MoMA Chair Leon Black Resigns as Apollo CEO After Epstein Payment Report

Leon Black, chair of the Museum of Modern Art in New York, has resigned as CEO of Apollo Global Management following an internal investigation revealing $148 million in payments to Jeffrey Epstein. The report by law firm Dechert LLP found no evidence linking Black to Epstein's criminal activities, which included convictions for sex offenses and allegations of trafficking underage girls. Epstein died in his jail cell in 2019 while awaiting trial. Black, a MoMA trustee since 1997 who became board chair in 2018, stated Epstein provided advisory services on tax, estate planning, and philanthropy. Museum director Glenn Lowry previously praised Black's leadership and art expertise. In 2012, Black purchased art publisher Phaidon and paid $119.9 million for Edvard Munch's 'The Scream,' then a record auction price, displaying it at MoMA. With an estimated $10 billion net worth, Black has pledged $200 million to gender equality initiatives to address his professional relationship with Epstein.