Black got his start in the industry working on mergers and acquisitions for Drexel Burnham Lambert. When the firm went bankrupt in 1990, he co-founded Apollo, which faced its own M&A trials and tribulations in 2015. After more than a year arranging terms for a takeover of AR Global, a real estate asset manager, the deal fell through.
Black serves as a co-chairman at the Museum of Modern Art, though he does not have to make a trip there to view stunning works of art. In 2012, he made headlines for paying a reported $120M for Edvard Munch’s “The Scream,” the highest price for a painting at auction at that time. — Scott Klocksin