Benjamin Black is an American investor and Chief Executive Officer of the U.S. International Development Finance Corporation (DFC). [1] He is the founder and managing partner of Fortinbras Enterprises and the CEO of Osiris Acquisition Corp, with a career spanni
Benjamin Black | |
|---|---|
| Chief Executive Officer of the U.S. International Development Finance Corporation | |
| Assumed office October 7, 2025 | |
| Appointed by | President Donald J. Trump |
| President | Donald J. Trump |
| Preceded by | Scott Nathan |
| Personal details | |
| Political party | Republican |
| Education | University of Pennsylvania (BA) Harvard University (JD and MBA) |
ng roles in private equity,corporate law,and credit investing. Black has held positions at firms including Apollo Global Management,Goldman Sachs,and Sullivan &Cromwell,and has served on the boards of various companies and nonprofit organizations.
A graduate of the University of Pennsylvania,Harvard University,and New York University School of Law,Black has earned multiple advanced degrees. In 2025,he gained attention during the DFC nomination process for his policy views on foreign aid and U.S. development strategy,and for his proposed approach to aligning the DFC’s investment portfolio with U.S. strategic interests.
Black is the son of Leon Black,a noted New York entrepreneur and Debra Black.
Black holds degrees from several universities. He earned a Bachelor of Arts in history from the University of Pennsylvania,graduating cum laude. He later completed a Juris Doctor and a Master of Business Administration at Harvard University. In 2020,he received a Master of Laws in Taxation from New York University School of Law. [2] [3]
In addition to his degrees,Black is an alumnus of Harvard’s John F. Kennedy School of Government. [4] During his confirmation hearing,Senator Tom Cotton noted Black’s academic background,commenting that he had “more degrees than a thermometer”. [5]
Black has worked in credit and equity investing,holding senior roles at financial firms and serving on several boards. [6] [7]
Earlier in his career,he worked in private equity at Apollo Global Management,co-founded by his father,Leon Black. He also held roles as an analyst at Goldman Sachs in 2007 [8] and as a corporate attorney at Sullivan &Cromwell. [6] [7]
In October 2020,Black founded Fortinbras Enterprises,a New York-based credit investment fund. As of the latest regulatory filing,the firm manages $122 million in assets. [5] [6] [7] [8] [3]
If confirmed to his nominated position,Black is expected to step down from his role but retain a financial interest and receive passive income from the firm. [9]
Black serves as CEO and director of Osiris Acquisition Corp,a special purpose acquisition company (SPAC),which is a type of firm created to raise money through an initial public offering for the purpose of acquiring another company. [2] [3] [5] He was involved in raising capital for the firm. [8] [10]
Black previously served as senior portfolio manager at Knowledge Universe Holdings,where he oversaw the credit portfolio. [5] [6] [7] He was also a principal and co-founder of OCB Partners. [5]
On June 18,2025,Benjamin Black was nominated by President Donald Trump to serve as CEO of the U.S. International Development Finance Corporation,succeeding Scott A. Nathan following his resignation. The nomination was placed on the Senate Executive Calendar as Calendar No. 194,pending Black’s agreement to appear and testify before any Senate committee if requested. [11] In announcing the nomination,President Trump said Black would apply his financial and deal-making experience to advance U.S. interests abroad. [8] [12]
The nomination drew attention due to his limited background in foreign policy and legislative affairs. [3] [10] [8]
On October 7,2025,he was confirmed. [13]
Black co-authored a Substack essay with entrepreneur Joe Lonsdale in January 2025 titled “How to DOGE US Foreign Aid,”which attracted attention during his nomination process. [3] [14] [8] [10] In the essay,he criticized the U.S. Agency for International Development (USAID) for what he described as “mission drift”and questioned funding for initiatives such as gender equity and green energy programs. [8] He advocated for reallocating portions of USAID’s budget to the U.S. International Development Finance Corporation (DFC) to support pro-market foreign investments that align with U.S. strategic and economic interests. [8]
Black proposed that the DFC take on greater investment risk,attract private capital,and focus on strategic sectors,including infrastructure projects such as ports and mines in locations like Greenland. [15]
As the nominee to lead the DFC,Black testified before the Senate Foreign Relations Committee about the agency’s future under his potential leadership. Black emphasized the DFC’s dual mandate to support economic development and advance U.S. foreign policy goals,stating that he does not view the two objectives as conflicting. [16] Senator Tom Cotton,who introduced him,described him as an “America First patriot”and stated that Black would bring “a wide range of experience and expertise”to the role. [4] [5]
In his opening statement before the committee,Black stated that,if confirmed,he looked forward to working with Congress to expand the DFC’s capabilities and capacity to fulfill its responsibilities. [4]
According to his ethics filing,Black reported personal assets of at least $219 million,including art,memorabilia,rare books,and investments in various companies. His holdings include a brokerage account,shares in blue chip stocks,and interests in funds managed by Apollo Global Management Inc. He is also the beneficiary of a discretionary trust that distributed $54 million to him over a 14-month period. [9]
Black serves on the boards of several organizations,including Dogpound,Huddle House,and Phaidon. [2] He is also a board member of Peninsula Real Estate,the Melanoma Research Alliance,and the Naval War College Foundation. [6] In addition,he is a member of the Global Advisory Council of the Woodrow Wilson Center and serves on the Advisory Board of Harvard’s Center for Public Leadership. [6] [5]
Black and his family established the Black Family Fellowship in honor of his grandfather,Ira Ressler,a decorated World War II veteran. The fellowship supports U.S. veterans and active-duty military personnel attending Harvard Kennedy School,Harvard Business School,and Harvard Law School by providing financial assistance and professional development opportunities. [2] [7]
From 2015 to 2020,he was a term member of the Council on Foreign Relations. [2]