Person

Larry Fink

Known for:

Co-founder, CEO, and Board Chairman of BlackRock

Philanthropist

See Also: BlackRock, Inc. (For-Profit)

Larry Fink is the co-founder, CEO, and Board Chairman of BlackRock, the world’s largest money management firm, where he has worked since 1988. [1] Fink is known for left-leaning politics, was a supporter of Hillary Clinton’s presidency in 2016 and has been discussed several times as a possible Democratic administration Secretary of the U.S. Treasury. [2]

Fink has made repeated public pronouncements regarding his intention to inject his left-of-center climate policy goals and an Environmental, Social, & Governance (ESG) ideology into BlackRock’s investment and management strategies. A 2019 report from the Fox Business Channel stated Fink had “ruffled feathers inside his company, as well as among some clients for embracing a number of progressive political causes and advocating what has been described as “corporate socialism” – a management concept that implores CEOs to run their companies in a way that doesn’t just benefit shareholders, but also “the communities in which they operate.”” One critic inside BlackRock told Fox Business that Fink had a fixation on “identity politics and virtue signaling that a CEO of a public company shouldn’t be engaged in.” Similarly, a corporate governance expert from the University of Delaware judged that BlackRock’s political agenda was “fundamentally not the role of a public company,” and that Fink’s behavior was “unfair to investors who may not agree with his politics.” [3] [4] [5]

Fink’s commitment to left-leaning climate policy has also been criticized from the left. A 2020 Wall Street Journal editorial was titled “Larry Fink’s Political Purgatory: The BlackRock CEO can’t seem to buy progressive absolution.” The Journal’s editors wrote that even as Fink had “promised to sell coal investments,” that offer didn’t spare BlackRock from multi-city protests by “climate ultras” meant to coincide with the firm’s annual meeting for shareholders. Protests included an online flyer claiming BlackRock was “the largest or second-largest shareholder in Big Oil giants” and “the biggest single investor in the 56 companies most responsible for building new coal plants in the developing world.” [6]

Background

Larry Fink was raised by an English professor mother and a shoe store owner father near Los Angeles, California. He majored in political science at UCLA before attending the university’s business school. After marrying, he went to work with First Boston in 1976 and began trading bonds. [7]

A 2010 Vanity Fair profile cited unnamed third-party estimates that Fink’s decade-long employment at First Boston increased the company’s bottom-line by approximately $1 billion. The Vanity Fair profile credits Fink as one of the first financial experts to develop the then-new market for trading mortgage-backed securities, a market that (according to the Vanity Fair profile) later “spiraled out of control” and would “bring the economy to its knees” as a major contributing factor in the 2008 housing market crash that led to the Great Recession. Fink also helped secure significant business deals for First Boston and this led to him becoming the company’s youngest managing director and member of its management committee. [8]

The Vanity Fair profile reported that Fink’s career at First Boston hit a severe setback in 1986, leading to what the firm claimed was an involuntary departure for Fink: [9]

And then, in the second quarter of 1986, his department lost $100 million. His traders had taken a huge position in the market based on Fink’s prediction that interest rates would rise. When rates suddenly dropped, not only were those trades wiped out but so were the hedges designed to offset them. Almost overnight, Fink says, he went “from a star to a jerk.” People stopped talking to him in the hallways; he was ostracized.

On Wall Street, the end of Fink’s career at First Boston is recalled as one of the more spectacular and humiliating “flameouts” on record. “Public and really awful,” recalls one top financier. Fink insists he was not fired, but Wall Street has many ways of getting rid of people. When he left First Boston, in the spring of 1988, after two years as persona non grata, the firm, in a nasty parting shot, made it publicly known that Fink’s departure was essentially forced. As the investment bank’s spokesman told The Wall Street Journal, “He did not have the option of staying in his current job.” [10]

BlackRock

History

In 1988, Fink co-founded BlackRock with other investment professionals. In the 1990s and early 2000s, Fink became known as a crisis asset manager for firms enduring bankruptcies and other financial difficulties. [11]

BlackRock is the world’s largest investment management company, with nearly $7.5 trillion in managed assets as of January 2020. [12] In April 2020, the company was tasked by the U.S. Federal Reserve Board to oversee the Fed’s program to inject money into the corporate bond market and help direct much as $750 billion in “lender of last resort” funding from the Federal Reserve for businesses struggling during the 2020 COVID-19-induced economic crisis. [13]

