Leon Black's Apollo Global And The Pursuit Of Twitter (10/25/25)

In April 2022, when Elon Musk made his $43–44 billion bid to buy Twitter, Apollo Global Management quickly surfaced as one of the major Wall Street firms exploring involvement. Reports from the Wall Street Journal and Sports Business Journal indicated that Apollo, which owned Yahoo and AOL through its portfolio, was considering helping finance Musk’s bid through preferred equity or debt financing. The firm was also exploring options to roll its existing digital assets—like Yahoo’s advertising infrastructure—into a broader partnership with Twitter after acquisition. The discussions positioned Apollo as one of the most significant institutional players potentially backing Musk, underscoring its appetite for high-profile tech and media investments. By October 2022, however, Reuters and PYMNTS confirmed that Apollo, along with Sixth Street Partners, had dropped out of negotiations. Sources familiar with the talks said the firms were “no longer in discussions” to participate in the financing package, citing uncertainties over Musk’s shifting deal terms and the platform’s long-term revenue trajectory. The withdrawal highlighted Apollo’s risk-management approach—balancing bold investment ambition with caution toward volatile technology assets. In the end, Musk closed the acquisition without Apollo’s participation, and the firm publicly moved on to other digital-media ventures. to contact me: [email protected]