BlackRock

Short description: American multinational investment management corporation

BlackRock, Inc.

Headquarters at 50 Hudson Yards, New York City

Type| Public

Traded as

* NYSE: BLK
* S&P 100 component
* S&P 500 component

ISIN| [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=US450614482+US450614482]">[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=US450614482 US450614482]
Industry| Investment management
Founded| 1988; 36 years ago (1988)
Founders|

* Robert S. Kapito
* Larry Fink
* Susan Wagner

Headquarters| 50 Hudson Yards
New York City, U.S.

Area served

| Worldwide

Key people

* Larry Fink
(Chairman and CEO)
* Robert S. Kapito
(President)
* Philipp Hildebrand
(Vice chairman)

Products|

* Asset management
* Risk management
* Mutual funds
* Exchange-traded funds
* Index funds

Revenue|  US$17.87 billion (2022)

Operating income

|  US$6.39 billion (2022)

Net income

|  US$5.18 billion (2022)
AUM|  US$8.59 trillion (2022)
Total assets|  US$117.6 billion (2022)
Total equity|  US$37.74 billion (2022)

Number of employees

| 19,800 (December 2022)
Subsidiaries| iShares
Website| blackrock.com
Footnotes / references
[1][2]

BlackRock, Inc. is an American multinational investment company. It is the world's largest asset manager, with $9.42 trillion in assets (As of June 2023).[3] Headquartered in New York City , Blackrock has 70 offices in 30 countries, and clients in 100 countries.[1] BlackRock is the manager of the iShares group of exchange-traded funds, and along with The Vanguard Group and State Street, it is considered to be one of the Big Three index fund managers.[4][5] Its Aladdin software keeps track of investment portfolios for many major financial institutions and its BlackRock Solutions division provides financial risk management services.[6] As of 2023, BlackRock was ranked 229th on the Fortune 500 list of the largest United States corporations by revenue.[7]

BlackRock has sought to position itself as an industry leader in environmental, social, and corporate governance (ESG). It has been criticized for investing in companies that are involved in fossil fuels, the arms industry, the People's Liberation Army and human rights violations in China. Others have scrutinized BlackRock for its efforts to reduce its investments in companies that have been accused of contributing to climate change and gun violence and its promotion of gender diversity; the U.S. states of West Virginia, Florida, and Louisiana have divested money away from or refuse to do business with the firm because of its ESG policies. The company has also faced criticism for its close ties with the Federal Reserve during the COVID-19 pandemic.

## Contents

* 1 History
* 1.1 1988–1999
* 1.2 1999–2009
* 1.3 2010–2019
* 1.4 2020–present
* 2 Finances
* 3 Mergers and acquisitions
* 4 Issues
* 4.1 Influence and power
* 4.2 Environmental, social and corporate governance investing
* 4.3 Investments in contributors to climate change
* 4.4 Investments in gun manufacturers
* 4.5 BlackRock study on integrating ESG into banking rules
* 4.6 U.S. states refusing to do business with BlackRock due to ESG policies
* 4.7 Criticism of investments in China
* 4.8 Ties with Federal Reserve
* 4.9 Involvement in reconstruction of Ukraine
* 5 Key people
* 6 Associated organizations
* 7 See also
* 8 References
* 9 Further reading
* 10 External links

## History

### 1988–1999

BlackRock was founded in 1988 by Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, and Keith Anderson[8] to provide institutional clients with asset management services from a risk management perspective.[9] Fink, Kapito, Golub and Novick had worked together at First Boston, where Fink and his team were pioneers in the mortgage-backed securities market in the United States.[10] During Fink's tenure, he had lost $90 million as head of First Boston. That experience was the motivation to develop what he and the others considered to be excellent risk management and fiduciary practices. Initially, Fink sought funding (for initial operating capital) from Pete Peterson of The Blackstone Group who believed in Fink's vision of a firm devoted to risk management. Peterson called it Blackstone Financial Management.[11] In exchange for a 50 percent stake in the bond business, initially Blackstone gave Fink and his team a $5 million credit line. Within months, the business had turned profitable, and by 1989 the group's assets had quadrupled to $2.7 billion. The percent of the stake owned by Blackstone also fell to 40%, compared to Fink's staff.[11]

