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A Brawl Between Billionaire Founders at Apollo Sidelines One of Its Own

After urging Leon Black out, Harris is no longer running day-to-day operations

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The Behind-the-Scenes Drama Between Apollo's Co-Founders

Three months after Josh Harris made his failed pitch to take Leon Black’s crown atop a $455 billion investing juggernaut, Black’s chosen heir is in charge -- and Harris is on the outs.

The behind-the-scenes drama between Apollo Global Management Inc.’s billionaire co-founders keeps brewing, with ramifications for investors as the company reconfigures its governance this year. Publicly, Harris has endorsed the decision to elevate co-founder Marc Rowan to chief executive officer. Privately, he’s being sidelined, even as he remains a “key man” in Apollo’s flagship fund -- meaning investments could stall without him.