BlackRock was founded in 1988 and went public in 1999, using its proprietary risk management technology Aladdin to attract investors. Aladdin is used by government agencies and private organizations alike, such as the U.S. Treasury Department and the Federal Reserve. By the end of 1999, BlackRock was overseeing more than $165 billion in assets. [14] [15]

Over the next decade, two acquisitions and the 2008 financial crisis put BlackRock on top of the managed assets industry. The firm purchased Merrill Lynch Investment Management in 2006 and Barclay’s Global Investors in 2009, turning BlackRock into the largest asset manager in the world. [16]

During this period the Federal Reserve Bank of New York enlisted BlackRock to assess the value of mortgage-backed securities held by then-failing Bear Stearns. [17] Bear Stearns became one of the major harbingers of the Great Recession when its investments in risky mortgages reduced it from the fifth-largest investment bank in the world to being sold to J.P. Morgan for pennies on the dollar compared to its value just a few months earlier. [18]

BlackRock’s involvement with the New York Federal Reserve Board provided it $30 billion in former Bear Stearns assets to manage and enhanced the firm’s worldwide credibility. The firm became the monitor for $5 trillion held on the balance sheets of large investment and real estate corporations during the financial crisis, including $5 trillion held by the government-backed mortgage firms Freddie Mac and Fannie Mae. During this period BlackRock became an advisor to many organizations despite its own involvement in packaging risky securities. [19] [20]

As of 2019, retirement funds accounted for two-thirds of BlackRock’s investment portfolio. Because of this, BlackRock partnered with Microsoft in 2019 to provide technological and strategic assistance to help retirees and future retirees take advantage of company 401K programs, increase savings to plan for retirement, and otherwise consider long-term financial strategies. [21]

As of May 2020, BlackRock had 70 offices located in 30 countries. Its major clients have included, but are not limited to, the Bank of Ireland, AIG, the Bank of Greece, and UBS. The company regularly partners with international corporations like Google and Morgan Stanley. [22] In the firm’s 2019 annual report CEO Larry Fink stated BlackRock would be heavily investing in China because of trillions of dollars in potential assets to be managed. [23]

One of BlackRock’s most impactful technology and investment developments was the purchase of iShares from Barclay’s in 2012. [24] The program manages exchange-traded funds, or ETFs, which have lower investor costs, tax advantages, and overall greater investment gain than conventional mutual funds. [25] [26] iShares ETFs helped BlackRock exceed $7 trillion in assets under management in 2019 and drove investor confidence in the company’s stock at the beginning of 2020. [27]

Also, in 2020, BlackRock was retained as the manager of the Thrift Savings Plan investment portfolio, which then held an estimated $600 billion in retirement investments for millions of military members and federal employees. [28]

ESG Activism

Left-of-center Environmental, Social, & Governance (ESG) portfolios have become a major part of BlackRock’s non-profit and investor portfolios. In his January 2020 letter to CEOs, Fink wrote that his company “was a founding member of the Task Force on Climate-related Financial Disclosures” and was a signatory to both United Nations and Vatican documents related to climate change action. BlackRock is also part of the Climate Finance Partnership with other leading private entities and nations such as France and Germany. [29]

The 2020 letter letter to CEOs from Fink regarding BlackRock’s ESG priorities is just one example of many. In a February 2019 memo the firm promoted ESG-targeted investments as “the future of investing.” [30]

An April 15, 2020 letter from conservative leaders and right-leaning corporate CEOs urged BlackRock CEO Larry Fink to reconsider BlackRock’s ESG focus. By mixing the concerns of ESG stakeholders with those of shareholders—the latter to whom BlackRock has fiduciary duties—letter signers claimed Fink was causing three levels of harm:[31]

  • Placing left-leaning social and political goals ahead of maximizing investor earnings.
  • Increasing company costs to accommodate internal ESG investments, which the signers asserted would reduce shareholder capital and shareholder returns, and harm middle-class Americans’ financial, educational, and retirement goals.
  • Reducing the growth of investments. Citing the Wall Street Journal, the signers said that BlackRock’s iShares ESG funds—established in 2005 and 2006—have earned less for investors than BlackRock’s iShares’ S&P 500 index fund.

