How did Josh Harris get so Rich? [Net Worth 2023]

Josh Harris is a prominent American businessman and investor best recognized for his work in finance and sports. His fortune was mostly amassed through numerous business operations and investments. Here are some of the major causes that contribute to his wealth:

1. Private Capital: In 1990, Josh Harris co-founded Apollo Global Management, a private equity business. Private equity is the practice of investing in private enterprises with the intention of enhancing their financial performance and then selling them for a profit. Apollo Global Management has been involved in a number of successful transactions, which has greatly added to Harris’ wealth.
2. Investments: Harris has made personal investments in a variety of areas, including technology, media, and sports, in addition to his job at Apollo. Over the years, these investments have produced large returns.
3. Ownership of Sports: Josh Harris has also made investments in professional sports organizations. His notable investments include the Philadelphia 76ers of the National Basketball Association (NBA) and the New Jersey Devils of the National Hockey League (NHL). Owning a sports club can be profitable, particularly if the team performs well and generates cash from ticket sales, merchandise, and television rights.
4. Real Estate: Harris has made real estate investments, including in luxury buildings and development projects. Real estate investments can increase in value and generate rental income, increasing his wealth.
5. Other Projects: Josh Harris has been involved in a number of other initiatives over the years, including the purchase of the New York Daily News and investments in digital startups. These investments and business enterprises have added to his overall wealth.

Famous quotes of Josh Harris

Here are a few notable statements attributed to him:

1. On Entrepreneurship and Risk:
   “Being an entrepreneur is about being able to take an idea and create an economic engine around it, and so that requires some risk-taking.”
2. On Investing:
   “I think the key in investing is to have a diversified portfolio. When things get ugly, you need to have assets that are uncorrelated to traditional investments.”
3. On the Importance of Teamwork:
   “I’ve learned over time that it’s really important to surround yourself with a team of people who can help you execute your vision.”
4. On Owning Sports Teams:
   “Owning sports teams is about providing entertainment to the fans. It’s about trying to win championships and make the fans happy.”
5. On Leadership:
   “Leadership is about setting a vision, setting a strategy, and then empowering your team to execute that strategy.”

Lesser-Known facts about Josh Harris

While Josh Harris is well-known for his success as a businessman and investor, the following are some lesser-known facts about him that shed light on his life and career:

1. Educational History: Josh Harris has an MBA from Harvard Business School, which is sometimes overlooked while discussing his career. His education was most likely crucial in creating his financial acumen and investment techniques.
2. Initial Career: Harris worked at Drexel Burnham Lambert, a famous investment firm in the 1980s, before co-founding Apollo Global Management. This early exposure to the financial world is likely to have supplied him with useful ideas and connections.
3. Sports Interest: Josh Harris has a true enthusiasm for sports, in addition to owning sports clubs such as the Philadelphia 76ers and the New Jersey Devils. He has actively participated in team decision-making and has invested in boosting their performance and fan experience.
4. Charitable giving: Harris has been active in a number of charitable endeavors. He and his wife, Marjorie Harris, have given to charities such as education, healthcare, and community development. Their charitable contributions frequently garner less public attention than their business ventures.
5. Media Ownership: Josh Harris and a group of businessmen once bought the New York Daily News, a famous newspaper. While this endeavor did not result in long-term ownership, it did demonstrate his interest in media and journalism.
6. Technology Interest: Harris has made investments in technology businesses and is interested in the technology industry. This expansion of his investments beyond traditional finance and sports illustrates his desire to venture into new areas.
7. Dedication to Diversity: Harris has been vocal about the significance of diversity and inclusion in the sports industry as owner of the Philadelphia 76ers. He has been an outspoken supporter of social justice projects and has worked to improve diversity inside the company.

These lesser-known facts give a more complete picture of Josh Harris than his financial success and sports ownership. They demonstrate his wide range of interests and involvement in business and philanthropy.

What companies does Josh Harris own?

