Mega Edition: Leon Black And His "Rap" Performance (3/15/26)

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1:00Craving the coffee flavor you love. But without the caffeine, Kachava's got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium decaffeinated Brazilian beans with 25 grams of protein, six grams of fiber, greens, and so much more. Treat yourself to the flavor and nutrition your body craves. Go to kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news. A little bit about Leon Black again this morning. Mr. Black is absolutely under fire from forces internally and externally over his relationship with Jeffrey Epstein. Now, they had a relationship that stretches back all the way till 1996. At least that's what we have on record. And their relationship continued after Jeffrey Epstein was already a convicted sex offender. And not only did the relationship continue,

2:00it continued to the tune of at least $75 million. And according to Mr. Black, that money was used to pay Jeffrey Epstein for his fine austere services. Because you know, Jeffrey Epstein's such a guru when it comes to financial planning or trust planning or whatever else Leon Black says that Jeffrey Epstein was doing for him. Jeffrey Epstein was so worth $75 million. I mean, come on really. So Leon Black is once again now making headlines. And they're not the kind of headlines that you want your guy to be making if you're investing money with them. And Apollo is getting absolutely creamed. They're getting hammered. And you see, they initiated their own quote-unquote investigation. So they're taking it at least serious enough to where they're appearing like they're going to take a look deeper about what occurred.

3:04But when they start bleeding and hemorrhaging money the way they are in the market, that is one sure fire away to kick their ass into gear. It's all about the money when it comes to people like Leon Black. And it is all about the money for Apollo, global, not even a question. But even though investors are running for the hills and you have pension, pension years and pension plans that are pausing all business with them as far as new investments, etc., etc., one group is not doing that. One group has stood behind their guy and they don't care about anything else it would seem. And that group is the Museum of Modern Art. He's also the chairman of the Museum of Modern Art, by the way. But he is definitely being supported and kept in that position by the trustees and the people who are involved in making those decisions for the Museum of Modern Art.

4:08So we have an article from the post tonight and it is from the files of the absurd, right? I want you to picture this scenario that I'm about to lay out for you, okay? You walk into the Museum of Modern Art as a guest or whatever and you're there because Leon Black is the new chairman and for the entertainment, Leon Black comes out with the microphone and he performs a rap song. According to the New York Post, that is exactly what occurred and I can't even imagine how cringey it must have been. Can you imagine this dude coming out and acting like he is a rapper? Like this dude has bars or verses or anything anybody wants to hear? So some of the lyrics are enclosed in this article as well. We're going to get to those when we read the article. But make sure you check out this New York Post article. There's a great picture of obviously Leon Black over, I don't know,

5:09posed over someone's body and he's wearing a red hat instead of MAGA. It says MOMA for the Museum of Modern Art and he's wearing like a leather, like a bomber jacket kind of, a gold chain, a couple gold watches, pretty funny stuff folks. So let's jump into this article from the New York Post and see what kind of nonsensical, ridiculous rap this moron performed. Headline, Museum of Modern Art supporting its rapping chairman despite ties to Epstein. This article was authored by Josh Cosmon. Billionaire Leon Black is being plagued by questions about his ties to alleged sex trafficker, Jeffrey Epstein, everywhere. But the Museum of Modern Art, where he is the chairman, the post is learned. Well, that's shocking, huh? I wonder how much money he's dumped into MOMA. I wonder how much money Leon Black has given them to buy their loyalty.

6:12Because if he wasn't doling out the fozzles, then you know for a fact these people will want nothing to do with them, right? They're like, yeah, okay, sorry, you ain't, what are you providing for us? Oh, you got to go. Because we all know that these people are all, all of them are involved in parasitic relationships with one, with one another and it's so gross to see. And the absolute just disgusting way these people go about themselves is mind blowing. Every time we go, we read another one of these articles, I just shake my head and I wonder how in the hell these people got away with it for so long. Trustees of the Midtown Manhattan Museum have been reluctant to act on reports that their chairman since 2018 funneled millions in consulting fees to Epstein for years after he pleaded guilty to child prostitution in 2008 sources said. So again, it's all about the money, right? If this was a normal average guy, maybe just a member of the board or whatever,

