Leon Black of Apollo Global Management, which took control of Vail Associates in 1992. Art Seitz/Abaca Press, via APA lawsuit alleging rape charges against Leon Black, the private equity investor who founded the modern Vail Resorts , has been discontinued. The stipulation from Judge Suzanne Adams says “the complaint as against Defendant Leon Black is hereby discontinued with prejudice and without costs to any party as against the other,” according to the filing . Black also founded a spin-off company, Apollo Ski Partners, which took over Vail when Gillett couldn’t pay off what he owed to Drexel Burnham Lambert. Apollo later dissolved its stake in Vail Resorts in 2004, but Katz stayed with the company, becoming Vail Resorts CEO in 2006.

Source: Forbes February 22, 2024 18:01 UTC