[3] From 1977 to 1990, Black was employed by investment bank Drexel Burnham Lambert, where he rose to managing director and head of the Mergers & Acquisitions Group, and co-head of the Corporate Finance Department.
[11] In 2009, Black contributed $60 million in a settlement with Huntsman Corporation after Apollo was sued for backing out of a merger the previous year.
[13][14][15] In 2022, Black included Josh Harris in a civil Racketeer Influenced and Corrupt Organizations (RICO) lawsuit, alleging that he led a group within Apollo attempting to tarnish his reputation after his ties to Epstein were reported.
[3][4] His term as chairman ended on July 1, 2021, and he did not seek re-election, in the wake of protests from dozens of artists and activists over his financial ties to convicted sex offender Jeffrey Epstein.
[31] In October 2020, Black requested that the Apollo board conduct an independent review of his relationship with Epstein, and it retained the law firm Dechert LLP to do so.
[39] In July 2023, the U.S. Senate Finance Committee made public that it is investigating Black's tax strategies and dealings with Epstein.
[40] In March 2021, Guzel Ganieva claimed in a series of tweets that "I was sexually harassed and abused by [Black] for years [and ultimately] forced to sign a non-disclosure agreement under duress".
[48] On July 25, 2023, a lawsuit was filed against Black, alleging that he raped a 16-year-old girl with autism and Down syndrome in Epstein's Manhattan townhouse in 2002.
[55] In June 2013, it was revealed that Black had purchased Head of a Young Apostle, an 11-inch-wide (28 cm) work by Raphael for £29 million after a four-party bidding war.
[56] On December 22, 2015, it was reported that Black purchased at auction a complete set of the Daniel Bomberg Babylonian Talmud for $9.3 million.
"[58] In June 2016, a lawsuit over the Picasso sculpture Bust of a Woman (Marie-Thérèse) between the advisory firm Pelham Europe and art gallery owner Larry Gagosian was settled.
Pelham Europe, an agent for a member of Qatar's royal family, and Gagosian, who had resold the bust to Black, both claimed ownership.