic developments aimed at revitalising the team’s performance and brand.
New Jersey Devils (NHL)
In 2013, Harris purchased the New Jersey Devils of the National Hockey League (NHL) for $320 million. It is a professional ice hockey team based in New Jersey, United States. It was founded in 1974 as the Kansas City Scouts and moved to New Jersey in 1982.
Harris Blitzer Sports & Entertainment” (HBSE)
In 2016, Harris partnered with fellow investor David S. Together with Blitzer, “Harris Blitzer Sports and Entertainment” (HBSE) was established. It is a leading sports and entertainment company based in the United States.
He manages the assets of the Philadelphia 76ers basketball team and the New Jersey Devils hockey team. It is also known for hosting the Prudential Center, a multi-purpose indoor arena in New Jersey that hosts sports, concerts and other entertainment events. Additionally, HBSE has invested in eSports and entertainment properties.
Delaware Blue Coats (NBA G League)
The Delaware Blue Coats are the NBA G League affiliate of the Philadelphia 76ers and are owned by Josh Harris. It provides opportunities for young players to play in the NBA and helps test new strategies.
Utica Comets (AHL)
The Utica Comets serve as the AHL affiliate for the New Jersey Devils, who are owned by the New Jersey Devils (HBSE). It provides playing opportunities for young players getting involved in ice hockey and helps them test new strategies.
Dignitas (esports franchise)
Josh Harris owns a major eSports franchise. He had bought Dignitas in 2016 through (HBSE). In 2017, HBSE acquired another eSports team, “Clutch Gaming” from the Houston Rockets. But in January 2018, HBSE merged Clutch Gaming with Dignitas.
Crystal Palace Football Club (Premier League)
In 2015, Harris purchased an 18% stake in Crystal Palace FC, which he himself owns. The current chairman of Crystal Palace Football Club is Steve Parish. Harris and Blitzer committed to invest an additional £50 million into the development of the club’s stadium, Selhurst Park.
Washington Commanders (NFL)
In 2023, HBSE purchased the Washington Commanders, a football team, for $6.5 billion. Harris has since been a partner in the team.
Since taking ownership, Harris has expressed his long-term commitment to the Washington Commanders and DMV (D.C., Maryland, Virginia) community.
They have focused on improving the fan experience by investing in stadium upgrades and fostering a positive team culture.
They have also made changes in the leadership of the organisation, most recently parting ways with head coach Ron Rivera and forming an advisory committee to find a new head coach and head of football operations.
26 North (2022)
Harris resigned from day-to-day operations of Apollo in May 2021 due to a dispute with Leon Black, and left the company in January 2022. He then plans to launch 26 North, an asset management firm with assets of more than $5 billion in 2022.
Baseball resort Cooperstown All-Star Village in 2023 and is a shareholder of Ripken Baseball, a youth baseball brand owned by Cal Ripken Jr.
Josh Harris Outdoor Business
Harris bought a stake in US Fitness in 2018 through his HRS Management and has tied up with “Canvas Property Group” to buy the apartments with a profit of more than $1 billion in 2022.
In 2020, he made a bid to purchase the New York Mets in baseball but was unsuccessful. In 2022, bid for Chelsea FC in football but was unsuccessful. He bid for the Denver Broncos of the National Football League (NFL), failing to be purchased.
What is Josh Harris’s net worth?
Currently, Josh Harris’s net worth is estimated at US$8.5 billion. He is a veteran American investor who has earned millions of dollars by investing in fields like business and sports.
He has earned the most money through Apollo Global Management, which is America’s largest investment firm.
Josh Harris Personal life
Josh Harris’s wife is Marjorie Harris (née Rubin). They met while studying at Harvard Business School. They got married in 1995. Marjorie is a businesswoman and co-founder of Harris Philanthropies with Josh.
Harris has five children, three sons and two daughters, their names are Hannah, Stuart, Thomas, Pierce and Bridget Harris. Harris lives in Miami, Florida with his children and wife.
Josh Harris Charity
Josh Harris is known for his business as well as philanthropic work. He established the “Family Charitable Foundation” with his wife Marjorie Harris in 2014. It is a non-profit organisation that helps youth, sports, disease prevention and other charitable work.
Through this trust he donated $3.5 million to the Philadelphia Police Athletic League over a five-year period.
He donated $10 million to the University of Pennsylvania, $1 million to support the Penn Quakers wrestling program, and $2 million to the regional non-profit organisation The Bridgespan Group.
Conclusion
Overall, Josh Harris is an influential American businessman who has reached the heights of success at a very young age. He is a good and intelligent economist who has established his presence in both the world of business and sports. He is no less than an inspiration for the new investor.
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