Popularized in films like Limitless, legal smart drugs called Nootropics are becoming more and more prevalent in board rooms and on Wall Street.Keep reading »
Twinkies (and other things) did right by Black last year.
Leon Black, co-founder and chief executive of Apollo Global Management LLC, received $546.3 million in dividends, investment proceeds and compensation for 2013, making him the most richly rewarded executive at a publicly traded private-equity firm last year. Mr. Black’s haul, detailed in a Monday securities filing, exceeds that of Blackstone Group BX -2.26% LP’s Stephen Schwarzman, whose payout for a banner year was $465.4 million, according to a Friday filing…
Much of Mr. Black’s half-billion-dollar take came from dividends paid on his 92.7 million Apollo shares. The firm paid out $3.98 per share for 2013. For Mr. Black, that means dividend checks totaling about $369 million, a little more than double the $180.1 million he collected on Apollo’s $1.98 per-share dividend in 2012, according to the filing. Mr. Black also reaped about $177 million from his investment in Apollo’s funds, according to the filing. The New York firm also paid $164,803 for a car and driver for Mr. Black in 2013, the filings said. Like those who lead Apollo rivals Blackstone and KKR & Co., Apollo pays its top executives token salaries, staking much of their fortune on the firms’ ability to make money for investors. Mr. Black was paid the same $100,000 salary in 2013 that he’s received since Apollo went public in 2011.