7:18then I would not think that they would be long for that position. But when you're Leon Black and you're breathing that rarified era with that kind of money cushioning the blow, well, you're not going to get hurt on the way down, right? You're going to have a nice cushion soft fall and you're going to bounce right back up and right back into the mix. And that's what you're seeing Leon Black attempt to do here. He's really trying to pull an end around and get out in front of this. But the problem is he had years to get out in front of this. He had years to stop this and he chose to continue his relationship with Jeffrey Epstein. So now you have to sleep in the bed that you made because nobody feels sorry for you. Nobody thinks that you're being pressured by the media. Again, you got away with this for years. Nobody asked you any questions. And now you have a few weeks of tough questions and all of a sudden it's a it's a big deal. You're coming out and you're trying to get ahead of it like this. Do you really think Leon Black would be addressing

8:19this head on the way he is if there was no fire where this smoke is at? Mama trustees have told the post they expect the board to address the sticky situation only if it ends up hurting the museum's ability to raise money. Or if Black is found to have engaged in wrongdoing, which he denies, really the rub is right up top there. And I just mentioned it raise money, raise money money money money money money money money money money money. That's all any of these people care about. And don't get me wrong. I like me some money too, right? I like to have a nice fat bag secured. I like to make sure my bills are paid. I like to have security financially. But I'm not driven by money. It's not the thing that drives me and will make me sacrifice the person I am or or the morals that I have to attain that money. There got to be a better way. And these

9:22people who are at these levels of power are so corrupt by the the money and the power and the influence that it is something that most of us can't even comprehend honestly. One trustee said he believes the founder chairman and chief executive Apollo global management when he says regrets any involvement with Epstein who killed himself allegedly in prison last year while awaiting trial on trafficking. So I'm guessing this is an unnamed source. One trustee said he believes the founder. Of course you believe the founder. How much money has Leon Black given you? Furthermore, why would you try and get rid of your golden cow? That would be a dumb idea, until something comes out. These guys aren't going to get involved and they're not going to step up and try and be the hero. They're busy shoving their hands in their pockets with piles of cash folks.

10:27Leon's been extremely good to the museum and he takes his work seriously. Again, it's about the money. Remember, it's not what they it's not always about what they say. It's about what they don't say and what he's omitting here is he means it's about the money. Leon's been extremely good to the museum. I know he wasn't there washing the floors. He wasn't cleaning toilets. He wasn't giving tours. He was providing money. He was being a bag man. So that's what you really mean. His money would be missed if he left. If he was no longer a part of your cool little archie club and also the art world, I am sick and tired of the art world. It's right up there with the modeling world. It's filled with bipedal serpents and absolute jackasses. Craving the coffee flavor you love. But without the caffeine, Kachava's got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium decaffeinated Brazilian beans. With 25 grams of protein, 6 grams of fiber, greens, and so much more.

11:29Treat yourself to the flavor and nutrition your body craves. Go to kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news. Craving the coffee flavor you love. But without the caffeine, Kachava's got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium decaffeinated Brazilian beans. Quality nutrition shouldn't be complicated. Just two scoops of Kachava's all-in-one nutrition shake and you've got 25 grams of protein, 6 grams of fiber, greens, and so much more. Whether you're craving that coffee taste to kick start your morning ritual or as a nutrient-packed reward to round out your afternoon, Kachava keeps you fueled and satisfied wherever your day takes you. Plus, it actually tastes delicious. No fillers, no nonsense. Just the good stuff your body craves. And for the times you feel like switching it up, you've got seven flavors to choose from, all with the highest quality ingredients. Treat yourself to the flavor and nutrition your body

12:31craves. Go to kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news. Craving the coffee flavor you love. But without the caffeine, Kachava's got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium, decaffeinated Brazilian beans. Quality nutrition shouldn't be complicated. Just two scoops of Kachava's all-in-one nutrition shake and you've got 25 grams of protein, 6 grams of fiber, greens, and so much more. Whether you're craving that coffee taste to kick start your morning ritual or as a nutrient-packed reward to round out your afternoon, Kachava keeps you fueled and satisfied wherever your day takes you. Plus, it actually tastes delicious. No fillers, no nonsense. Just the good stuff your body craves. And for the times you feel like switching it up, you've got seven flavors to choose from, all with the highest quality ingredients. Treat yourself to the flavor and nutrition your body

