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# 431 Marc Rowan $5.61B

Random fact: Charitable giving has focused on education and health.

Overview

Rowan is the chief executive officer at Apollo Global Management, the alternative asset manager he co-founded with fellow billionaires Joshua Harris and Leon Black. The New York-based firm has about $481 billion in assets under management. Rowan previously worked as an investment banker for Drexel Burnham Lambert.

As of :
Last change +$102M ( +1.9%)
YTD change -$784M ( -12.3%)
Biggest asset Cash
Country / Region United States
Age 59
Industry Finance
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Marc Rowan's net worth of $5.61B can buy ...

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of U.S. existing home sales
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Latest News

Net Worth Summary

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Confidence rating:

The majority of Rowan's fortune is derived from shareholdings and earnings at Apollo Global Management, the private-equity firm he co-founded in 1990. He owns 6.1% of the company's common shares, according to a January 2022 Schedule 13D filing with the Securities & Exchange Commission.

According to the firm's 2011 prospectus, Apollo distributed about $4.4 billion to its managing partners between 2007 and 2010, of which about $1.2 billion is credited to Rowan. These payments included sales of shares, dividends, profits on investments in Apollo funds, tax agreement payments and contingent consideration. Rowan also collected more than $1.5 billion from Apollo since the IPO, in the form of Apollo Operating Group distributions, tax benefit payments and profits on Apollo fund investments. Apollo had $481 billion in assets under management in September 2021, according to the firm's website.

The value of his cash holdings includes proceeds from his other assets and is adjusted to reflect taxes, market performance, insider transactions and charitable giving. Rowan has a family office, RWN Management, that runs real estate, credit and equity strategies.

Rowan declined to comment on his net worth.

Biography

Birthdate: 8/19/1962
Family: Married, 4 children
Education: Wharton School of the University of Pennsylvania, Wharton School of the University of Pennsylvania

Marc Rowan was born in August 1962. His mother Barbara was a teacher and pianist.

After graduating the Wharton School at the University of Pennsylvania in 1985, he joined the mergers and acquisitions team at Drexel Burnham Lambert. Speaking about his experience at Drexel later in life, Rowan once said "I worked directly for Dennis Levine, who went to jail. I then went to work for Marty Siegel, who also went to jail. I then moved out to California to work for Mike Milken, who also went to jail."

After Drexel collapsed in 1990, Rowan co-founded Apollo Global Management with his former Drexel colleagues, Leon Black and Joshua Harris. In the 1990s, investments focused on buying distressed domestic U.S. firms. Apollo has expanded its geographic and investment scope and operates in leveraged buyouts, real estate investments and publicly traded funds.

On Jan. 25, 2021, Apollo announced that Rowan would succeed Leon Black as the company's chief executive officer.

Milestones
  • 1985 Graduates summa cum laude from The Wharton School, University of Pennsylvania.
  • 1990 Co-founds Apollo Management with Leon Black and Joshua Harris.
  • 2011 Apollo Global Management begins trading on the New York Stock Exchange