Joshua Harris (businessman)
|Joshua "Josh" Harris|
1965 (age 49–50)
|Alma mater||University of Pennsylvania
Harvard Business School
|Occupation||Investor, Sports Team Owner|
|Known for||Owner of the New Jersey Devils, Philadelphia 76ers and co-founder of private equity firm Apollo Global Management|
|Net worth|| US $ 2.1 billion
Joshua "Josh" Harris (born 1965) is an American private equity investor who co-founded Apollo Global Management, one of the world's largest alternative investment firms. Harris is also the principal owner of the New Jersey Devils of the National Hockey League and the Philadelphia 76ers of the National Basketball Association.
Early life and education
Harris was born to a Jewish family in 1965. He was raised in Chevy Chase, Maryland. Harris is a graduate of the Wharton School of the University of Pennsylvania, and received his MBA from the Harvard Business School. He wrestled in college.
He worked at Drexel Burnham Lambert before co-founding Apollo Global Management with fellow Drexel alumnus Leon Black and Marc Rowan in 1990. He is currently one of three managing partners of Apollo, along with Black and Rowan. As of 2011, his estimated net worth was $1.5 billion.
Harris is the managing partner of an investment group 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 are: David S. Blitzer of the private equity firm Blackstone Group and portfolio manager Art Wrubel, both fellow Wharton School of the University of Pennsylvania graduates, as well as former NBA agent and Sacramento Kings executive Jason Levien, former Vail Resorts CEO Adam Aron, Martin Geller, David Heller, Travis Hennings, James Lassiter, Marc Leder, Michael Rubin, Will Smith & Jada Pinkett Smith, and Indonesian businessmen Handy Soetedjo & Erick Thohir. Comcast-Spectacor and Harris began talks in the summer of 2011. The deal was announced on July 13, 2011. The NBA formally approved the deal on October 13.
On August 15, 2013, it was announced that a group led by Harris and partner David Blitzer purchased a majority stake in the New Jersey Devils of the NHL, which includes the rights to operate Prudential Center arena in Newark, New Jersey. The transaction was reportedly for over $320 million. Harris and Blitzer are rumoured 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's biggest club, currently of the Premier League, Crystal Palace.
- Forbes: The World's Billionaires - Joshua Harris March 2013
- Forbes Israel: Jewish Billionaires - Profile of Joshua Harris April 14, 2013 (in Hebrew)
- Philadelphia Inquirer: "Those who know him say Joshua Harris, soon-to-be Sixers owner, lives for competition and success" By Kate Fagan August 02, 2011
- Abbott, Henry. Sources: 76ers sales talks ongoing. ESPN, 2011-06-26.
- DiStefano, Joseph. Would-be Sixers owner Harris' Philly ties. The Philadelphia Inquirer, 2011-06-26.
- Biography at Apollo Global Web site
- ESPN: "Group led by Joshua Harris completes purchase of Sixers" October 18, 2011
- Sale of 76ers to Joshua Harris finished. ESPN, 2011-07-13.
- Group led by Joshua Harris completes purchase of 76ers. Philadelphia 76ers, 2011-10-13.
- "Devils announce sale of team to billionaire Josh Harris". The Star-Ledger. August 15, 2013.
- Wharton Magazine: "The Private-Equity Diaries" January 26, 2012
- Legacy.com: "ALBERT RUBIN" January 5, 2012