Joshua Harris is a very successful investor. However, most people will be most familiar with him because of his ownership stake in not one, not two, but three sports teams, though two of those three sports teams will be much better-known to most people in North America than the other. Here are 10 things that you may or may not have known about Joshua Harris:
1. Grew Up in Chevy Chase, MD
Harris was raised in a place called Chevy Chase, which isn't a single place but rather a collection of places with a shared history. For those who are curious, there is both a town called Chevy Chase and an unincorporated CDP called Chevy Chase that can be found in the state of Maryland, which are situated next to a Washington, D.C. neighborhood called Chevy Chase. On top of that, there are other places in the same region that bear the name as well.
2. Went to the Wharton School
For his education, Harris went to the Wharton School, which is the business school of the University of Pennsylvania. The school is named thus because its founding was funded by a man named Joseph Wharton, who tends to be best-remembered because of his involvement in mining, manufacturing, and education. However, it is interesting to note that said individual was very interested in the sciences as well, so much so that he is known to have presented several scientific papers to the American Philosophical Society.
3. Went to the Harvard Business School
Besides the Wharton School, Harris went to the Harvard Business School as well, which is exactly what it sounds like. The Harvard Business School has a very well-known MBA program. Moreover, its reach extends far beyond its boundaries because of Harvard Business Publishing, which produces a huge volume of business books, case studies, and other resources for business-minded individuals.
4. Used to Wrestle in College
Perhaps unsurprisingly, Harris has been called a pretty competitive person. Moreover, while he tends to be best-known for showing his competitiveness when it comes to business, it is interesting to note that he has shown it in other respects as well. For instance, Harris was pretty competitive when he wrestled in college, seeing as how it is a pursuit that calls for a huge commitment of time and effort from interested individuals. Besides this, Harris has shown a strong interest in various athletic pursuits as well, not least because he enjoys them.
5. Has Called the Need to Win His Disease
It is interesting to note that Harris has called the need to win his "disease." Certainly, it isn't difficult to imagine a scenario in which such tendencies can lead someone to take on more risk than what they are prepared to handle. However, based on Harris's successes, it seems safe to say that he has managed to handled those risks quite well so far. Even if there was that one time when a ski guide lead him to a bad patch of ground that could have ended poorly.
6. Remains Calm Under Pressure
When it comes to handling risk, Harris has been helped out by what other people have described as the ability to remain calm under pressure. Essentially, even when Harris has been thrust into a chaotic situation, he can remain focused on the important points before coming up with a plan as well as carrying out that plan to the best of his capabilities. Something that has enabled Harris to come out on top in a lot of challenging situations.
7. Co-Founded Apollo Global Management
Business-wise, Harris tends to be best-known for having co-founded Apollo Global Management, which is a public equity firm responsible for managing more than two hundred billion dollars' worth of investor commitments. In particular, it is famous for two things, with one being leveraged buyouts and the other being the buying up of distressed securities. As such, Apollo Global Management outright owns various companies, with some of the most notable examples ranging from Claire's to Caesar's Entertainment Corporation.
8. Principal Owner of Both the New Jersey Devils and the Philadelphia 76ers
Generally speaking, Harris should be best-known to people in North America for being the principal owner of both the New Jersey Devils and the Philadelphia 76ers. In both cases, the sports teams were faced with a situation very similar to that of the other business deals that Harris has carried out in the past. Simply put, both of the sports teams were saddled with considerable liabilities that were putting a serious strain on their ability to sustain, but in spite of that, they possessed plenty of assets as well as plenty of potential for further expansion, thus making them attractive for Harris plus other like-minded individuals.
9. Has an Ownership Stake in Crystal Palace
Besides the New Jersey Devils and the Philadelphia 76ers, Harris has an ownership stake in Crystal Palace as well, which is a South London-based professional football club that competes at the highest level of English professional football. With that said, Harris has just an 18 percent ownership stake in the football club, which is the same size as the ownership stakes held by both Steve Parish and David Blitzer. The rest of the ownership is held by various individuals and various entities, meaning that who owns what isn't 100 percent clear to the members of the public.
10. Has Been Mentioned in the News Because of Jared Kushner
Recently, Harris is known to have provided advice to the Trump administration on various infrastructure issues, with the result that he met Jared Kushner on multiple occasions. The idea of a potential job for him in the Trump administration never materialized, but soon afterwards, Apollo Global Management gave a $184 million loan to Kushner's real estate firm Kushner Companies to refinance a mortgage on a Chicago skyscraper. Something that has resulted in some raised eyebrows, not least because the sum is three times the size of the usual property loans offered by Apollo Global Management
Written by Allen Lee
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