An envelope tracking (ET) power management apparatus incorporating multiple power amplifiers is provided. The ET power management apparatus includes a single ET integrated circuit (ETIC) configured to provide multiple ET voltages to the multiple power amplifiers for amplifying a radio frequency (RF) signal concurrently. The ETIC includes multiple first ET voltage circuits configured to generate multiple first ET voltages and a second ET voltage circuit configured to generate a second ET voltage. The ETIC is configured to provide each of the first ET voltages to an output stage amplifier(s) in a respective one of the power amplifiers and provide the second ET voltage to a driver stage amplifier in all of the power amplifiers. By supporting the multiple power amplifiers using a single ETIC, it is possible to reduce footprint, power consumption, and heat dissipation in an electronic device employing the ET power management apparatus.