By 1992, Blackstone had a stake equating to about 36% of the company, and Stephen A. Schwarzman and Fink were considering selling shares to the public.[12] The firm adopted the name BlackRock, and was managing $17 billion in assets by the end of the year. At the end of 1994, BlackRock was managing $53 billion.[13] In 1994, Schwarzman and Fink had an internal dispute over methods of compensation and equity.[12] Fink wanted to share equity with new hires, to lure talent from banks, unlike Schwarzman, who did not want to further lower Blackstone's stake.[12] They agreed to part ways, and Schwarzman sold BlackRock, a decision he later called a "heroic mistake."[12][14] In June 1994, Blackstone sold a mortgage-securities unit with $23 billion in assets to PNC Financial Services for $240 million.[15] The unit had traded mortgages and other fixed-income assets, and during the sales process the unit changed its name from Blackstone Financial Management to BlackRock Financial Management.[12] Schwarzman remained with Blackstone, while Fink became chairman and CEO of BlackRock.[12]

### 1999–2009

On October 1, 1999, BlackRock became a public company, selling shares at $14 each via an initial public offering on the New York Stock Exchange.[16][13][17] By the end of 1999, BlackRock was managing $165 billion in assets.[13] BlackRock grew both organically and by acquisition. In 2000, under the direction of Charles Hallac, BlackRock launched BlackRock Solutions, its analytics and risk management division. The division grew from the Aladdin System, the enterprise investment system, Green Package, the Risk Reporting Service, PAG (portfolio analytics), and AnSer, the interactive analytics.[6] In August 2004, BlackRock made its first major acquisition, buying State Street Research & Management's holding company SSRM Holdings, Inc. from MetLife for $325 million in cash and $50 million in stock. The acquisition increased BlackRock's assets under management from $314 billion to $325 billion.[18] The deal included the mutual-fund business State Street Research & Management in 2005.[15]

BlackRock merged with Merrill's Investment Managers division (MLIM) in 2006,[13][19] halving PNC's ownership and giving Merrill a 49.5% stake in the company.[20] In October 2007, BlackRock acquired the fund-of-funds business of Quellos Capital Management.[21][22] BlackRock Solutions was retained by the U. S. Treasury Department in May 2009[23] to analyze, unwind, and price the toxic assets that were owned by Bear Stearns, American International Group, Freddie Mac, Morgan Stanley, and other financial firms that were affected in the 2007–2008 financial crisis.[24][25] The Federal Reserve allowed BlackRock to superintend the $130 billion-debt settlement of Bear Stearns and American International Group.[26] In 2009, BlackRock became the largest asset manager worldwide.[15] In April 2009, BlackRock acquired R3 Capital Management, LLC and management of its $1.5 billion fund.[27]

### 2010–2019

In February 2010, to raise capital needed during the financial crisis, Barclays sold its Global Investors unit (BGI), which included its exchange traded fund business, iShares, to BlackRock for US$13.5 billion and Barclays acquired a near-20% stake in BlackRock.[28][29] On April 1, 2011, BlackRock was added as a component of the S&P 500 stock market index.[30][31] In 2013, Fortune listed BlackRock on its annual list of the world's 50 Most Admired Companies.[15] In 2014, BlackRock's $4 trillion under management made it the "world's biggest asset manager".[32] At the end of 2014, the Sovereign Wealth Fund Institute reported that 65% of Blackrock's assets under management were made up of institutional investors.[33]

By June 30, 2015, BlackRock had US$4.721 trillion of assets under management.[34] On August 26, 2015, BlackRock entered into a definitive agreement to acquire FutureAdvisor,[35] a digital wealth management provider with reported assets under management of $600 million.[36] Under the deal, FutureAdvisor would operate as a business within BlackRock Solutions (BRS).[35] BlackRock announced in November 2015 that they would wind down the BlackRock Global Ascent hedge fund after losses. The Global Ascent fund had been its only dedicated global macro fund, as BlackRock was "better known for its mutual funds and exchange traded funds." At the time, BlackRock managed $51 billion in hedge funds, with $20 billion of that in funds of hedge funds.[37]

