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☆ US Senate panel probes billionaire Leon Black's financial ties to Jeffrey Epstein
▼ + stars: | 2023-07-25 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com time to read: +2 min

WASHINGTON, July 25 (Reuters) - The U.S. Senate's Finance Committee on Tuesday revealed an ongoing probe into private equity billionaire Leon Black's financial ties with disgraced late financier Jeffrey Epstein, and said the investigation "uncovered serious tax issues." The Senate panel said that a reported $158 million of payments in several installments from 2012 to 2017 by Black to Epstein for financial advice seemed "inexplicably large," given that Epstein was "neither a licensed tax attorney nor a certified public accountant." A spokesperson for Black said the billionaire had "cooperated extensively" with the panel's probe and provided detailed information. Black had previously acknowledged he paid Epstein for "legitimate financial advisory services." Last week, the New York Times reported that Black paid $62.5 million to the U.S. Virgin Islands to avoid any legal claims tied to an Epstein sex-trafficking investigation.

Persons: Leon, Jeffrey Epstein, Black, Epstein, Donald Trump, Bill Clinton, Kanishka Singh, Jonathan Oatis Organizations: Senate's Finance, New York Times, U.S . Virgin, Forbes, Apollo Global Management, Thomson Locations: U.S, Washington

☆ Senate panel probes billionaire Leon Black's $158 million in payments to Jeffrey Epstein
▼ + stars: | 2023-07-25 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

A Senate panel on Tuesday revealed a yearlong investigation into Apollo Global Management co-founder Leon Black's ties to the late disgraced financier Jeffrey Epstein, with a focus on $158 million Black allegedly paid Epstein for tax and estate planning services. The probe into Black's tax schemes is one of a series of investigations by the committee into how ultra-wealthy people skirt their tax bills, Wyden's letter said. The committee's latest round of questions are "inappropriately invasive" and potentially overstep the panel's oversight role, Black's memo contended. Overnight, the U.S. Virgin Islands lobbed new accusations against JPMorgan Chase in a lawsuit accusing the bank of enabling Epstein's criminal activity. Both the Virgin Islands and JPMorgan filed motions overnight for partial summary judgment in the lawsuit.

Persons: Leon Black, Leon Black's, Jeffrey Epstein, Epstein, Ron Wyden, Black, Wyden, Wealth Management David Brigstocke Organizations: Apollo Global Management, Milken Institute Global Conference, U.S . Virgin, JPMorgan Chase, JPMorgan, Asset, Wealth Management, Virgin Islands Locations: Beverly Hills , California, U.S, Slovakian

☆ Meet the Morgan Stanley rainmaker tapped to chair the M&A division of law firm Paul Weiss as fears of investor activism grow
▼ + stars: | 2023-06-07 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

Morgan Stanley rainmaker Robert Kindler is leaving the investment bank for law firm Paul Weiss. Kindler, global chair of mergers and acquisitions at Morgan Stanley, has been named global chair of M&A at Paul, Weiss, Rifkind, Wharton & Garrison LLP. "Paul, Weiss has the premier franchise for M&A and activism defense and I am excited to become a part of it." Last year, Paul Weiss represented the board of McDonald's in its proxy fight with activist investor Carl Icahn. In 2000, he joined JPMorgan, where he was named global head of M&A before joining Morgan Stanley in 2006.

Persons: Morgan Stanley, Robert Kindler, Paul Weiss, Weiss, Garrison, Kindler, Paul, Carl Icahn, Leon Black's, Jeffrey Epstein, Goldman Sachs, John Waldron, Waldron, Scott Barshay, Brad Karp, Moore, Morgan, Eaton Vance, James Gorman Organizations: Morning, Paul, Apollo, NFL, Barshay, JPMorgan, Time Warner, Labor Locations: Rifkind, Wharton, Cravath, ETrade, Kindler

☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

☆ Wall Street titan Apollo has a new class of dealmakers. Here's how 3 rose to partner while in their 30s.
▼ + stars: | 2022-11-17 | by ( Casey Sullivan | Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

He persevered through the brutal all-nighters, the perplexing spreadsheets, and the temperamental bosses who walked the halls of the midtown Manhattan investment firm. At Apollo, executives tend to grow up quickly. Some of their former colleagues have tried to make more money elsewhere, such as the hedge funds run by billionaire personalities that Apollo's executives quietly root against. Associates sometimes dealt with burnout from heavy workloads and demanding bosses by escaping for a walk through Central Park to let off steam, according to the former firm associates. We're Rayman Apollo!'"

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