Signers also expressed concern over Fink’s endorsement of a 2019 letter from the Business Roundtable which outlined how BlackRock and other major corporations would value ESG stakeholder interests alongside shareholder interests. [32] A May 2020 National Review opinion piece noted that BlackRock’s ESG influence may go well beyond its direct investments and engagement—that as the largest asset management firm in the world, it can exert outsized market pressures that smaller shareholders opposed to an ESG-focus cannot. [33]

BlackRock’s has also been criticized for having major investments in China, where the dictatorial government frequently commits human rights violations and offends the principles espoused by left-leaning environmentalists and ESG investing proponents. [34] [35]

Criticism from the Left

The left-leaning Campaign for Accountability has criticized BlackRock through the BlackRock Transparency Project, which has accused BlackRock of violating employee rights, engaging in secretive conflict-of-interest work which leads to greater profits without transparency, and otherwise engaging in unethical corporate actions. [36]

The Transparency Project drew greater attention to BlackRock’s $340,000 fine ordered in 2017 by the U.S. Securities and Exchange Commission because BlackRock had ordered 1,000 departing employees to sign paperwork preventing the employees from financially benefiting if they reported illegal activity in line with whistleblower laws. Blackrock was accused of threating to not give those employees final compensation if they did not sign. [37]

The Blackrock Transparency Project also points to circumstances where BlackRock appeared to be using its influence to receive controversial benefits. [38] For example, BlackRock received three no-bid contracts during the 2008 real estate recession from then-Treasury Secretary Timothy Geithner,[39] and the firm was fined $3.52 million in Germany for flawed reporting and violations of regulatory deadlines. [40]

The American Prospect, a left-leaning journal, highlighted some of the Transparency Project’s research in a 2018 report which asserted that BlackRock was able to protect trillions of dollars in managed assets from the post-Great Recession Dodd-Frank law’s regulatory oversight. The Prospect also reported that BlackRock managed Mexican government pension funds while owning companies in which those funds were invested. [41]

A May 22, 2020, editorial from the Wall Street Journal was titled “Larry Fink’s Political Purgatory: The BlackRock CEO can’t seem to buy progressive absolution.” The Journal’s editors wrote that even as Fink had “promised to sell coal investments,” that offer didn’t spare BlackRock from multi-city protests by “climate ultras” meant to coincide with the firm’s annual meeting for shareholders. [42]

Protests included:

  • A “10-foot hot air balloon at BlackRock’s New York City headquarters with a banner “BlackRock: Hot Air on Climate.””[43]
  • An online flyer claiming BlackRock was “the largest or second-largest shareholder in Big Oil giants” and “the biggest single investor in the 56 companies most responsible for building new coal plants in the developing world.” [44]
  • A “People’s Assembly on BlackRock” hosted by U.S. Sen. Sheldon Whitehouse (D—R.I.) and U.S. Rep. Rep. Jesús García (D—Illinois). [45]

Political Views

Fink was a supporter of Hillary Clinton’s 2016 presidential campaign and has repeatedly been rumored as a possible Secretary of the U.S. Treasury Department under Democratic administrations, including in 2012 under President Barack Obama; in 2016 if Clinton had won; and again in 2020 as presumed Democratic Party presidential nominee and former U.S. Vice President Joe Biden’s campaign began publicly discussing possible administration officials. [46]

In January 2019, the Fox Business Channel reported on a BlackRock meeting at which Fink addressed 14,000 employees and promoted several left-leaning corporate policies the firm would be advancing:[47]

Laurence “Larry” Fink, the founder and chief executive of BlackRock, recently told the firm’s 14,000 employees that he is instituting potentially the most aggressive diversity program in Corporate America ensuring that, “a bunch of white men”, will no longer be running the world’s largest money management firm. [. . . ] Fink has ruffled feathers inside his company, as well as among some clients for embracing a number of progressive political causes and advocating what has been described as “corporate socialism” – a management concept that implores CEOs to run their companies in a way that doesn’t just benefit shareholders, but also “the communities in which they operate.” [48]

The Fox Business report, headlined “BlackRock’s Larry Fink rattles employees amid political posturing,” included the perspective of an internal critic of Fink’s agenda:[49]

“This isn’t about diversity,” said one BlackRock executive who spoke on the condition of anonymity about Fink’s remarks. “It’s about identity politics and virtue signaling that a CEO of a public company shouldn’t be engaged in.” [50]

Additionally, Fox Business quoted a business school professor who stated Fink’s goals should be shareholder focused rather than political: [51]