In March 2017, BlackRock, after a six-month review led by Mark Wiseman, initiated a restructuring of its $8bn actively-managed fund business, resulting in the departure of seven portfolio managers and a $25m charge in Q2, replacing certain funds with quantitative investment strategies.[38] By April 2017, iShares business accounted for $1.41tn, or 26 percent, of BlackRock's total assets under management, and 37 percent of BlackRock's base fee income.[39] In April 2017, BlackRock backed the inclusion of mainland Chinese shares in MSCI's global index for the first time.[40]

### 2020–present

In January 2020, PNC Financial Services sold its stake in BlackRock for $14.4 billion.[41] In March 2020, the Federal Reserve chose BlackRock to manage two corporate bond-buying programs in response to the COVID-19 pandemic, the $500 billion Primary Market Corporate Credit Facility (PMCCF) and the Secondary Market Corporate Credit Facility (SMCCF), as well as purchase by the Federal Reserve of commercial mortgage-backed securities (CMBS) guaranteed by Government National Mortgage Association, Fannie Mae, or Freddie Mac.[26][42][43] In August 2020, BlackRock received approval from the China Securities Regulatory Commission to set up a mutual fund business in the country. This made BlackRock the first global asset manager to get consent from the Chinese government to start operations in the country.[44][45]

In November 2021, Blackrock lowered its investment in India while increasing investment in China . The firm maintains a dedicated India Fund, through which it invests in Indian start-ups Byju's, Paytm, and Pine Labs.[46][47] In April 2023, the company was hired to sell $114 billion in assets of Signature Bank and Silicon Valley Bank after the 2023 global banking crisis.[48][49] In July 2023, the company appointed Amin H. Nasser to its Board.[50]

In August 2023, BlackRock signed an agreement with New Zealand to establish a NZ$2 billion investment fund for solar, wind, green hydrogen, battery storage, and EV charging projects as part of its goal of reaching 100 percent renewable energy by 2030.[51][52]

In June 2023, BlackRock filed an application with the United States Securities and Exchange Commission (SEC) to launch a Spot Bitcoin Exchange-Traded Fund (ETF). Later, in November 2023, they filed another application for a Spot Ethereum ETF. If the applications are approved, these two ETFs would be among the first spot cryptocurrency ETFs in the United States . Its bitcoin ETF filing and 10 others were approved on January 10, 2024.[53][54]

In January 2024, BlackRock announced that it would acquire the investment fund Global Infrastructure Partners for $12.5 billion.[55][56][57] BlackRock will pay $3 billion in cash and 12 million of its own shares as part of the deal to buy GIP. The chair and chief executive of BlackRock, Larry Fink, said: “Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts reshape the global economy … Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects.” [58] The move was characterized as something that would make BlackRock a significant force in the alternative investment space and allow it to meet the needs for sovereign wealth funds and wealthy individuals, which came after Fink reached out to private equity, private credit, and hedge fund firms.[59]

## Finances

In 2020, the non-profit American Economic Liberties Project issued a report highlighting the fact that "the 'Big Three' asset management firms – BlackRock, Vanguard and State Street – manage over $15 trillion in combined global assets under management, an amount equivalent to more than three-quarters of U.S. gross domestic product."[60] The report called for structural reforms and better regulation of the financial markets. In 2021, BlackRock managed over $10 trillion in assets under management, about 40% of the GDP of the United States (nominal $25.347 trillion in 2022).[61]

