Marc Rowan Explained

Marc Rowan
Birth Date:19 August 1962
Education:University of Pennsylvania (BS, MBA)
Known For:Co-founder and CEO, Apollo Global Management
Spouse:Carolyn Pleva
Children:4

Marc Jeffrey Rowan (born August 19, 1962) is an American investor and philanthropist.[1] He has served as the chief executive officer (CEO) of Apollo Global Management since 2021. He co-founded the firm in 1990 with Josh Harris and Leon Black., Forbes estimated his net worth at $8.8 billion.[2]

Early life and education

Rowan was born in 1962 to a Jewish family.[3] [3] He was raised on Long Island, New York.[4] He moved with his family to Hollywood, Florida where he attended high school, traveling between New York. His father worked in auto-leasing. His mother Barbara was a teacher and a trained concert pianist.[5] He has one sister, Andrea.[6] His grandfather, Emanuel Stein, was an economics professor at New York University. Many of his wider family worked as public interest lawyers.[7]

Rowan studied at the University of Pennsylvania. When his father passed away and the family could not afford to pay tuition, the university allowed Rowan to complete his studies and pay whenever he was able. Rowan graduated summa cum laude with a B.S. and an MBA from the Wharton School of the University of Pennsylvania.[8] He was first in his university class, graduating as valedictorian.[7]

Career

Rowan joined the mergers and acquisitions department of Drexel Burnham Lambert where he worked in New York City and Los Angeles.[9] The firm collapsed in 1990. In 1990, Rowan co-founded the asset management firm Apollo Global Management with former Drexel colleagues Leon Black and Josh Harris.[10]

In July 2020 Rowan took a "semi-sabbatical" from Apollo, but remained involved in strategy and on boards, until taking over as CEO in March 2021.[11] [12] [13] He intended to focus in areas including strategy and culture.[14]

Philanthropy

Rowan is Chair of the Board of UJA-Federation of New York.[15] He is a founding member and Chair of the Youth Renewal Fund[16] and is Vice Chair of Darca Schools.[17]

University of Pennsylvania

Rowan has had various involvements with the University of Pennsylvania since his graduation. He is Chair of the Board of Advisors of the Wharton School of Business.[18] [19] In October 2018, he donated $50 million to the Wharton School, to fund leading academics and with a focus on the Penn Wharton Budget Model.[20] [21] In December 2023, Rowan led a campaign among University of Pennsylvania donors to have University of Pennsylvania then-President Liz Magill and the then-Board of Trustees Scott Bok fired over what he saw as the university's insufficient response to antisemitism after the 2023 Hamas-led attack on Israel.[22] [23] [24]

As a result of the 2023 Palestine Writes conference held at University of Pennsylvania, Rowan attempted to organize a boycott of donors and signed a letter urging a response to alleged antisemitism at the festival.[25] [26] Rowan advocated for the resignation of Liz Magill, due to reactions from the 2023 United States Congress hearing on antisemitism.[27] [28] After the resignation, Rowan penned a letter suggesting various campus reforms. Some professors at the university called the suggested reforms "a hostile Republican takeover," that would negatively affect intellectual freedom on campus.[29]

Politics

In December 2023, Rowan hosted a fundraiser for Republican politician and House Education Committee Chair Virginia Foxx.[30] Together with his spouse, Rowan contributed $1million to Donald Trump's 2020 presidential campaign.[31]

U.S. Treasury secretary nomination

In November 2024, following the 2024 U.S. presidential election, Rowan was interviewed for the U.S. Treasury Secretary nomination by President Trump.[32] Shares of Apollo fell on the announcement, according to Barrons, as Rowan owns 6% of outstanding Apollo stock and could be required to divest if nominated and confirmed.[33] [34]

Personal life

Rowan is married to fashion designer Carolyn Pleva who he met on a blind date.[35] [36] They live in New York City and have four children. Rowan is a restaurateur who owns multiple eateries in The Hamptons.[37] [38] [39]