“This is fundamentally not the role of a public company and it’s unfair to investors who may not agree with his politics,” said Charles Elson, a corporate governance expert at the University of Delaware. “A CEO shouldn’t use house money to further a goal that may not create economic returns.” [52]

Associates of Fink interviewed by Fox Business speculated his strong shift to left-leaning policies at BlackRock reflected more his personal desires than business sense. [53] Such associates say the transformation may be an indication that Fink is looking at a political career when he is ready to retire from BlackRock. Fink had privately lamented he was not tapped as Treasury Secretary during the Obama years given his early support of the president, they add. [54]

While Fink is said to be enjoying the spotlight, fashioning himself as the liberal conscience of Corporate America, competitors and many people inside BlackRock are less comfortable with his political commentary. “Larry is such a blowhard,” said one senior executive who knows Fink and works at a rival bank. “He’s just looking for publicity. We all embrace diversity, this guy just loves to hear himself talk about it.” [55]

Similarly, a May 2020 editorial in the Wall Street Journal reported on Fink’s challenges with left-leaning critics and concluded: “We suspect his foremost goal is to be Joe Biden’s Treasury Secretary. Perhaps he is figuring out that the left will never forgive him for having made money as a capitalist, even if he now refuses to defend capitalism.” [56]

However, Fink supported the Republican-led tax reform law in 2017, though he criticized some of its components. [57] He was also a member of Republican Trump administration’s Strategic and Policy Forum, where he state the goal for the then-new U.S. President should be to aim for “true deregulation” to help the U.S. economy. [58]