Year[62] | Revenue
(million USD)  | Net income
(million USD)  | Total assets
(million USD)  | AUM
(million USD)  | Price per
share (USD)  | Employees

|
|
|
|
|
|

2005  | 1,191  | 234  | 1,848  |  | 62.85  | 2,151
2006  | 2,098  | 323  | 20,469  |  | 103.75  | 5,113
2007  | 4,845  | 993  | 22,561  |  | 128.69  | 5,952
2008  | 5,064  | 784  | 19,924  |  | 144.07  | 5,341
2009  | 4,700  | 875  | 178,124  |  | 136.79  | 8,629
2010  | 8,612  | 2,063  | 178,459  | 3,561,000  | 145.85  | 9,127
2011  | 9,081  | 2,337  | 179,896  | 3,513,000  | 148.27  | 10,100
2012  | 9,337  | 2,458  | 200,451  | 3,792,000  | 158.53  | 10,500
2013  | 10,180  | 2,932  | 219,873  | 4,325,000  | 238.52  | 11,400
2014  | 11,081  | 3,294  | 239,792  | 4,651,895  | 289.80  | 12,200
2015  | 11,401  | 3,345  | 225,261  | 4,645,412  | 322.68  | 13,000
2016  | 12,261  | 3,168  | 220,177  | 5,147,852  | 334.16  | 13,000
2017  | 13,600  | 4,952  | 220,217  | 6,288,195  | 414.60  | 13,900
2018  | 14,198  | 4,305  | 159,573  | 5,975,818  | 492.98  | 14,900
2019  | 14,539  | 4,476  | 168,622  | 7,430,000  | 448.22  | 16,200
2020  | 16,205  | 4,932  | 176,982  | 8,677,000  | 558.56  | 16,500
2021  | 19,169  | 5,901  | 152,648  | 10,010,143  | 913.76  | 18,400
2022  | 17,873  | 5,178  | 117,628  | 8,594,485  | 708.63  | 19,800

## Mergers and acquisitions

Number  | Acquisition date  | Company  | Country  | Price (United States dollar )  | Used as or integrated with  | Refs.

|
|
|
|
|
|

1  | 2006  | Merrill's Investment Managers division (MLIM)  |  United States  | $9.3 billion  | Retail and international presence  | [63]
2  | 2009  | Barclays Global Investor  |  United States  | $13.5 billion  | ETF  | [64]
3  | 2010  | Helix Financial Group  |  United States  |  - | CRE  | [65][66]
4  | 2015  | FutureAdvisor  |  United States  | $150 million  | Robo-advisory  | [67][68]
5  | 2016  | Money market fund business of Bank of America |  United States  |  - | $80 billion in assets in money market funds  | [69]
6  | 2017  | Energy infrastructure investment platform of First Reserve Corporation  |  USA  |  - | Funds investing in energy  | [70]
7  | 2017  | Cachematrix  |  United States  |  - | Liquidity management  | [71]
8  | 2018  | Tennenbaum Capital Partners  |  United States  |  - | Private credit  | [72]
9  | 2018  | Asset Management Business of Citibanamex  |  Mexico  | $350 million  | Fixed income, equity, and multi-asset funds holding  | [73][74]
10  | 2019  | eFront  |  United States  | $1.3 billion in cash  | Alternative investment management software  | [75][76]
11  | 2021  | Aperio  |  United States  | $1.05 billion in cash  | A provider of tax-optimized index equity separately managed accounts | [77][78]
12  | 2023  | Kreos  |  United Kingdom  |  - | Private credit  | [79]
13  | 2024  | Global Infrastructure Partners |  United States  | $12.5 billion ($3 billion in cash, rest in BlackRock shares)  | Infrastructure assets  | [56]

This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by expanding it with reliably sourced entries.

## Issues

### Influence and power

Due to its power and the sheer size and scope of its financial assets and activities, BlackRock has been called the world's largest shadow bank.[80][32] In 2020, U.S. Representatives Katie Porter and Jesús "Chuy" García proposed a U.S. House bill aiming to restrain BlackRock and other so-called shadow banks.[81] On March 4, 2021, U.S. Senator Elizabeth Warren suggested that BlackRock should be designated "too big to fail", and should be regulated accordingly.[82]

BlackRock invests the funds of its clients (for example, the owners of iShares exchange-traded fund units) in numerous publicly traded companies, some of which compete with each other.[83][84][85] Because of the size of BlackRock's funds, the company is among the top shareholders of many companies, including the largest companies in the world. BlackRock states these shares are ultimately owned by the company's clients, not by BlackRock itself – a view shared by multiple independent academics – but acknowledges it can exercise shareholder votes on behalf of these clients, in many cases without client input.[86]

