Josh Harris, with a net worth estimated at over $9 billion, is a highly successful businessman and investor known for his work in private equity and professional sports ownership.
As one of the co-founders of Apollo Global Management, a private equity firm launched in 1990, Harris played a pivotal role in growing the firm into one of the largest and most influential investment firms globally.
Over the years, Apollo has amassed billions in assets under management, contributing significantly to Harris’s wealth.
Harris’s foray into the sports world began in 2011, when he became a prominent owner in the NBA as part of an investor group that purchased the Philadelphia 76ers. Since then, he has expanded his portfolio to include other high-profile sports teams.
Josh Harris (Credit: YouTube)
Notably, in 2023, Harris led another investor group that purchased the Washington Commanders NFL team for a staggering $6.05 billion.
This acquisition set a new record as the highest price ever paid for any North American sports franchise, surpassing previous deals for NFL teams like the Denver Broncos.
The Commanders deal is particularly significant as it underscores Harris’s deep involvement in the rapidly appreciating sports industry, where the value of teams continues to soar.
Beyond the 76ers and Commanders, Harris also has a significant stake in the New Jersey Devils, an NHL franchise.
His diverse portfolio of sports investments makes him one of the few individuals to own teams in multiple major leagues simultaneously, spanning the NFL, NBA, and NHL.
Harris has stated that he expects to see more private equity deals for sports teams in the future as the industry continues to evolve, making his approach to team ownership one to watch for other investors.
In addition to his sports ventures, Harris’s wealth is also tied to his leadership role at Apollo Global Management.
Through Apollo, he has been involved in numerous high-profile investments across various sectors, including real estate, energy, and finance.
His diversified portfolio of investments has played a crucial role in growing his net worth to over $9 billion, making him one of the wealthiest figures in the sports ownership and investment world.
Harris’s approach to ownership has been described as unorthodox and forward-thinking.
For example, when he took over the Washington Commanders, he made a splash by buying free beers for local fans in an effort to create goodwill and build a connection with the community.
This unique, fan-focused gesture highlights his desire to not only be a successful businessman but also to positively impact the fan experience and the legacy of the teams he owns.
Josh Harris (Credit: X)
With the increasing value of sports franchises, Harris’s net worth is likely to continue growing, as more investors see the financial potential in owning professional sports teams.
His diverse business interests, innovative approach to sports ownership, and significant investments in multiple sectors make him a notable figure in the world of business and sports.
DeMar DeRozan was forced to exit the Sacramento Kings’ 127-104 win over the Phoenix Suns on November 13, 2024, due to lower back tightness. DeRozan, who had been a key player for the Kings, particularly in clutch moments this season, played just 17 minutes in the first half, scoring 2 points on 1-of-2 shooting.
He did not return for the second half and was ruled out shortly after halftime. Despite the injury, the Kings are optimistic that DeRozan will be ready for their upcoming NBA Cup game against the Minnesota Timberwolves.
Kings head coach Mike Brown acknowledged that DeRozan’s absence during the game was a significant loss, but the team managed to step up in his place. Trey Lyles started the second half in DeRozan’s place, contributing 13 points on 5-of-7 shooting.
As a team, the Kings showcased strong 3-point shooting, with 15 successful shots from beyond the arc at a 53.6% clip.
Brown emphasized that injuries to key players like DeRozan and Malik Monk (who is also sidelined with an ankle injury) would require the team to continue finding ways to win by committee.
DeMar DeRozan (Credit: YouTube)
DeRozan’s Impact on the Kings’ Success So Far
DeRozan has been a crucial part of the Kings’ lineup this season, especially in clutch situations. He has scored 36 points in clutch moments so far, ranking second in the league for the category.
On the season, he is averaging 24.8 points per game on an efficient 52.6% shooting, making him an integral part of the Kings’ success.
Losing him for any significant period would severely impact the team’s depth, with already missing sixth man Malik Monk.
Despite this, the Kings managed to secure a decisive win against the Suns, led by De’Aaron Fox’s 29 points and Kevin Huerter’s breakout performance with 22 points.
