Leon Black Oversees $1 Billion Wealth Shift For Apollo Fortune

Leon Black barely touched his stake in Apollo Global Management Inc. during the decades he turned the firm into a buyout giant and became one of Wall Street’s richest billionaires.

That’s changed following his departure from the New York-based firm.

The Apollo co-founder has sold or gifted 9.1 million shares of his multibillion-dollar stake since January, the most in a calendar year since the private equity firm went public more than a decade ago, according to data compiled by Bloomberg from regulatory filings.

Debra and Leon Black

Photographer: Amanda Gordon/Bloomberg

Black, 72, parted with the latest chunk last month, donating a $118.4 million stake to a ...