References

  1. BlackRock, “Larry Fink.” Accessed May 12, 2020. https://www.blackrock.com/corporate/about-us/leadership/larry-fink ^
  2. Brian Schwartz, “Biden donors privately float big names, including Elizabeth Warren and Larry Fink, for key roles,” April 06, 2020. Accessed May 12, 2020. https://www.cnbc.com/2020/04/06/biden-donors-float-elizabeth-warren-larry-fink-others-for-key-roles.html ^
  3. Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  4. BlackRock, “A fundamental reshaping of finance.” Accessed May 12, 2020. https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter?cid=ppc:CEOLetter:PMS:US:NA ^
  5. BlackRock, “Sustainability: The future of investing,” February 01, 2019. Accessed May 12, 2020. https://www.blackrock.com/us/individual/insights/blackrock-investment-institute/sustainability-the-future-of-investing ^
  6. “Larry Fink’s Political Purgatory.” Wall Street Journal. May 22, 2020. Accessed May 28, 2020. https://www.wsj.com/articles/larry-finks-political-purgatory-11590189627?mod=article_inline ^
  7. Suzanna Andrews, “Larry Fink’s $12 trillion shadow,” March 02, 2010. Accessed May 12, 2020. https://www.vanityfair.com/news/2010/04/fink-201004 ^
  8. Suzanna Andrews, “Larry Fink’s $12 trillion shadow,” March 02, 2010. Accessed May 12, 2020. https://www.vanityfair.com/news/2010/04/fink-201004 ^
  9. Suzanna Andrews, “Larry Fink’s $12 trillion shadow,” March 02, 2010. Accessed May 12, 2020. https://www.vanityfair.com/news/2010/04/fink-201004 ^
  10. Suzanna Andrews, “Larry Fink’s $12 trillion shadow,” March 02, 2010. Accessed May 12, 2020. https://www.vanityfair.com/news/2010/04/fink-201004 ^
  11. Suzanna Andrews, “Larry Fink’s $12 trillion shadow,” March 02, 2010. Accessed May 12, 2020. https://www.vanityfair.com/news/2010/04/fink-201004 ^
  12. Saqib Iqbal Ahmed, “BlackRock profit beats estimates as assets top $7 trillion,” January 15, 2020. Accessed May 12, 2020. https://www.reuters.com/article/us-blackrock-results/blackrock-profit-beats-estimates-as-assets-top-7-trillion-idUSKBN1ZE1E4 ^
  13. Dawn Lim and Gregory Zuckerman, “BlackRock and Pimco take lead role in managing Federal Reserve’s coronavirus stimulus,” May 11, 2020. Accessed May 12, 2020. https://www.fnlondon.com/articles/blackrock-and-pimco-take-lead-role-in-managing-federal-reserves-coronavirus-stimulus-20200511 ^
  14. BlackRock Transparency Project, “BlackRock’s global juggernaut,” June 27, 2018. Accessed May 12, 2020. https://blackrocktransparencyproject.org/2018/06/27/blackrocks-global-juggernaut/# ^
  15. BlackRock, History. Accessed May 12, 2020. https://www.blackrock.com/corporate/about-us/blackrock-history ^
  16. BlackRock, History. Accessed May 12, 2020. https://www.blackrock.com/corporate/about-us/blackrock-history ^
  17. BlackRock, History. Accessed May 12, 2020. https://www.blackrock.com/corporate/about-us/blackrock-history ^
  18. History.com, “Bear Stearns collapses, sold to J.P. Morgan Chase,” March 16, 2008. Accessed May 12, 2020. https://www.history.com/this-day-in-history/bear-stearns-sold-to-j-p-morgan-chase ^
  19. Matthew Goldstein, “NY Fed reveals its Bear Stearns portfolio,” March 31, 2010. Accessed May 12, 2020. https://www.reuters.com/article/bearstearns-portfolio/ny-fed-reveals-its-bear-stearns-portfolio-idUSN3124212420100331 ^
  20. Suzanna Andrews, “Larry Fink’s $12 trillion shadow,” March 02, 2010. Accessed May 12, 2020. https://www.vanityfair.com/news/2010/04/fink-201004 ^
  21. Tobias Salinger, “How BlackRock and Microsoft are attacking the retirement savings gap,” July 17, 2019. Accessed May 12, 2020. https://www.financial-planning.com/news/blackrock-microsoft-developing-401-k-retirement-tool ^
  22. BlackRock, “Global impact.” Accessed May 12, 2020. https://www.blackrock.com/corporate/about-us/global-impact ^
  23. BlackRock, “2019 annual report.” Accessed May 12, 2020. https://s24.q4cdn.com/856567660/files/doc_financials/2019/ar/BlackRock-2019-Annual-Report.pdf ^
  24. Business Wire, “BlackRock agrees to acquire Barclays Global Investors, including its market-leading iShares business,” June 11, 2009. Accessed May 12, 2020. https://www.businesswire.com/news/home/20090611006181/en/BlackRock-Agrees-Acquire-Barclays-Global-Investors-Including ^
  25. BlackRock, History. Accessed May 12, 2020. https://www.blackrock.com/corporate/about-us/blackrock-history ^
  26. Dan Irvine, “Exchange traded funds: Innovation from the ashes of past financial crises,” July 23, 2018. Accessed May 12, 2020. https://3summit.com/exchange-traded-funds-innovation-from-the-ashes-of-past-financial-crises/ ^
  27. Alexander Ortner, “BlackRock earnings grew by over 40% in the fourth quarter,” January 22, 2020. Accessed May 12, 2020. https://www.fool.com/investing/2020/01/22/blackrock-earnings-grew-by-over-40-in-the-fourth-q.aspx ^
  28. Brian Croce, “Federal Retirement Thrift sticks with BlackRock, will name second manager later,” February 24, 2020. Accessed May 12, 2020. https://www.pionline.com/searches-and-hires/federal-retirement-thrift-sticks-blackrock-will-name-second-manager-later ^
