Leon Black Settles Epstein-Related Claims for $62.5 Million

Billionaire investor Leon Black has agreed to pay $62.5 million to the U.S. Virgin Islands to settle any potential claims related to the territory's investigation into Jeffrey Epstein's sex trafficking operation. The settlement, which was previously undisclosed, followed a $105 million deal between the Virgin Islands and Epstein's estate. Black's ties to Epstein, including paying him $158 million for tax and estate planning services, had become a source of embarrassment for him. Black stepped down as chairman and CEO of Apollo Global Management in 2021 and also resigned as chairman of the Museum of Modern Art. The settlement does not imply any admission of liability by Black.