Joshua Harris – Billionaire

Josh Harris knows how to time an investment. His Philadelphia 76ers have had a losing record every year since 2013, including an abysmal 10-72 finish to the 2015-2016 season. Still, the team’s value has risen to $800 million since he and a group of investors bought it for roughly $290 million in 2011, and may soar even higher after securing Ben Simmons as the 2016 number one draft pick. Harris is hoping for similar returns on his stakes in the NHL’s New Jersey Devils, which he acquired in 2013, and the English Premier League’s Crystal Palace Football Club, which he picked up in late 2015. Harris’ very lucrative daytime job is senior managing director of Apollo Global Management, the buyout firm he co-founded in 1990 with Leon Black and Mark Rowan. The trio started the private equity mega-fund after their previous employer, Drexel Burnham Lambert, collapsed in scandal. The son of an orthodontist, Harris attended the University of Pennsylvania and got his MBA at Harvard. He is a former wrestler and still competes in marathons and triathlons.

Joshua Harris is the principal owner of the Philadelphia 76ers of the National Basketball Association and the team’s Governor on the NBA Board of Governors. He has an estimated net worth of $2.6 billion as of May 2015 according to Forbes. As of March 2013, he is #704 in The Forbes Billionaires List, # 243 in the United States, and #298 in The Forbes 400 List (2012).  He is considered as a New York-based leveraged buyout specialist who has a Bachelor of Science degree in Economics (cum laude) from the Wharton School of Business in the University of Pennsylvania. He also has a master’s degree from the Harvard Business School and was named a Baker and Loeb Scholar.

Harris is one of the three founders of Apollo Global Management, a publicly listed alternative investment manager, in 1990 along with Leon Black and Mark Rowan after their previous employer Drexel Burnham collapsed. He also sits on the board of several companies such Apollo, LyondellBasell and oil and gas producer EP Energy, in which the firm co-invested. He serves as a member of The Federal Reserve Bank of New York Investors Advisory Committee on Financial Markets and the Undergraduate Executive Board of The Wharton School of the University of Pennsylvania.

Source:

1. forbes

2. .therichest