13:31craves. Go to kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news. The trustee set of black who donated tens of millions to the Well-Heeled Museum before being named its chairman. I hope he gets through this, so he donated those tens of millions so he can become chairman, his hubris, his narcissism. It wasn't enough that he was the big head honcho over at Apollo. No, he had to be the chairman at MoMA-2. It's never enough for these people. It is never, ever enough for these people. And they have to have more power and more power and consolidate it and have more and have more. And it just never stops. And I'm convinced that it makes them crazy. It makes them sick in the head and it makes them deranged. A second trustee said, the news about Leon and Epstein is a bit surprising. Before predicting that the museum stewards will

14:32let the scandal play out. Yeah, that's what I predict too. I don't think the museum's going to step in. Again, Leon Black is a huge source of revenue for them. Big-time money. And I don't just mean the actual museum. You think these people aren't getting a little clip of that, a little taste? They're not wet in their beak? Hell yeah, they are. When Black took over the MoMA chairman role in 2018, he vowed to not cause trouble and to live up to his predecessor, real estate mogul Jerry Spayer sources said, Black even put the promise to song in July 2018 in the form of a rap he performed for his new art pals at the palatial Renaissance style four-story townhouse he owns on 19th East 70th Street of former art gallery itself. Oh man, so we're getting down to the meat of it now. Leon M&M Black jumped out on the stage and was dropping bars, I guess. I mean, he was firing verses.

15:35Oh, we got some lyrics here. Maybe I should wrap them. Maybe I should wrap these lyrics. That's what I'm going to do. I'm going to wrap these lyrics for you as if I was Leon Black. The guests were enjoying pre-dinner drinks in the living room when Black handed out sheets of paper containing lyrics. He then stood opposite Edvard Munch's painting, The Scream, for which he paid $125 million in 2012 to perform. A pianist accompanied him. Yo, yo, DJ, drop the bass. You know we've been so lucky to entrust it with Spayer. You know that dude builds things higher and higher, Black sang. Some of the MoMA trustees exchanged glances, not knowing what to think as the song continued. A few sang along and source said, yeah, I'm sure that they didn't want to sing this goofy ass song with this goofy ass dude standing up there in his goofy ass outfit. Give me a break already. All right, back to our rap song. You

16:37ready? Hold on. Yo, DJ, drop it. And you know when Leon's in charge, you know we'll keep us from disasters because that guy keeps up with all the modern masters, MoMA. Dally, O'Keefe and Mark Rothko. MoMA, Oldenburg, Kusama and Velasco. MoMA, we need you to tell us the truth. MoMA, for the world, you're like a fountain of youth. He belted out, according to sources and a lyric sheet reviewed by the post. Yo, that was my rap debut. You were all here in attendance from my rap debut and my new rap name is Little Rob. That's it. From now on, that's what I want you to call me. I mean, is this guy for real? He gets up there with a rap song? Could it be any more cringe worthy? Those ridiculous lyrics? I'm sure he was gesticulating like an absolute moron up there as well too. You see Donald Trump dance? I'm sure it looks something like that. He was really into it and was enjoying the spotlight one attendee told the post, adding that the

17:42lyrics now seem ironic as Black is hardly keeping MoMA clear of trouble. Yeah, it is pretty ironic, huh? Leon M&M Black. I thought you weren't going to bring any more trouble down. I thought you were going to be squeaky clean. Well, sir, sir doesn't, sure doesn't seem to be the case. After the sing along, the trustees enjoyed a buffet and cookies adorned with the faces of Spayer, MoMA's outgoing chair, and President Marie, Josie, Cravis, according to sources. Wasn't that cute? Let's have some little cookies with our friends face on them and eat them. So weird. I just, I don't know, I don't get it. I guess it's not all that weird, but still, when you look at the big picture of all of these people and just the way they conduct themselves, I'm sure that had some weird ass meaning for them too, these artsy type folks. I'm sure they're all, you know, down with the spirit cooking, a brum of itch type deal.

18:42Moment it in return, a request for comment. Black, through a spokeswoman, reiterated his statements disavowing Epstein, including that Black was completely unaware of and continues to be appalled by the conduct that led to Epstein's 2019 arrest. Everyone's appalled by your rap song too, though, buddy, okay? We believe that a lot more than we believe that you're appalled by Jeff Reepstein considering how long you guys hung out. Did you ever make a rap song with your buddy, Jeff Reepstein? Did you guys sit around and write up some rhymes? Moron. The 69-year-old financier, an avid art collector, and rapper extraordinaire, and MC, and B-boy, and graph artist, and I mean, he just embodies hip-hop, doesn't he? Has been under pressure to explain his Epstein ties since the pervy money manager, pedophile, was charged last year with exploiting dozens of underage girls as young as 14 for sex between 2002 and 2005. Alligations that dodged him both before and after is 2008 guilty plea.