BlackRock has been the subject of conspiracy theories, including the conspiracy theory that BlackRock owns both Fox News and Dominion Voting Systems, which Snopes described as "false" and PolitiFact described as "mostly false".[87][88] Some BlackRock conspiracy theories have also incorporated antisemitism, such as the conspiracy theory that Jewish people including BlackRock founder Robert Kapito are part of a cabal responsible for COVID and a "COVID agenda".[89]

### Environmental, social and corporate governance investing

Main page: Finance:Environmental, social and corporate governance

In 2017, BlackRock expanded its environmental, social and corporate governance (ESG) projects with new staff and products.[90][91][92][93][94]

BlackRock started drawing attention to environmental and diversity issues by means of official letters to CEOs and shareholder votes together with activist investors or investor networks such as the Carbon Disclosure Project, which in 2017 backed a shareholder resolution for ExxonMobil to act on climate change.[95][96][97]

In 2018, it asked Russell 1000 companies to improve gender diversity on their board of directors if they had fewer than two women on them.[98]

In August 2021, a former BlackRock executive who had served as the company's first global chief investment officer for sustainable investing, said he thought the firm's ESG investing was a "dangerous placebo that harms the public interest." The former executive said that financial institutions are motivated to engage in ESG investing because ESG products have higher fees, which in turn increase company profits.[99]

In October 2021, The Wall Street Journal editorial board wrote that BlackRock was pushing the U.S. Securities and Exchange Commission to adopt rules requiring private companies to publicly disclose their climate impact, the diversity of their boards of directors, and other metrics. The editorial board opined that "ESG mandates, which also carry substantial litigation and reputation risks, will cause many companies to shun public markets. This would hurt stock exchanges and asset managers, but most of all retail investors."[100]

In January 2022, BlackRock founder and CEO Larry Fink defended the company's focus on ESG investing, pushing back "against accusations the asset manager was using its heft and influence to support a politically correct or progressive agenda."[101] Fink said the practice of ESG "is not woke."[102]

BlackRock's emphasis on ESG has drawn criticism as "either bowing to anti-business interests" or being "merely marketing".[103]

In a talk at the Aspen Ideas Festival in June 2023, BlackRock CEO Larry Fink said he has stopped using the term "ESG" because the term has been "weaponized". According to an Axios reporter, Fink also said "I'm ashamed of being part of this conversation." Later, according to Axios, Fink said, "I never said I was ashamed. I'm not ashamed. I do believe in conscientious capitalism."[104]

In July 2023, BlackRock announced that it would allow retail investors a proxy vote in its biggest ETF from 2024. The move was initiated in the context of claims from US Republicans that Blackrock is systematically trying to push a 'woke agenda' through its pro-ESG activities. Under the plan, investors in BlackRock's iShares Core S&P 500 ETF will be asked to make choices from seven different general policies ranging from voting generally with BlackRock's management, to environmental, social and governance factors or prioritizing Catholic values. Investors will not be able to vote on specific companies.[105] The Editorial Board at The Wall Street Journal argued that it amounted to a "false voting choice" since almost all of the pre-selected voting policies are devised by the ESG-aligned proxy advisories Glass Lewis and Institutional Shareholder Services.[106]

### Investments in contributors to climate change

As of December 2018, BlackRock was the world's largest investor in coal-fired power stations, holding shares worth $11 billion in 56 companies in the industry.[107] BlackRock owned more oil, gas, and thermal coal reserves than any other investment management company with total reserves amounting to 9.5 gigatonnes of CO
2 emissions or 30 percent of total energy-related emissions from 2017.[108] Environmental groups including the Sierra Club[109] and Amazon Watch[110] launched a campaign in September 2018 called "BlackRock's Big Problem",[111] claiming that BlackRock is the "biggest driver of climate destruction on the planet", due in part to its opposition to fossil fuel divestment.[111] In 2019 climate activists carried out street theatre and glued themselves to the door of the company's London offices.[112] On January 10, 2020, a group of climate activists rushed inside the Paris offices of BlackRock France, painting walls and floors with warnings and accusations on the responsibility of the company in the effects of global warming.[113]

