Former Apollo Global Management CEO Leon Black testified that he paid $21 million to a woman to keep an affair secret, citing blackmail.

Former Apollo Global Management CEO Leon Black told the US House Oversight Committee he paid $21 million to a woman with whom he had an affair. Black testified during a June 26 interview that he made the payment to resolve what he described as blackmail and extortion. The interview was part of a congressional investigation into the late convicted sex offender Jeffrey Epstein.

Details of the financial settlement

Black stated that the woman originally demanded $100 million, claiming he had ruined her life. He agreed to pay $21 million in installments over 15 years in exchange for a nondisclosure agreement. Black acknowledged the sum was large but said he chose to settle to prevent the affair from becoming public, noting his position as a public company chair and his family life. Black confirmed he discussed the financial arrangement with Epstein, who managed some of his estate planning. While the transcript released on Friday redacted the names of the women involved, the $100 million demand matches the amount sought by Black’s former mistress, Guzel Ganieva, in 2015.