19:51And just like with Gila and Maxwell, those were only going to be the original charges, right? Do you think that was all that was coming down the pipe? No, it charged him with conspiracy. You can't be engaged in a conspiracy of one, folks. If there weren't more indictments that were going to come down the pipe, then why did they need the non-prosecution agreement for the core four? The US Virgin Islands district attorney is investigating allegations that Epstein brought hundreds of young women to a private island located in that territory, and is filed for subpoenas and that black. She also filed to subpoena fellow Momotrusty Glen Dubin and the financier's wife Eva Anderson Dubin, who were pals with Epstein. The couple has also denied any wrongdoing. Well, I'll tell you what, I'll believe in fairies before I believe that Glen Dubin didn't know what was

20:51going on. Now Leon Black has never been, let's be very clear here, folks. I know other people like to take leaps, not me. Leon Black has never been accused of anything involving the actual trafficking ring, right? Leon Black is being accused of his relationship with Jeffrey Epstein, facilitating a financial relationship with Jeffrey Epstein. Now Glen Dubin, on the other hand, that's a whole different ballgame. And Glen Dubin is being credibly accused in the same manner that the joe exotic of the Windsor family is. And I feel the same way that I would about the that I do about the joe exotic of the Windsor family. Glen Dubin should be brought in under oath and he should speak on this. And if he lies, he should be arrested for perjury. These people are not above the law. I'm not asking for any sort of show trial or nonsensical trial here where, you know, people get swooped up out of their house. They see a judge one time and then they're in prison the rest of their lives. I want a real trial here. I want all of this laid out.

21:54I want it in discovery. And then we'll see what's what we'll see who's telling the truth then. Because from where I'm sitting and just from the circumstantial evidence we have access to, I don't know how anyone can deny that Jeffrey Epstein, Elaine Maxwell and all of the people that were involved with them were sick and disgusting predators. The pressure amounted last month when the New York Times reported that black funneled some $50 million in consulting fees to Epstein between 2012 and 2017, roughly 10 million a year for consulting fees. I'm sorry, but I don't buy it. I do not buy it for one single second. He has said he paid Epstein for tax advice and estate planning and that Apollo never did any business with him. Leon Black, you are Apollo and Apollo is you. Stop it.

22:55The $312 billion firm is now independently investigating the relationship in hopes of putting investors at ease. Yeah, I doubt it may be some investors, but I don't think the people who have pensions with you, public pensions are going to be put at ease anytime soon. One can imagine a situation where black says all I did was make a foolish decision, but for the time being, I am willing to step off as a member of the board, said Richard Marker, expert on philanthropy ethics and founder of the Institute for Wise, Philanthropy and Advisory Group. That would be a reasonable response. Yeah, you think time to step down, Leon Black, until you get this all figured out, Leon M&M Black, slim Leon. I'm going to need you to step back, my friend, because you have no business being in charge of any of this at this point until you answer some questions. If Glenn Dubin had to step down and less Wexner and Prince Andrew, then you as well, all of you that were involved, Leon Black,

24:00not to the same degree, obviously, as Dubin or Andrew, but still he has to answer for the reasoning behind this money. What was this money really for? You can say whatever you want, but there needs to be receipts. There needs to be an accounting because what are we just supposed to take Leon Black's word? I don't know about you folks, but I'm done taking the word of these bipedal serpents. I am done listening to so-called polite society. And I am done with them scurrying the law. Craving the coffee flavor you love, but without the caffeine, Kachavas got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium decaffeinated Brazilian beans. Quality nutrition shouldn't be complicated. Just two scoops of Kachavas all-in-one nutrition shake, and you've got 25 grams of protein, 6 grams of fiber, greens, and so much more. Whether you're craving that coffee taste to kickstart your morning ritual, or as a nutrient-packed

25:01reward to round out your afternoon, Kachava keeps you fueled and satisfied wherever your day takes you. Plus, it actually tastes delicious. No fillers? No nonsense. Just the good stuff your body craves. And for the times you feel like switching it up, you've got 7 flavors to choose from, all with the highest quality ingredients. Treat yourself to the flavor and nutrition your body craves. Go to Kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news. Craving the coffee flavor you love, but without the caffeine, Kachavas got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium decaffeinated Brazilian beans. With 25 grams of protein, 6 grams of fiber, greens, and so much more. Treat yourself to the flavor and nutrition your body craves. Go to Kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news.