Josh Harris, a notable businessman and co-founder of Apollo Global Management, was involved in the ownership and investment of various firms. Here are some of the major firms and assets that Josh Harris was affiliated with at the time:

1. Apollo Global Management: Josh Harris is one of the co-founders of Apollo Global Management, a renowned private equity investment firm. While he is not the sole owner, he has played an important part in the company’s leadership and decision-making.
2. 76ers of Philadelphia: Harris is the majority owner of the Philadelphia 76ers of the National Basketball Association (NBA). In 2011, he and his group of investors purchased the squad.
3. The New Jersey Devils: Josh Harris is also a part-owner of the National Hockey League (NHL) team the New Jersey Devils. In 2013, he and his partners purchased the team.
4. Crystal Palace Football team: In 2015, Harris and his business partner, David Blitzer, purchased a share in Crystal Palace, an English Premier League football team.
5. Harris Blitzer Sports & Entertainment (HBSE): Harris and David Blitzer founded Harris Blitzer Sports & Entertainment (HBSE), a sports and entertainment organization that manages their various sports-related investments, which include the 76ers, Devils, and Crystal Palace.
6. The New York Daily News: Harris and his group of partners once bought the New York Daily News, a significant newspaper. They did, however, sell the publication later on.
7. Investments in Technology: Josh Harris has also invested in a number of technological businesses and enterprises, displaying his interest in the field.

What is Josh Harris net worth?

Josh Harris’s estimated net worth was in the range of $6.8 billion dollars.

What philanthropic initiatives Josh Harris is involved in?

Josh Harris and his wife, Marjorie Harris, have been active in a number of charitable endeavors throughout the years. They have contributed to a variety of causes, including:

1. Education: The Harris family has given generously to educational institutions. They have supported educational projects and scholarship programs with the goal of providing underserved populations with access to high-quality education.
2. Medical Care: The Harrises have donated to healthcare causes such as medical research and facilities. Their contributions have helped to improve healthcare services and advance medical understanding.
3. Development of the Community: They have also participated in community development projects, helping to improve the well-being of local communities. This might include money for infrastructure upgrades and community programming.
4. Youth Empowerment: Josh Harris is interested in youth empowerment and education. Their charitable contributions may include projects aimed at strengthening young people through mentorship and educational opportunities.
5. Social Justice: The Harrises have been involved in programs promoting social justice, equality, and inclusion, in keeping with their ownership of the Philadelphia 76ers and the greater sports industry’s attention on social justice problems.
6. Other Charitable Purposes: The Harrises, like many philanthropists, may support a variety of additional philanthropic initiatives based on their personal interests and objectives. Arts and culture, environmental conservation, and disaster aid are examples of such causes.

What are some real stories of Josh Harris leadership?

These examples demonstrate different characteristics of his leadership style:

1. Around the Philadelphia 76ers: When Josh Harris and his group of investors bought the Philadelphia 76ers in 2011, the organization was struggling both on the court and financially. Harris was instrumental in reforming the company. Under his direction, the 76ers went through a lengthy rebuilding process known as “The Process.” This entailed selecting players strategically, recruiting strong executives, and investing in player development. The team finally became a postseason challenger, showcasing Harris’ long-term vision and dedication to success.
2. Analytics Investment: Harris integrated analytics and sophisticated statistics into the 76ers’ decision-making process. This analytical approach to player evaluation and team planning represented a significant shift in the NBA and proved his readiness to accept new techniques of success.
3. Social Justice Advocacy: Following a surge in social justice activism in the NBA and society at large, Harris and the 76ers took the lead in fighting for social justice causes. The team got involved in a variety of community events and used its platform to raise awareness about topics like racial inequity and police brutality. This proved Harris’ dedication to using his position in sports to effect positive social change.
4. Control of the New Jersey Devils: When Harris and his company bought the New Jersey Devils in 2013, they worked hard to improve the team’s financial status and performance. This displayed his professional hockey leadership as well as his capacity to oversee various sports teams at the same time.
5. Leadership in Philanthropy: While philanthropy is not usually linked with sports club ownership, Harris and his wife, Marjorie Harris, have been involved in a number of humanitarian endeavors. Their philanthropic leadership demonstrates their dedication to making a positive difference in their neighborhood and beyond.

