Josh Harris: Billionaire Investor on Identifying Opportunities Where Others Panic | SALT Talks #20 | Summary and Q&A

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July 8, 2020
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Josh Harris: Billionaire Investor on Identifying Opportunities Where Others Panic | SALT Talks #20

TL;DR

Josh Harris, co-founder of Apollo Global Management and owner of various sports franchises, discusses his background, investment strategies, and philanthropic endeavors.

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Questions & Answers

Q: How did Josh Harris get started in finance and sports ownership?

Harris grew up in a non-traditional finance background, with his father being an orthodontist. He developed an interest in economics during college and began working at Drexel Burnham Lambert, where he met Leon Black and joined Apollo Global Management.

Q: How has the current health and economic crisis impacted private equity deals?

Harris believes that sectors such as travel, hotels, entertainment, and venues have been heavily impacted by the pandemic. However, he remains bullish on the long-term prospects of these sectors and sees opportunities in distressed investments.

Q: How does Harris approach building successful sports franchises?

Harris emphasizes the importance of having the best people, unique strategies, and a strong culture. He focuses on innovations in sports science, analytics, and player recruitment to gain a competitive edge.

Q: What are some key insights from Josh Harris's experience as a sports owner?

  • Philanthropy is a key component of sports ownership, with a focus on community development and youth programs.

  • Sports franchises have a significant social impact and the ability to inspire change.

  • Building successful teams requires a combination of talent, innovation, and a strong organizational culture.

  • The COVID-19 pandemic has created challenges for sports franchises, but Harris remains optimistic about the long-term future of the industry.

Summary & Key Takeaways

  • Josh Harris grew up in Chevy Chase, Maryland and developed a passion for finance and sports.

  • He co-founded Apollo Global Management, one of the largest alternative investment firms in the world.

  • Harris is also involved in sports ownership, managing teams such as the Philadelphia 76ers, New Jersey Devils, and Crystal Palace Football Club.

  • He emphasizes the importance of philanthropy and is involved in initiatives focused on sports, wellness, and community development.

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