26:03Craving the coffee flavor you love. But without the caffeine, Kachavas got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium decaffeinated Brazilian beans. Quality nutrition shouldn't be complicated. Just two scoops of Kachavas all-in-one nutrition shake and you've got 25 grams of protein, 6 grams of fiber, greens, and so much more. Whether you're craving that coffee taste to kickstart your morning ritual or as a nutrient-packed reward to round out your afternoon, Kachava keeps you fueled and satisfied wherever your day takes you. Plus, it actually tastes delicious. No fillers, no nonsense. Just the good stuff your body craves. And for the times you feel like switching it up, you've got seven flavors to choose from, all with the highest quality ingredients. Treat yourself to the flavor and nutrition your body craves. Go to Kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news.

27:03The year 2020 is the year that the predator turns into the prey. If you'd like to contact me, you can do that at Bobby Capucci at ProtonMail.com. That's B-O-B-B-Y-C-A-P-U-C-C-I at ProtonMail.com. All right, so on to the matter at hand. We're going to keep talking about Leon Black this morning. Now, he has been a subject of conversation on this podcast for quite some time. Before he stepped down, before there was any clear indication that that was going to occur, we were forecasting and prognosticating that this was going to happen. I mean, the writing was on the wall, right? You don't have to be Melisange and look into the fires to see what was going to happen here. But now, there's a new report out from the financial

28:05times about how Leon Black attended a global, an Apollo global meeting just days after he resigned. Doesn't this guy get it? When you resign, that's it. The party's over, pal. Nobody wants you at these meetings. There's a reason that you had to resign. And you showing up at these meetings is certainly not something that the current board members, investors, and anyone else involved is looking forward to. This article is from the Financial Times. Headline, Leon Black attended a Apollo global meeting days after resignation. It's just, you know, these people are so tone deaf, right? They don't understand the real world. And I know that's kind of hard to believe considering how much quote-unquote success these people have had. But it's quite obvious. They don't understand that

29:06the rest of us aren't looking up at them with adoring eyes. That ship is sailed. This article was authored by Mark Van Develd, Sujeet Indop, and Andrew Edgecliffe Johnson. Leon Black quietly attended a meeting of top executives at Apollo global management days after he resigned from all his positions at the company. In an effort to quell investor unease over his ties to the late pedophile, Jeffrey Epstein. So what is this guy working out of the Prince Andrew playbook? I'm going to take a step back from a public life. But then I'm going to dip my toe back in and see what's going on. What are you brain deadly on Black? What are you doing showing up at this meeting? Take your billions of dollars and go stare at your Edward Munch picture.

30:10The Group's executive committee had been scheduled to hold its monthly meeting during the week of March 29th, according to several people with knowledge of the participant schedules. Until his resignation as chair and chief executive on March 21st, the 69-year-old billionaire had been a fixture on the committee, along with his Apollo co-founders Mark Rowan and Joshua Harris. Three other top executives are regular attendees. So this guy thought like, I'm just going to show up at this meeting even though nobody wants me here. Even though my shelf life has expired, I'm just going to show up at this meeting anyway and act like I'm still part of the pack, part of the crew. Did he think that the media and the people covering this case and following this case weren't going to get a whiff of this? Did he think people weren't going to ask questions as to why he was attending this meeting after he had resigned already? Or maybe he just doesn't care.

31:15Hours before it was due to start, the gathering was redesignated as an informational meeting to accommodate the presence of black who had resigned from the executive committee in the previous week. Two of the people said, so here they are accommodating him again, turning it into an informational meeting as opposed to an official meeting. So because Leon Black and his hubris had to attend, had to show up, had to be part of it. It wasn't an official meeting, it was an informational meeting. These people are so ridiculous. All of these executives, all of these hedges, all of these people like Leon Black, like Rowan, like Smith, all of them are just absolutely ridiculous. Apollo said in a statement, as a large shareholder, Mr. Black is entitled to information about the

32:15company, pursuant to confidentiality and other restrictions. Oh yeah, he couldn't have been briefed by Rowan or Smith, right? He had to be there. Since he's a large shareholder, he has the right. Is that going to be his way to circumvent this resignation by declaring that he's a large shareholder and he needs to be present at these meetings? And furthermore, if this was a meeting that was intended for him to attend? Well, don't you think that they would have had to redesignate the name of the meeting a couple minutes before it happened? Come on. It's obvious that he should never have been at this meeting and he showed up because he was trying to floss. How many times do we have to talk about these guys? How they don't seed power willingly? It has to be taken from them. And you're seeing that happen right now in small increments. Leon Black is losing power in small increments and he doesn't know what to do with himself.

