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Billionaire Josh Harris, co-founder of Apollo Global Management, is buying a $32 million Miami mansion at 2060 N. Bay Road in an off market deal, sources tell Gimme exclusively.
The purchase is yet another sign that Harris is on his way out at Apollo, business sources say.
The news comes as Apollo rides rising markets to a record $1.5 billion in earnings, and with the announcement that it is buying Verizon’s media assets for $5 billion.
Harris helped push Apollo’s scandal-scarred co-founder Leon Black out of his leadership role at the private equity firm, following damaging reports that Black paid $158 million to the pedophile sex offender Jeffrey Epstein, who was found dead in jail in 2019.
But Harris no longer runs day to day operations at Apollo and fellow co-founder Marc Rowan has been named the new CEO of the firm.
Harris “will be out in six months,” an insider tells Gimme.
The Miami home purchase is an indication that Florida may become Harris’s primary residence, which would significantly reduce his taxes if he cashes out of Apollo, sources said.
An Apollo spokesperson, however, noted that the firm is opening offices in South Florida. In addition, on Thursday’s earnings call, Marc Rowan called Harris “an active and productive and senior member of the Apollo team.”
His new, Mediterranean-style villa, built in 2005, is a spacious 9,363 square feet. It features nine bedrooms, nine bathrooms and lots of indoor/outdoor entertaining spaces — all on just 0.61 landscaped acres.
The property includes a large courtyard with fountains and a covered deck, connecting the main house to a modern-style guest house.
The interior of the main house has a rotunda staircase, high ceilings, arched doors and windows, multiple fireplaces — and a roof deck. There’s also a formal dining room, a chef’s kitchen, a gym, office and lots of water views.
The property also boasts a pool and a basketball court.
The seller is Marcelo Claure, the CEO of SoftBank Group International, who oversees SoftBank with CEO Masayoshi Son, and is in charge of companies like Sprint and WeWork.