Reported 2 days ago
Marc Rowan, CEO of Apollo Global Management, has initiated a prepaid variable forward contract for $431 million worth of shares, which is about 7% of his total stake. This move is aimed at accessing cash while delaying tax liabilities and maintaining voting rights. Although he has no intention to sell the remainder of his shares immediately, this strategy comes as Apollo enters the S&P 500, marking a notable increase in the firm's value and trading volume.
Source: YAHOO