Is APO (Apollo Global Management, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, APO is Not Halal (Haram) and is not considered permissible for Muslim investors. It failed 2 of 4 compliance screens. Apollo Global Management, Inc.'s core business activity was found to be non-compliant. Its cash & securities ratio of 346.08% exceeds the ≤33% threshold.

Apollo Global Management, Inc. is a massive alternative asset manager specializing in private equity, credit, and real estate markets. The firm generates revenue by managing assets for institutional investors, engaging in traditional buyouts, distressed debt investments, and corporate restructuring. For Muslim investors, APO is classified as Not Halal (Haram) and should be avoided. The stock fails the core business activity screen due to its heavy involvement in conventional credit and debt markets, alongside failing the cash and securities screen by a significant margin. From a financial screening perspective, Apollo's cash and securities to market cap ratio is extremely high at 346.1%, violating the 33% AAOIFI threshold due to the nature of asset management balance sheets. Interestingly, its debt to market cap ratio passes at 18.6%, and interest income to revenue is minimal at 0.27%, but this does not offset the non-compliant core operations. Because Apollo's primary business model relies heavily on conventional financial services, leveraged buyouts, and interest-bearing debt instruments, there is no scholarly debate regarding its non-compliance. Islamic investors must look toward shariah-compliant real estate or equity funds instead. Apollo Global Management, Inc. operates in the Financial Services sector under the Asset Management - Global industry and is headquartered in New York City, NY, US. The company is led by CEO Marc Jeffrey Rowan and employs approximately 5,141 people.

APO was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. APO passed 2 of these 4 screens.

APO was last screened on 2026-04-27. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.