Leon Black, the former chief executive of Apollo Global Management, informed a congressional panel that he paid US$21 million to a woman who he claimed had blackmailed and extorted him.
The billionaire investor stated during a voluntary interview with the US House Oversight Committee on June 26 that the payment was made to a former partner with whom he had an affair, after she initially demanded US$100 million, alleging he had “ruined her life.”
Black’s testimony forms part of the legislature’s broader inquiry into the late convicted sex offender Jeffrey Epstein. A transcript of the session was made public on Friday.
Black noted that he had consulted Epstein—who handled aspects of his estate planning—regarding the financial settlement. The private equity figure, who structured the payout across 15 years, accepted that the sum was substantial in return for a nondisclosure agreement covering the relationship.
“I had a wife and children and was the chair of a public company,” Black said. “I agree with you it was a lot of money. It was a lot less than the US$100 million that she started with. And I viewed it as total blackmail and extortion but didn’t want it to be public, and so we negotiated a settlement.”
The identities of the women bound by Black’s confidentiality agreements were withheld in the transcript. The initial US$100 million figure aligns with a demand made in 2015 by Black’s former mistress, Guzel Ganieva.
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