Money to Burn by William D. Cohan

Money to Burn examines the rise of Leon Black and Apollo Global Management, tracing their origins to the collapse of Drexel Burnham Lambert and the junk-bond era of the late 1980s. William D. Cohan follows Apollo's growth in private equity and private credit, its major deals, internal power struggles, and the enormous financial returns that helped reshape modern Wall Street. The book also examines Black's departure from Apollo in 2021 and the controversies surrounding his business and personal relationships, including his dealings with Jeffrey Epstein. Drawing on interviews and extensive reporting, Cohan presents the story as both a biography of Black and an account of how Apollo became a major force in global finance.