33:18On March 21, Mr. Black stepped down his chair and CEO and all other Apollo roles the firm added, Mr. Black did not and will not attend executive committee meetings following such a date. Okay, yet Black's presence at a meeting of Apollo's top press could undermine efforts by the 455 billion dollar investment group to emerge from the shadow of its billionaire co-founder and largest shareholder. Of course, it's not good. Nobody, look, we're talking about it, aren't we? If you're Apollo global, you're one of the board members there, you're an investor. The last thing you want is this radioactive guy showing up glowing like Fukushima, talking about, hey guys, where's the punch? I'm here for the meeting. Is this guy brain dead or what? The whole idea was distancing themselves from you, Leon Black?

34:19You don't just show up unannounced? It's like you quitting your job and then showing up to a team building meeting the next day. Shareholders typically do not have permission to attend board or management meetings, said Charles Ellison, a corporate governance expert at the University of Delaware. Yeah, no crap. Of course they don't. None of this is normal, right? Anyone who pays attention to the financial world even just a little bit understands that none of this is normal. The way that Leon Black conducts himself is not normal. He's one of these guys that believes that because he has so much money and that he believes that he breathes so-called rarified air, that he's better than everybody, that he has a different set of rules that he should march to. And he certainly doesn't believe that he should be held accountable the same way you or I would be. He is certainly a big fan of the two-tiered justice system.

35:21Earlier this year, in excuse me, to attend is odd and counterproductive for both the person and the company he added. I can understand it from the human side, feeling part of the organization, but if you did not want to leave, you should not have left. That is exactly the point I'm trying to make here, right? What are you doing? You step down from this role, you take a step back, you say that you're leaving all of your positions, but then you show up to this meeting? And it's not like it's an informal meeting, they have to re-designate what the meeting was because you showed up. Earlier this year, investors including the UN Joint Staff Pension Fund and the Connecticut Retirement Plans and Trust Funds expressed reservations about investing in Apollo funds. Look, we talked about this too. When you're talking about public pension plans and you're talking about civil servants who are putting their future in the hands of an investor

36:25like Apollo, the last thing they want is this sort of side story going on. They're trying to increase their money as much as they possibly can. And some of these groups are trying to do it but on the moral side, perhaps, you know, the groups that have said, hey, look, we're no longer going to be involved with Apollo. I applaud them. There are other vehicles, other institutions that are probably pretty scummy, right? But at least they're not involved with Jeffrey Epstein. Black's resignation followed intense scrutiny of his personal business activities, including his employment of Epstein to handle art transactions and give tax advice that the billionaire estimated may have provided as much as two billion in benefits. Oh, I'm sure it was all on the up and up. Jeffrey Epstein is that kind of guy. He's going to show up and he's not going to cook your books. Not at all. Everything's going to be correct. Everything's going to be

37:28accounted for. All eyes are going to be dotted. All teas are going to be crossed. What? Jeffrey Epstein of all people is who you're asking for advice with your finances. Can somebody please explain to me how there's not a financial investigation into Leon Black yet? Craving the coffee flavor you love. But without the caffeine, Kachava's got you covered with their newest coffee flavor. This all-in-one nutrition shake delivers bold, authentic flavor, crafted from premium, decaffeinated Brazilian beans, with 25 grams of protein, six grams of fiber, greens, and so much more. Treat yourself to the flavor and nutrition your body craves. Go to kachava.com and use code news. New customers get 15% off their first order. That's KACHAVA.com code news. Craving the coffee flavor you love. But without the caffeine, Kachava's got you covered with their newest coffee flavor. This all-in-one nutrition shake

