The son of a billionaire linked to Jeffrey Epstein is pending confirmation for a major foreign aid position in the Trump administration.
President Donald Trump appointed Benjamin Black to be chief executive officer of the United States International Development Finance Corporation (DFC), which helps mobilize private capital to “advance U.S. foreign policy and strengthen national security.”
The nominee’s father, private equity firm Apollo Global Management co-founder Leon Black, was “friendly” with Epstein, paying him least $158 million for advice on tax issues, philanthropy, estate planning and other matters related to “the operation of the Family Office,” according to a 2021 report by the law firm Dechert LLP.
The report was commissioned by Apollo Global Management’s board of directors following New York Times reports of Black’s payments to Epstein. It found “no evidence that Black or any employee of the Family Office or Apollo was involved in any way with Epstein’s criminal activities at any time.”
The amount Black paid is likely $12 million higher than indicated in Dechert LLP’s report, Senate Finance Committee staff found in a review of federal government records and other evidence.
Democratic Oregon Sen. Ron Wyden sent a letter requesting documents from the Department of Justice (DOJ) and the U.S. Treasury Department “related to individuals, financial institutions, attorneys and agents that may have known about or facilitated the financing of Epstein’s illegal activities” in March.
“I am concerned that Attorney General Bondi’s February 27th release of documents related to the Epstein case failed to provide any meaningful new information, and that many of these documents were already in the public domain—similar concerns have been raised by Democrats and Republicans alike,” Wyden wrote. “It is crucial that your agencies provide the Committee with the requested documents in order to further its ongoing investigation, and to ensure that the Trump Department of Justice does not sweep any case against high profile individuals associated with Epstein’s activities under the rug.”
Leon Black also entered into a $62.5 million settlement with the U.S. Virgin Islands granting him immunity from any claims related to the Epstein sex trafficking investigation, the NYT reported in 2023. Epstein’s private Little St. James island in the U.S. Virgin Islands is where his alleged child sex trafficking operation took place.
The settlement should not be “taken as or construed to be an admission by Black of any liability or of any violation of any law,” the document states.
Benjamin Black has never been accused of ties to Epstein, and Leon Black has denied knowing about Epstein’s crimes and expressed regret about having any involvement with him.
Benjamin Black did not respond to a request for comment. The Senate Committee on Foreign Relations and leadership of the Senate Committee on Finance did not respond to requests for comment.
Leon Black, founder of Apollo Global Management, paid Epstein $158 million for “tax advice.” In 2023, Black paid $62M for immunity in an Epstein suit, admitting his money helped fund Epstein’s operations. In January, Donald Trump appointed Leon Black’s son—apparently unexpectedly pic.twitter.com/PYJeJgIJhF
— Roger Sollenberger (@SollenbergerRC) July 8, 2025
Trump announced Benjamin Black’s nomination in January, writing on Truth Social that he would “use his financial acumen and broad dealmaking expertise to ensure that our Investments around the World benefit our Citizens, and strengthen our Country.”
“His successful career has spanned the fields of Investing, Law, and Public Policy, and he will draw from this broad experience to deliver historic results for the American People,” Trump wrote. “Ben will demand that WHEN OUR NATION INVESTS, THE UNITED STATES OF AMERICA COMES FIRST.”
His nomination cleared the Senate Committee on Foreign Relations on June 18 and is awaiting a vote by the full Senate.
Benjamin Black began as an analyst for Goldman Sachs, was an associate at his father’s firm Apollo Global Management and later founded his own firm, Fortinbras Enterprises, according to his LinkedIn profile. He has expressed a hope to shift resources from the United States Agency for International Development (USAID) to DFC to focus on creating a “pro-market” culture through investments.
“If confirmed, I will do my utmost to integrate and partner with private sector capital providers and investors to effectively scale capital deployment, increase opportunities for American companies and workers, and help DFC become a best in class financial institution and resource for the United States,” Benjamin Black said during his opening statement at his June confirmation hearing.
In a January column with Palantir co-founder Joe Lonsdale, Benjamin Black said much of the current foreign aid budget “is waste and should be cut given our massive deficit.”
“But if we are going to spend money abroad, let’s do so with an investment-driven model focused on strategic project finance initiatives, and pro-market SBA-like loans and equity for small business entrepreneurs,” Lonsdale and Black wrote.
Meanwhile, the Trump administration has been taking heat from supporters for its handling of the Epstein files.
The Trump DOJ concluded Epstein killed himself and had no client list, according to a memo. Trump criticized a reporter Tuesday for asking about Epstein amid other disasters, like tragic floods in Central Texas.
“Are you still talking about Jeffrey Epstein?” Trump asked. “This guy’s been talked about for years. We have Texas, we have this, we all of the things … And are people still talking about this guy? This creep? That is unbelievable … I mean, I can’t believe you’re asking a question about Epstein at a time like this where we’re having some of the greatest success and also tragedy with what happened in Texas. It just seems like a desecration.”
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