External links

Notes and References

  1. U.S. Public Records Index, Vols. 1 & 2 (Provo, UT: Ancestry.com Operations, Inc.), 2010.
  2. Web site: November 21, 2024 . Marc Rowan: Real Time Net Worth . live . November 21, 2024 . Forbes . en.
  3. http://jeconline.com/media/video/marc-rowan-0 Jewish Enrichment Center: Marc Rowan Guest Speaker
  4. Web site: Ensign . Rachel Louise . 2023-12-23 . The Billionaire Donor Taking On His Alma Mater Over Antisemitism . WSJ . en-US.
  5. http://www.legacy.com/obituaries/herald/obituary.aspx?pid=171423901 Miami Herald: "Barbara J. Rowan Obituary
  6. http://www.legacy.com/obituaries/nytimes/obituary.aspx?pid=171447482 New York Times: "BARBARA ROWAN Obituary"
  7. https://www.economicclub.org/sites/default/files/transcripts/economic_club_marc_rowan.pdf
  8. Forbes. Forbes Profile: Marc Rowan. 2024-04-23. https://web.archive.org/web/20240423065048/https://www.forbes.com/profile/marc-rowan/. April 23, 2024.
  9. http://jeconline.com/media/video/marc-rowan-0 Jewish Enrichment Center: Marc Rowan Guest Speaker
  10. Web site: Oguh . Chibuike . Apollo's Rowan says accepted CEO role 'for the opportunity' . 28 June 2023 . Reuters.
  11. https://www.bloomberg.com/news/articles/2020-07-31/rowan-s-apollo-break-leaves-time-for-his-hamptons-side-hustle?utm_source=twitter&utm_content=business&utm_medium=social&utm_campaign=socialflow-organic&cmpid=socialflow-twitter-business
  12. Web site: Apollo’s AUM crosses $400bn as Rowan takes ‘semi-sabbatical’ . Isobel . Markham . July 30, 2020.
  13. News: McNeeley . Allison . August 1, 2023 . In Marc Rowan Era, Apollo Is Working to Shed Its Ruthless Image . Bloomberg News . subscription . https://archive.today/20230803144404/https://www.bloomberg.com/news/articles/2023-08-01/apollo-tries-to-shed-ruthless-private-equity-image-in-marc-rowan-era . August 3, 2023 . live.
  14. https://www.reuters.com/article/us-apollo-global-ceo-idUSKBN2AO2XF/
  15. Web site: Our Leadership . 2023-10-26 . UJA-Federation of New York . en.
  16. Web site: Youth Renewal Fund Board . 2023-10-26 . Youth Renewal Fund . en-US.
  17. Web site: Board of Directors . 2023-10-26 . Darca . en-US.
  18. Web site: Board of Advisors . 2024-04-02 . Wharton Executive Boards . en-US.
  19. http://www.agm.com/OurTeam/Corporate_Leadership/MarcRowan.aspx Apollo Global Management website: Our Team - Marc Rowan
  20. Web site: The Beltway’s Favorite Bogus Budget Model. Jarod. Facundo. April 10, 2023. The American Prospect.
  21. News: Gordon. Amanda L. Apollo's Marc Rowan Gives Wharton $50 Million for Professorships. Bloomberg. 2 October 2018 . 2019-02-01. subscription. https://archive.today/20240303223830/https://www.bloomberg.com/news/articles/2018-10-02/apollo-s-marc-rowan-gives-wharton-50-million-for-professorships. March 3, 2024. live.
  22. News: Ensign. Rachel Louise. The Billionaire Donor Taking On His Alma Mater Over Antisemitism. November 3, 2023. Wall Street Journal. subscription. https://archive.today/20240107161614/https://www.wsj.com/us-news/education/the-billionaire-donor-taking-on-his-alma-mater-over-antisemitism-2d1637cd. January 7, 2024. live.
  23. Web site: Saul. Stephanie. Who Decides Penn's Future:Donors or the University. October 26, 2023. The New York Times.
  24. Web site: Bunch . Jesse . 2023-12-21 . Penn donors are hosting a fundraiser for the representative who called on Magill to testify . Philadelphia Inquirer . en.
  25. Web site: Tkacik . Maureen . 2023-10-21 . The Moral Authority of Marc Rowan . 2024-10-11 . The American Prospect . en-us.
  26. Web site: Wang . Dedeepya Guthikonda, Diamy . Multiple Penn trustees sign letter to Magill demanding stronger response to Palestine Writes uproar . 2024-10-11 . www.thedp.com . en-us.
  27. News: Korn . Melissa . Loftus . Peter . 12 December 2023 . Penn Changes Leaders, Now Comes the Hard Part . Wall Street Journal.
  28. Web site: Korn . Melissa . Louise Ensign . Rachel . Belkin . Douglas . 11 December 2023 . How Rich Alumni Ousted Penn’s President Liz Magill . Wall Street Journal.
  29. Web site: Wang . Diamy . ‘A hostile Republican takeover’: Penn faculty warn of academic freedom threats after Marc Rowan letter . 2024-10-11 . www.thedp.com . en-us.
  30. Web site: Mitovich . Jared . 2023-12-23 . Critical Penn donors to host fundraiser for House Republican who brought Magill before Congress . www.thedp.com . en-us.
  31. Web site: Here Are The Billionaires Who Donated To Donald Trump's 2020 Presidential Campaign . 27 March 2024 . Forbes.
  32. News: Chávez . Steff . 2024-11-21 . Donald Trump narrows in on Marc Rowan for Treasury secretary . 2024-11-22 . Financial Times.
  33. Web site: Light . Joe . November 20, 2024 . Apollo Global Shares Fall as CEO Marc Rowan Considered for Trump Treasury Job . November 20, 2024 . Barron's.
  34. Web site: Castillo . Michael del . November 21, 2024 . If Trump appoints Apollo CEO Marc Rowan as Treasury Secretary, he'd have direct influence over $24 trillion private equity market . November 21, 2024 . Fortune . en.
  35. http://observer.com/2013/01/a-brutal-buy-billionaire-marc-rowan-pays-26-m-for-brutalist-masterpiece-at-927-fifth/ New York Observer: "A Brutal Buy: Billionaire Marc Rowan Pays $26 M. for Brutalist Masterpiece at 927 Fifth" By Kim Velsey
  36. https://query.nytimes.com/gst/fullpage.html?res=9400E4DB143AF934A25756C0A9679D8B63 New York Times: "Paid Notice: Deaths PLEVA, EUGENE
  37. Web site: Tully . Shawn . October 28, 2023 . Apollo CEO Marc Rowan has a secret side gig: 'It took me a year to realize that I was in the restaurant business' . subscription . live . https://web.archive.org/web/20231101174950/https://fortune.com/2023/10/28/wall-street-pursuits-marc-rowan-apollo-restaurants/ . November 1, 2023 . Fortune.
  38. Web site: Maloney . Tom . Perlberg . Heather . July 31, 2020 . Rowan's Break from Apollo Leaves More Time for His Hamptons Restaurants . subscription . live . https://archive.today/20220801084727/https://www.bloomberg.com/news/articles/2020-07-31/rowan-s-apollo-break-leaves-time-for-his-hamptons-side-hustle . August 1, 2022 . Bloomberg News.
  39. Web site: A billionaire bought a lobster shack in the Hamptons. Then the trouble began. . The Financial Times.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Marc Rowan".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2025, A B Cryer, All Rights Reserved. Cookie policy.