In 1990, Marc Rowan walked out of Drexel with his belongings in a cardboard box. Within a year, Apollo was managing $6 billion.

David Haber speaks with Marc Rowan, Cofounder, CEO, and Chair of Apollo Global Management, about building Apollo into one of the world’s largest alternative asset managers and how private capital is reshaping the global economy.

The conversation covers the rise of private credit, and why Rowan believes private markets are becoming increasingly central to financing the real economy. They also discuss AI, data centers, robotics, and the growing intersection between venture-backed technology companies and large-scale private financing.

Along the way, they reflect on leadership, institutional culture, and why enduring organizations must adapt rather than protect the status quo.

Timestamps:
00:00 - Intro
00:52 - Drexel, Milken & the Origins of Clean Sheet Thinking
04:55 - The Apollo Origin Story: From Unemployed to $6 Billion
08:46 - How Apollo Became a Trillion-Dollar Retirement & Credit Firm
13:00 - Permanent Capital, Origination & Why Assets Are the Scarce Resource
16:08 - Democratizing Private Markets: Daily Pricing & New Capital Channels
22:04 - Where Venture Meets Credit: Financing the Industrial Renaissance
30:01 - AI, Enterprise Software & Why Every Job Will Be Replaced or Enhanced
38:52 - Moral Leadership: UPenn, Merit & Doing Right Over Easy
46:02 - Apollo's Culture: Playing to Win & Building to Outlast the Founder

Resources:
Follow David Haber on X: https://x.com/dhaber
Learn more about Apollo Global Management: https://www.apollo.com

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