In May 2019, BlackRock was criticized for the environmental impact of its holdings as it was a major shareholder in every oil supermajor except Total S.A. and in 7 of the 10 biggest coal producers.[114]

On January 14, 2020, the company shifted its investment policy; BlackRock CEO Larry Fink said that environmental sustainability would be a key goal for investment decisions.[115] BlackRock announced that it would sell $500 million worth of coal-related assets, and created funds that would not invest in companies profiting from fossil fuels.[116][115] Nonetheless, BlackRock's support for shareholder resolutions requesting climate risk disclosure fell from 25% in 2019 to 14% in 2020.[117]

BlackRock has also been criticized regarding climate change inaction and deforestation in the Amazon rainforest.[118][119] According to The New Republic, BlackRock "has positioned itself as the good guy on Wall Street, and its executives as a crew of mild-mannered money managers who understand the risks of the climate crisis and the importance of diversity. But those commitments, critics say, only extend so far into the firm's day-to-day operations."[81]

### Investments in gun manufacturers

In May 2018, anti-gun protesters held a demonstration outside the company's annual general meeting in Manhattan.[120]

After discussions with firearms manufacturers and distributors, on April 5, 2018, BlackRock introduced two new exchange-traded funds (ETFs) that exclude stocks of gun makers and large gun retailers such as Walmart, Dick's Sporting Goods, Kroger, Sturm Ruger, American Outdoor Brands, and Vista Outdoor, and removed the stocks from seven existing ESG funds.[121][122][123]

### BlackRock study on integrating ESG into banking rules

The European Ombudsman opened an inquiry in May 2020 to inspect the commission's file on the European Commission's decision to award a contract to BlackRock to carry out a study on integrating environmental, social and governance risks and objectives into EU banking rules ('the prudential framework'). European Parliament members questioned the impartiality of BlackRock given its investments in the sector.[124][125]

### U.S. states refusing to do business with BlackRock due to ESG policies

Riley Moore, the State treasurer of West Virginia, said in June 2022 that BlackRock and five other financial institutions would no longer be allowed to do business with the state of West Virginia, because of the company's advocacy against the fossil fuel industry.[126]

In December 2022, Jimmy Patronis, the Chief Financial Officer of Florida, announced that the government of Florida would be divesting $2 billion worth of investments under management by BlackRock, due to the firm's move to strengthen ESG standards and ESG policies.[127][128] BlackRock later responded to the announcement with a statement stating that the divestment would place politics over investor interest.[129]

In October 2022, Louisiana removed $794 million from BlackRock due to the company's support of ESG and green energy.[130]

### Criticism of investments in China

In August 2021, BlackRock set up its first mutual fund in China after raising over one billion dollars from 111,000 Chinese investors. BlackRock became the first foreign-owned company allowed by the Chinese government to operate a wholly-owned business in China's mutual fund industry.[131][132][133] Writing in The Wall Street Journal, George Soros described BlackRock's initiative in China as a "tragic mistake" that would "damage the national security interests of the U.S. and other democracies."[134][135][136]

In October 2021, non-profit group Consumers' Research launched an ad campaign criticizing BlackRock's relationship with the Chinese government.[137]

In December 2021, it was reported that BlackRock was an investor in two companies that had been blacklisted by the US government accusing China of human rights abuses against the Uyghurs in Xinjiang. In one case (Hikvision) BlackRock increased its level of investment after the company's blacklisting.[138]

In August 2023, the US House of Representatives' Select Committee on the Chinese Communist Party initiated an investigation into the firm's investments in Chinese companies accused of violating human rights and aiding the People's Liberation Army.[139][140][141]

