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Apollo Lands in Washington

As Apollo C.E.O. Marc Rowan prepares to meet with Trump over the Treasury job, a bildungsroman of his professional and deal career—from parking cars at the Diplomat Hotel to big mergers for junk bond casualty Drexel Burnham—and his reflections from our many conversations over the past years and days.

Marc Rowan
If Trump chooses Marc, it will be the most rational decision that the president-elect has made since descending the escalator at Trump Tower, in June 2015. Photo: Victor J. Blue/Bloomberg/Getty Images
William D. Cohan
November 21, 2024

Marc Rowan is almost certainly too normal to be Donald Trump’s treasury secretary, especially in a cabinet composed mostly of quasi-lunatics without any qualifications for their jobs. Nevertheless, I’m told that Marc is flying back from Hong Kong to meet Trump at Mar-a-Lago today, and that the position is his to lose. In fact, assuming the two men get along, an announcement could be imminent. As everyone on Wall Street knows, you don’t get many chances to be treasury secretary. If chosen and confirmed, Rowan would be the wealthiest treasury secretary ever—even wealthier than his new boss.