  29. BlackRock, “A fundamental reshaping of finance.” Accessed May 12, 2020. https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter?cid=ppc:CEOLetter:PMS:US:NA ^
  30. BlackRock, “Sustainability: The future of investing,” February 01, 2019. Accessed May 12, 2020. https://www.blackrock.com/us/individual/insights/blackrock-investment-institute/sustainability-the-future-of-investing ^
  31. National Center for Public Policy Research, “15 Apr 2020 open letter to BlackRock CEO Larry Fink.” Accessed May 12, 2020. https://nationalcenter.org/ncppr/2020/04/15/open-letter-to-blackrock-ceo-larry-fink/ ^
  32. Business Roundtable, “Our commitment.” Accessed May 12, 2020. https://opportunity.businessroundtable.org/ourcommitment/ ^
  33. Andrew Stuttaford, “How advocates of ‘corporate social responsibility’ distort shareholder power,” May 06, 2020. Accessed May 12, 2020. https://www.nationalreview.com/2020/05/corporate-social-responsibility-advocates-distort-shareholder-power/ ^
  34. James Lord, “BlackRock launches MSCI China ETF in Europe,” June 25, 2019. Accessed May 12, 2020. https://www.etfstrategy.com/blackrock-launches-msci-china-etf-in-europe-94578/ ^
  35. Ben Weingarten, “Letter to Fed: Shareholders should drive investing, not social justice warriors.” Accessed May 12, 2020. https://thefederalist.com/2020/04/17/letter-to-fed-shareholders-should-drive-investing-not-social-justice-warriors/ ^
  36. BlackRock Transparency Project, Mission Statement. Accessed May 12, 2020. https://blackrocktransparencyproject.org/mission-statement/ ^
  37. Richard L. Cassin, “SEC: BlackRock impeded whistleblower rights,” January 17, 2017. Accessed May 12, 2020. https://fcpablog.com/2017/1/17/sec-blackrock-impeded-whistleblower-rights/ ^
  38. BlackRock Transparency Project, “BlackRock’s global juggernaut,” June 27, 2018. Accessed May 12, 2020. https://blackrocktransparencyproject.org/2018/06/27/blackrocks-global-juggernaut/# ^
  39. Jo Becker and Gretchen Morgenson, “Geithner, member and overseer of finance club,” April 26, 2009. Accessed May 12, 2020. https://www.nytimes.com/2009/04/27/business/27geithner.html?mtrref=undefined ^
  40. Julian Claudi, “BlackRock hit by hefty fine in Germany,” March 23, 2015. Accessed May 12, 2020. https://www.dw.com/en/blackrock-hit-by-hefty-fine-in-germany/a-18334574 ^
  41. David Dayen, “How BlackRock rules the world,” September 27, 2018. Accessed May 12, 2020. https://prospect.org/economy/blackrock-rules-world/ ^
  42. “Larry Fink’s Political Purgatory.” Wall Street Journal. May 22, 2020. Accessed May 28, 2020. https://www.wsj.com/articles/larry-finks-political-purgatory-11590189627?mod=article_inline ^
  43. “Larry Fink’s Political Purgatory.” Wall Street Journal. May 22, 2020. Accessed May 28, 2020. https://www.wsj.com/articles/larry-finks-political-purgatory-11590189627?mod=article_inline ^
  44. “Larry Fink’s Political Purgatory.” Wall Street Journal. May 22, 2020. Accessed May 28, 2020. https://www.wsj.com/articles/larry-finks-political-purgatory-11590189627?mod=article_inline ^
  45. “Larry Fink’s Political Purgatory.” Wall Street Journal. May 22, 2020. Accessed May 28, 2020. https://www.wsj.com/articles/larry-finks-political-purgatory-11590189627?mod=article_inline ^
  46. [1] Brian Schwartz, “Biden donors privately float big names, including Elizabeth Warren and Larry Fink, for key roles,” April 06, 2020. Accessed May 12, 2020. https://www.cnbc.com/2020/04/06/biden-donors-float-elizabeth-warren-larry-fink-others-for-key-roles.html ^
  47. [1] Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  48. [1] Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  49. [1] Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  50. Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  51. Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  52. Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  53. Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  54. Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  55. Charlie Gasparino and Lydia Moynihan, “BlackRock’s Larry Fink rattles employees amid political posturing,” January 25, 2019. Accessed May 12, 2020. https://www.foxbusiness.com/business-leaders/blackrocks-larry-fink-rattles-employees-amid-political-posturing ^
  56. “Larry Fink’s Political Purgatory.” Wall Street Journal. May 22, 2020. Accessed May 28, 2020. https://www.wsj.com/articles/larry-finks-political-purgatory-11590189627?mod=article_inline ^
  57. Matthew J. Belvedere, “BlackRock CEO Larry Fink: GOP tax law will do ‘wonderful things,’ adding 1% to economic growth,” January 12, 2018. Accessed May 12, 2020. https://www.cnbc.com/2018/01/12/blackrock-larry-fink-gop-tax-law-will-largely-do-wonderful-things.html ^
  58. Tae Kim, “Full interview with BlackRock CEO Larry Fink on Trump, computer trading and the economy,” April 06, 2017. Accessed May 12, 2020. https://www.cnbc.com/2017/04/06/full-interview-with-blackrocks-larry-fink-on-trump-and-the-economy.html ^

Connected Organizations

  1. BlackRock, Inc. (For-profit)
    Co-Founder, CEO, and Board Chairman
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