38:29delivers bold, authentic flavor, crafted from premium, decaffeinated Brazilian beans. Quality nutrition shouldn't be complicated. Just two scoops of Kachava's all-in-one nutrition shake and you've got 25 grams of protein, six grams of fiber, greens, and so much more. Whether you're craving that coffee taste to kickstart your morning ritual, or as a nutrient-packed reward to round out your afternoon, Kachava keeps you fueled and satisfied wherever your day takes you. Plus, it actually tastes delicious. No fillers, no nonsense. Just the good stuff your body craves. And for the times you feel like switching it up, you've got seven flavors to choose from, all with the highest quality ingredients. Treat yourself to the flavor and nutrition your body craves. Go to kachava.com and use code news. New customers get 15% off their first order. That's K-A-C-H-A-V-A.com code news. Hey, this is Bired Winthrop, founder of American Giant. Back in 2011, I was fed up sick of cheap disposable clothes that fell apart after a few washes,

39:33and even more sick of the fact that almost nothing good was made here anymore. So I started American Giant to prove something that we could still make the absolute best hoodies, t-shirts, and pants right here in America, with American cotton, American factories, and American workers earning real wages. We exist to bring manufacturing home, create good jobs and towns that need them, and build clothes that actually last. No shortcuts, no overseas compromises. Get 20% off your first order when you use promo code giant20 at American-Giant.com. That's 20% off when you use code giant20 at American-Giant.com. Black paid 158 million to Epstein over a five-year period, ending in 2017. So again, nobody's paying that kind of money for advice. Now we learn that Leon Black had this

40:41situation with that young lady from 2015 on, right in the wheelhouse when he was boys with Jeffrey Epstein. What did Jeffrey Epstein know and when did he know it? The relentless public attention and media scrutiny have taken a toll on my health, and have caused me to wish to take some time away from the public spotlight. Black wrote to Apollo staff in March. Black said he would remain Apollo's single largest shareholder and its biggest supporter. He added, I hope to return at some point. Black declined the comment. You know, it's funny that you hope to return at some point, because I hope that later on today, when I leave the house, and I head over to the casino for a little bit to put some money on my wagering account, I hope that I put a $10 bill in the megabucks machine, and I hit megabucks. Rowan, who were a place black as Chief Executive last month, has been overhauling the investment group, merging it with Athene Holding, the insurance company that

41:45he helped to create in 2009, and which has become Apollo's biggest client. Now that's a big merger for them. Athene Holding is a very profitable sector of their business, and the merger here is a shrewd business move. Look, nobody's ever going to say that Rowan isn't a good CEO. He is, he knows what he's doing. There's no doubt about that. But again, all of these hedges are suspect in my opinion at this point. Apollo has added several new independent directors, including Jay Clayton, the former chair of the US Securities and Exchange Commission. Clayton replaced black as Apollo's chair. Again, Jay Clayton, really, that's the best you can do. That's the best out there that you can do, huh? Yeah, not too impressed, Apollo Global. The company has also collapsed its dual-class share structure, as part of an effort to convince investors that its corporate governance is now

42:46becoming best in class, as it describes it. Yeah, okay, sure. That's like the dollar store saying that it's the top top of the line place for you to go and get food products. It sure looks like Apollo's day has come in gone, folks. They're lagging behind their competitors, and in this ultra competitive market, and in a pool filled with gigantic sharks, no weakness can ever be shown. On Friday, Apollo said in a securities filing that Robert Kraft, the owner of the New England Patriots football team, would leave the Apollo board after a seven-year tenure. The changes have not impressed Wall Street. Apollo shares have been flattened 2021, while its rivals KKR and Black Stone have jumped by 20% or more, and that has to be very, very, very concerning. For Apollo Global,

43:47especially considering the transfer of wealth that's happening from the bottom up, you would think a place like Apollo Global would be right at the corpse, pecking right along with the other vultures getting a belly full. But that is not the case. The stench of Epstein hangs over them. And Leon Black showing up to these meetings? Well, it's not doing you guys any favors. If you'd like to contact me, you can do that at bobby kapuchi at protonmail.com. That's B-O-B-B-Y-C-A-P-U-C-C-I at protonmail.com. You can also find me on Twitter at b-o-b-b-y underscore-c-a-p-u-c-c-i. All of the links that go with this episode can be found in the description box.

44:53So I started American Giant to prove something that we could still make the absolute best hoodies, t-shirts, and pants right here in America, with American cotton, American factories, and American workers earning real wages. We exist to bring manufacturing home, create good jobs in towns that need them, and build clothes that actually last. No shortcuts, no overseas compromises. Get 20% off your first order when you use promo code giant20 at American-giant.com. That's 20% off when you use code giant20 at American-giant.com. We support the Durban Martial Credit Card Bill. See, things in credit unions help small businesses make payroll. This bill would cut the vital resources they need. While increasing Megastore

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