Joshua Harris (businessman)

Josh Harris (born 1965) is a billionaire American private equity investor and philanthropist who co-founded Apollo Global Management, one of the world's largest alternative investment firms. Harris is the principal owner and managing partner of the New Jersey Devils of the National Hockey League and the Philadelphia 76ers of the National Basketball Association, and is a general partner in Crystal Palace of the English Premier League.
==Early life and education==
Harris was born to a Jewish family in 1965Forbes Israel: Jewish Billionaires - Profile of Joshua Harris April 14, 2013 (in Hebrew) and raised in Chevy Chase, Maryland.Philadelphia Inquirer: "Those who know him say Joshua Harris, soon-to-be Sixers owner, lives for competition and success" By Kate Fagan August 2, 2011 He attended high school in Washington D.C at The Field School. Harris is a 1986 graduate of the Wharton School of the University of Pennsylvania, earning a B.S. in economics, and received his MBA from the Harvard Business School where he graduated as a Baker Loeb Scholar. He wrestled in college.
==Financial career==
He worked at Drexel Burnham Lambert before co-founding Apollo Global Management with Leon Black and Marc Rowan in 1990. 
Harris and Rowan were named Buyout Pros of the Year for 2004 by BuyoutsInsider.com.
In 2008, Harris and his Apollo partners invested $2 billion into LyondellBasell before it filed for bankruptcy in 2009. When Apollo eventually sold their shares in the company in 2013, they realized a paper profit of $9.6 billion, the biggest profit ever from a private equity investment according to Bloomberg.
He is currently one of three managing partners of Apollo, along with Black and Rowan. As of July 2020, his estimated net worth was $4.9 billion.Abbott, Henry. Sources: 76ers sales talks ongoing. ESPN, June 26, 2011.DiStefano, Joseph. Would-be Sixers owner Harris' Philly ties. The Philadelphia Inquirer, June 26, 2011.
Harris advised the Trump Administration on infrastructure policy. Harris and White House advisor Jared Kushner reportedly discussed offering Harris a job in the Trump Administration. Apollo Global Management subsequently loaned $184 million to Kushner Companies. Apollo spokesman Charles V. Zehren stated that Harris was not involved in the decision to loan to Kushner.
As of the end of 2019, Harris and his Apollo partners reported that the firm had $331 billion in assets under management.
==Sports career==
===Philadelphia 76ers===
Harris and David S. Blitzer of the private equity firm Blackstone Group are the co-founders and managing partners of an investment group, Harris Blitzer Sports & Entertainment that won a $280 million bid for the purchase of the Philadelphia 76ers from Comcast Spectacor in 2011. The other members of the investment group were portfolio manager Art Wrubel, a fellow Wharton School of the University of Pennsylvania graduate, as well as former NBA agent and Sacramento Kings executive Jason Levien, former Vail Resorts CEO Adam Aron, Martin J. Geller, David B. Heller, Travis Hennings, James Lassiter, Marc Leder, Michael Rubin, Will Smith & Jada Pinkett Smith, and Indonesian businessmen Handy Soetedjo & Erick Thohir.ESPN: "Group led by Joshua Harris completes purchase of Sixers" October 18, 2011 Comcast Spectacor and Harris began talks in the summer of 2011. The deal was announced on July 13, 2011.Sale of 76ers to Joshua Harris finished. ESPN, July 13, 2011. The NBA formally approved the deal on October 13.Group led by Joshua Harris completes purchase of 76ers . Philadelphia 76ers, October 13, 2011.
===New Jersey Devils===
On August 15, 2013, it was announced that HBSE, led by Harris and partner Blitzer purchased a majority stake in the New Jersey Devils of the NHL, which includes the rights to operate Prudential Center in Newark, New Jersey. The transaction was reportedly for over $320 million. 
===Crystal Palace F.C.===
Harris and Blitzer were rumored to be interested in purchasing Premier League team Aston Villa, following the announcement by Randy Lerner that the club is up for sale. Harris was then further linked in acquiring South London club Crystal Palace, currently of the Premier League. After more than a year of talks, Harris and Blitzer each bought an 18% stake in Crystal Palace in December 2015, matching the stake owned by team chairman Steve Parish and giving the three control of the club.
===Additional portfolio items===
Harris and Blitzer, through Harris Blitzer Sports and Entertainment, also own the NBA G League's Delaware Blue Coats, the AHL's Binghamton Devils, esports team Dignitas of New Meta Entertainment, sports tech venture capital firm HBSE Ventures, and marketing, hospitality, and event ticketing company Elevate Sports Ventures.
Harris has also expressed interest in buying the first NFL team to be based out of London. In 2020, Bloomberg reported that Harris & Blitzer acquired a stake of less than 5% in the NFL's Pittsburgh Steelers. As part of this transaction, the two joined the ownership group as passive investors. The stake was not part of their holding company, Harris Blitzer Sports & Entertainment.
==Philanthropy==
Harris and his wife Marjorie co-founded Harris Philanthropies, formerly known as the Harris Family Charitable Foundation, in 2014. The foundation’s stated goals are "to uplift communities in need, pioneer solutions and promote education and leadership development."
Harris has supported After-School All-Stars and America SCORES which help low-income youth to combine their love of athletics with academic success.
In August 2020, Harris and his wife gave a $2 million grant to the Bridgespan Group to launch Leading for Impact, a leadership program to serve Philadelphia area nonprofits.
In February 2019, Harris and his wife gave $10 million to his alma mater, Penn’s Wharton School, to establish the Joshua J. Harris Alternative Investments Program. Previously, Harris established the school’s Harris Family Endowed Scholarship. In July 2018, the family’s foundation also donated $1 million to support Penn’s wrestling program.
In 2015, Harris committed to donate $3.5 million over 5 years to the Philadelphia Police Athletic League, a cause committed to helping Philadelphia children. This was the largest gift in the organization’s history.
==Personal life==
Harris is married to Marjorie Rubin, they have five children, and live in New York City.Legacy.com: "ALBERT RUBIN" January 5, 2012Wharton Magazine: "The Private-Equity Diaries" January 26, 2012 Harris sits on the board of Mount Sinai Medical Center, Harvard Business School, and Wharton’s Board of Overseers. In 2013, he was honored by the National Wrestling Hall of Fame with the Outstanding American Award.
==References==
==External links==
*Harris Philanthropies website
Category:1965 births
Category:National Hockey League owners
Category:New Jersey Devils executives