Introduction
Have you ever wondered how much money celebrities or business tycoons make? Josh Harris is one such famous personality who has amassed a massive fortune through years of hard work and intelligence. He is a renowned businessman, one of the co-founders of Apollo Global Management LLC, and an owner of several sports franchises. In this blog post, we will take a deep dive into Josh Harris’ net worth, how he acquired it, and the various sources of his income.
Who is Josh Harris, and How Did He Make His Fortune?
Josh Harris is a businessman and entrepreneur who has made a name for himself in the world of finance and sports. He was born on December 15, 1965, in Chevy Chase, Maryland. Josh graduated from the University of Pennsylvania’s Wharton School, where he obtained his Bachelor of Science degree in economics. He later received his MBA from Harvard Business School in 1990.
Harris is best known for co-founding Apollo Global Management LLC, a private equity investment firm, where he currently serves as a Senior Managing Director. He has been instrumental in building the firm to become one of the most successful global alternative investment managers.
How Did Josh Harris’ Multi-Million Dollar Net Worth Accumulate?
According to Forbes, Harris’ net worth is approximately $4.6 billion. This puts him among the top 500 richest people in the world. The primary source of his wealth is his equity stake in Apollo Global Management LLC. Harris owns about 7.5% of Apollo’s management company, which is valued at around $2.6 billion.
The billionaire businessman also has a diverse range of investments in various industries, including technology, real estate, and sports. Besides, Harris owns several sports franchises, including the Philadelphia 76ers and the New Jersey Devils. He also owns a stake in Crystal Palace, a London-based soccer club.
Josh Harris’ Income from Sports Franchises
Josh Harris is not just a businessman but also a sports enthusiast. He has invested heavily in several sports franchises, including the Philadelphia 76ers and the New Jersey Devils. Harris and a group of investors first acquired the 76ers in 2011 for $280 million. In 2020, the franchise’s estimated value rose to approximately $2.4 billion, according to Forbes.
Similarly, Harris and his group of investors acquired the New Jersey Devils in 2013 for $320 million. According to Forbes, the team’s estimated value is about $550 million as of 2021. Through these sports franchises, Harris earns substantial revenue through ticket sales, merchandise, and endorsements.
Josh Harris’ Real Estate Portfolio
Apart from investing in private equity and sports franchises, Josh Harris has also invested in real estate. He owns several properties, including a $50 million mansion in the Hamptons, New York, that he acquired in 2013. In 2019, Harris and his wife also purchased a $45 million duplex apartment in New York City.
In addition to his private portfolio, Josh Harris and his private equity firm have also invested in real estate projects globally. The firm has invested in companies that specialize in acquiring and developing real estate, such as Realogy and homebuilder KB Home.
FAQs
Q.1. What is Josh Harris’ net worth?
Josh Harris’ net worth is estimated at $4.6 billion, according to Forbes.
Q.2. What is the primary source of Josh Harris’ wealth?
The primary source of Josh Harris’ wealth is his equity stake in Apollo Global Management LLC.
Q.3. What sports franchises does Josh Harris own?
Josh Harris owns Philadelphia 76ers, New Jersey Devils, and has a minority stake in Crystal Palace F.C.
Q.4. How much did Josh Harris pay for the Philadelphia 76ers?
Josh Harris led a purchase group that acquired the Philadelphia 76ers for $280 million in 2011.
Q.5. Does Josh Harris have investments in real estate?
Yes, Josh Harris owns several properties, including a $50 million mansion in the Hamptons, New York. And his private equity firm Apollo has also invested in various real estate projects.
Q.6. How did Josh Harris get started in finance?
Josh Harris graduated from the University of Pennsylvania’s Wharton School, where he obtained his Bachelor of Science degree in economics. He later received his MBA from Harvard Business School and joined the Drexel Burnham Lambert investment bank.
Q.7. How is Josh Harris different from other billionaires?
Josh Harris is known for his effervescent personality and his proactive approach towards philanthropy. He has donated generously towards several causes, including education, healthcare, and the arts.
The Bottom Line
Josh Harris’ net worth is evidence of a life dedicated to smart investments, innovation, and successful business ventures. From his humble beginnings to his massive fortune today, Harris has proven the importance of having a solid plan, discipline, and patience when pursuing financial goals. With his success, he has shared his wealth with those around him, emphasizing the importance of philanthropy and giving back.