Money, Hubris and Jeffrey Epstein: The Fall of Leon Black, w/ William Cohan
Summary
Kara Swisher interviews Puck journalist Bill Cohen about his book *Money to Burn*, which examines Apollo Global Management’s evolution and founder Leon Black’s controversial ties to Jeffrey Epstein. Cohen details Black’s rise through distressed debt, the firm’s shift to private credit, and the scrutiny surrounding Black’s $158 million payments to Epstein. The discussion also covers current Wall Street risks, including an AI investment bubble and Meta’s recent settlement over teen social media addiction.
Topics discussed
Intro: Wall Street's current boom and Bill Cohen's new book
Sponsor: Odu business management software
Leon Black's background and Apollo's unique structure
Black's father's suicide and entry into finance
Michael Milken, Drexel, and the junk bond era
The rise of private credit and the 'New Wall Street'
Sponsor: Odu business management software
Leon Black's relationship with Jeffrey Epstein
Political fallout and congressional investigations
Book insights and Black's current status
AI bubble fears and SpaceX IPO risks
Meta's $17B social media addiction settlement
Trade war with Canada and bond market warnings
Athene insurance and private credit risks
Ken Griffin and closing thoughts
Listen ad-free on Castria