This is one of those stories that would be symbolic and metaphorical if found in a piece of fiction. Leon Black, founder of Apollo Capital Management, has lost his beloved indoor tennis courts to a fire. The indoor tennis courts resided on Black’s $7.5 millon Bedford estate:
An outbuilding housing indoor tennis courts on the $7.5 million estate of billionaire financier Leon Black burned to the ground today despite efforts from firefighters from Bedford, Bedford Hills, Katonah and several neighbouring departments.
The sprawling structure is located in the rear of Black’s 60-acre estate, called Crowfield, at 190 Narrows Road off Guard Hill Road. It was a large white structure, several thousand square feet in size, with steel beams. According to town records, it was similar to a gymnasium or a field house.
This has to be a rough one for Black, following a year in which is firm suffered badly — even relative to other PE firms. The latest blow: A judge recently compelled Hexion to complete its acquisition of Huntsman, leaving Apollo on the hook for a nice slug of cash. Sorry, you probably just want another picture.
Also, the comments on the original article offer a great glimpse into the seething resentment towards the mega-wealthy in post-bailout America.