Leon Black Testifies Before Congress on $158 Million in Epstein Payments

Billionaire investor Leon Black appeared before the House Oversight Committee on Friday to address his financial dealings with Jeffrey Epstein, the deceased sex offender who created a vast network exploiting minors between 2002 and 2005. Black, co-founder and former chief executive of private equity firm Apollo Global Management, stepped down from his role in 2021 following public scrutiny over his ties to Epstein. An internal Apollo investigation found that Black paid Epstein approximately $158 million between 2012 and 2017—after Epstein pleaded guilty in 2008 to soliciting prostitution from a minor—with Black's representatives claiming the payments were for legitimate tax advice, estate planning, and wealth management services.

Senator Ron Wyden and House Democrats have demanded comprehensive explanations for the unusually large sums, citing what Wyden described as Black's "significant personal and financial entanglements" with Epstein. Wyden stated in recent correspondence that Black "stonewalled repeatedly" when asked for answers and has not provided a credible explanation for why he paid Epstein vastly more than other professional advisors involved in similar services. Documents released under the Epstein Files Transparency Act show that Epstein was intimately involved in Black's personal affairs, including advising him on a nondisclosure agreement related to a former Russian model with whom Black had a six-year affair. In one email, Epstein suggested Black hire former law enforcement officers to deliver terms of the agreement, and the documents show Black discussed the matter with only Epstein and a private investigator.

Black's legal team has maintained that the released files contain "no credible evidence that Mr. Black was aware of, or involved with, Mr. Epstein's then-ongoing criminal activities." The internal investigation concluded that Black "genuinely believed that Epstein was extremely smart, capable, and saved him substantial amounts of money." However, Black was featured prominently in the Epstein files and appears in birthday messages released by the House committee, including a poem attributed to him with sexual references. Epstein was indicted in July 2019 on federal sex trafficking charges and died by suicide in a New York jail cell in 2019 while awaiting trial.

Black is among numerous high-profile figures to testify before the House Oversight Committee's investigation into Epstein's network. Microsoft co-founder Bill Gates testified earlier in June, stating he made a "grave error in judgment" by meeting with Epstein. Other figures who have appeared include former President Bill Clinton, former Secretary of State Hillary Clinton, Commerce Secretary Howard Lutnick, and former Attorney General Pam Bondi. The committee is also expected to interview former Goldman Sachs executive Kathy Ruemmler, Harvard law professor Alan Dershowitz, and former JPMorgan Chase executive Jes Staley in coming weeks.