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Sep 12, 2026 50 min

The Private Equity Confidence Game

from Slate Money

This week: The new book Money to Burn goes deep on private-equity behemoth Apollo Global Management and its billionaire cofounder and former CEO, Leon Black. Felix Salmon, Elizabeth Spiers, and Emily Peck are joined by author William D. Cohan to talk about his reporting on Black’s investment empire and what it means for Wall Street to be dominated by private equity. They also get into Black’s tragic origin story, messy personal scandals, and strange friendship with Jeffrey Epstein. In the Slate Plus episode: Your $5K Check’s in the Mail Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli.

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The Private Equity Confidence Game

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This episode was published on September 12, 2026.

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