Finance
Leon Black Sells Apollo Global Stock for the First Time Ever
- Former CEO unloads $173 million of shares, or 2% of his stake
- Billionaire previously has pledged shares to boost liquidity
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Leon Black sold Apollo Global Management Inc. stock for the first time, making the move almost three years after he exited the buyout giant that made him one of Wall Street’s richest billionaires.
Black unloaded $172.8 million of stock in the New York-based firm last week, according to a regulatory filing Monday. That’s almost 2% of his stake in the alternative-asset manager, which has seen its shares rise about 480% since going public 13 years ago.