Josh Harris, with a net worth estimated at over $9 billion, is a highly successful businessman and investor known for his work in private equity and professional sports ownership.
As one of the co-founders of Apollo Global Management, a private equity firm launched in 1990, Harris played a pivotal role in growing the firm into one of the largest and most influential investment firms globally.
Over the years, Apollo has amassed billions in assets under management, contributing significantly to Harris’s wealth.
Harris’s foray into the sports world began in 2011, when he became a prominent owner in the NBA as part of an investor group that purchased the Philadelphia 76ers. Since then, he has expanded his portfolio to include other high-profile sports teams.
Notably, in 2023, Harris led another investor group that purchased the Washington Commanders NFL team for a staggering $6.05 billion.
This acquisition set a new record as the highest price ever paid for any North American sports franchise, surpassing previous deals for NFL teams like the Denver Broncos.
The Commanders deal is particularly significant as it underscores Harris’s deep involvement in the rapidly appreciating sports industry, where the value of teams continues to soar.
Beyond the 76ers and Commanders, Harris also has a significant stake in the New Jersey Devils, an NHL franchise.
His diverse portfolio of sports investments makes him one of the few individuals to own teams in multiple major leagues simultaneously, spanning the NFL, NBA, and NHL.
Harris has stated that he expects to see more private equity deals for sports teams in the future as the industry continues to evolve, making his approach to team ownership one to watch for other investors.
In addition to his sports ventures, Harris’s wealth is also tied to his leadership role at Apollo Global Management.
Through Apollo, he has been involved in numerous high-profile investments across various sectors, including real estate, energy, and finance.
His diversified portfolio of investments has played a crucial role in growing his net worth to over $9 billion, making him one of the wealthiest figures in the sports ownership and investment world.
Harris’s approach to ownership has been described as unorthodox and forward-thinking.
For example, when he took over the Washington Commanders, he made a splash by buying free beers for local fans in an effort to create goodwill and build a connection with the community.
This unique, fan-focused gesture highlights his desire to not only be a successful businessman but also to positively impact the fan experience and the legacy of the teams he owns.
With the increasing value of sports franchises, Harris’s net worth is likely to continue growing, as more investors see the financial potential in owning professional sports teams.
His diverse business interests, innovative approach to sports ownership, and significant investments in multiple sectors make him a notable figure in the world of business and sports.