These stories highlight Josh Harris’s sports management leadership, his willingness to make strategic and often unconventional decisions, and his commitment to creating change and success both on and off the court.

What are some controversies Josh Harris is involved in?  

Josh Harris has been involved in a number of controversies and critiques, most notably those relating to his ownership of sports teams and commercial ventures. Here are a sampling of the conflicts and criticisms that have previously been associated with Josh Harris:

1. Believe in the Process Criticism: The “Trust the Process” policy was one of the most contentious issues surrounding Josh Harris during his ownership of the Philadelphia 76ers. While it ultimately contributed to the team’s success, the purposeful practice of losing games in order to gain high draft picks was widely criticized as tanking, which some said compromised the NBA’s legitimacy. This method, according to critics, was detrimental to the league’s competitive balance.
2. Employee Treatment: The Philadelphia 76ers were chastised in 2020 for their handling of employees during the COVID-19 pandemic. The team initially announced compensation cuts for several staff, which sparked public outrage. This decision was ultimately reversed, but it sparked concerns about the treatment of non-athlete staff workers.
3. Fan Interactions: At various moments throughout Josh Harris’ ownership, certain Philadelphia 76ers supporters have expressed unhappiness with the team’s communication and decision-making. Concerns include ticket pricing, venue upgrades, and the team’s marketing and fan interaction strategy.
4. Sports Betting and Gambling: Harris’s involvement in sports betting and gambling, including ownership of a stake in a sports betting company, has drawn scrutiny and raised concerns about potential conflicts of interest and the ethical implications of professional sports betting partnerships.
5. Control of Several Sports Teams: The ownership of numerous professional sports teams, such as the Philadelphia 76ers, New Jersey Devils, and Crystal Palace, has sparked debate over the potential impact on the competitive balance and priorities of these organizations. Some critics say that owning numerous teams can result in conflicts of interest when allocating money and attention.

What can you learn from Josh Harris?

Josh Harris’s career and activities can teach us some significant lessons and insights:

1. Entrepreneurial Drive: Josh Harris’s success began with the establishment of Apollo Global Management. His business drive shines through, as does his willingness to take calculated risks. A crucial takeaway can be learning to recognize opportunities and chase them with zeal.
2. Innovation and Adaptability: Harris’ willingness to embrace analytics and innovative sports ownership tactics (e.g., “The Process” in the NBA) highlights the necessity of being adaptive and open to new techniques, even in conventional sectors.
3. Long-Term Vision: Although contentious at the time, the Philadelphia 76ers’ rebuilding process demonstrated the importance of having a long-term vision and the patience to see it through. Short-term sacrifices for long-term advantages are often required for success.
4. Sports Leadership: Harris’s success in the sports sector demonstrates the need of good leadership and community involvement in sports ownership. It serves as a reminder of the greater impact that sports organizations can have on society.
5. Charitable giving: The Harrises’ involvement in charitable initiatives emphasizes the significance of giving back to the community and supporting organizations that correspond with your values. Philanthropy can be an effective approach to make a good difference outside of your profession.
6. Diversification: Harris’s investments range from banking to sports and technology. Diversifying your investments and interests can assist to reduce risk while also opening up new opportunities.
7. Dedication to Social Justice: Josh Harris’s support for social justice causes through his sports ownership highlights the power of influential persons to use their platform for good.
8. Building a Team: Building a winning team is essential in both business and sports. Harris’ ability to bring together brilliant individuals, both in the boardroom and on the court/ice, demonstrates the value of team dynamics.
9. Handling Disputes: In high-profile roles, controversies and criticism are common. It is a useful talent to learn how to approach, learn from, and potentially resolve controversies.
10. continual Learning: Harris’ journey from Drexel Burnham Lambert to co-founding a private equity behemoth exemplifies the value of continual learning and professional development.