### Ties with Federal Reserve

BlackRock was scrutinized for allegedly taking advantage of its close ties with the Federal Reserve during the COVID-19 pandemic response efforts.[142][143][144] In June 2020, The New Republic wrote that BlackRock "was having a very good pandemic" and was casting "itself as socially responsible while contributing to the climate catastrophe, evading regulatory scrutiny, and angling to influence [a potential] Biden administration."[81] The Financial Times described BlackRock as having secured a prominent advisory role in the Fed's post-COVID asset purchase program, prompting concerns over whether BlackRock would use its influence to encourage the Fed to purchase BlackRock products; during the Fed's 2020 quantitative easing program, BlackRock's corporate bond ETF received $4.3 billion in new investment, compared to the respective $33 million and $15 million received by BlackRock's competitors Vanguard Group and State Street.[145]

### Involvement in reconstruction of Ukraine

On December 28, 2022, it was announced that BlackRock and Volodymyr Zelensky had coordinated a role for the company in the reconstruction of Ukraine.[146][147]

## Key people

As of 2023, Blackrock has a 16-person board of directors:[148]– Founder, Chairman and CEO[25]

* Larry Fink, Founder, Chairman and CEO
* Bader M. Alsaad
* Pamela Daley
* William E. Ford
* Fabrizio Freda
* Murry S. Gerber
* Margaret "Peggy" L. Johnson
* Robert S. Kapito – founder and co-president[149]
* Cheryl D. Mills
* Gordon M. Nixon
* Kristin Peck
* Charles H. Robbins
* Marco Antonio Slim Domit
* Hans V. Vestberg
* Susan Wagner – founder, member of the board[150]
* Mark Wilson
* Amin H. Nasser

People who have previously served on the Blackrock board of directors include:

* Brian Deese – former Global Head of Sustainable Investing[151]
* Blake Grossman, former vice chairman[152]

## Associated organizations

* BlackRock Foundation - Foundation founded on 2020 February 13.

## See also

* Companies listed on the New York Stock Exchange (B)
* List of asset management firms
* List of CDO managers
* List of companies based in New York City
* List of hedge funds
* List of mutual-fund families in the United States
* List of S&P 500 companies
* Sovereign Wealth Fund Institute
* Asset management
* Globalism
* Investment trust

## References

1. ↑ 1.0 1.1 "BlackRock, Inc. 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 24, 2023. https://www.sec.gov/ix?doc=/Archives/edgar/data/1364742/000095017023004343/blk-20221231.htm.
2. ↑ Gledhill, Alice; Lacqua, Francine (October 9, 2023). "BlackRock's Hildebrand Wants IMF to Address New Economic Reality". Bloomberg News. https://www.bloomberg.com/news/articles/2023-10-09/blackrock-s-hildebrand-says-policy-rates-won-t-come-down-quickly.
3. ↑ "BlackRock Reports Second Quarter 2023 Diluted EPS of $9.06, or $9.28 as adjusted" (in en-US). https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackrock-reports-second-quarter-2023.
4. ↑ Bebchuk, Lucian; Hirst, Scott (2019). "Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy". Columbia Law Review 119 (8): 2029–2146. https://columbialawreview.org/content/index-funds-and-the-future-of-corporate-governance-theory-evidence-and-policy/.
5. ↑ McLaughlin, David; Massa, Annie (January 9, 2020). "The Hidden Dangers of the Great Index Fund Takeover". https://www.bloomberg.com/news/features/2020-01-09/the-hidden-dangers-of-the-great-index-fund-takeover.
6. ↑ 6.0 6.1 Briefing: BlackRock – The Monolith And The Markets, The Economist, December 7, 2013, pp. 24-26.
7. ↑ "BlackRock". 2023-06-05. https://fortune.com/company/blackrock/fortune500/.
8. ↑ Appell, Douglas (July 9, 2012). "BlackRock departures spur talk about Fink's future" (in en). https://www.pionline.com/article/20120709/PRINT/307099977/blackrock-departures-spur-talk-about-finks-future.
9. ↑ "The rise of BlackRock". The Economist. December 5, 2013. ISSN 0013-0613. https://www.economist.com/leaders/2013/12/05/the-rise-of-blackrock.
10. ↑ "Larry Fink Q&A: "I Don't Identify as Powerful"". Bloomberg.com (Bloomberg). https://www.bloomberg.com/features/2017-blackrock-larry-fink-interview/.
11. ↑ 11.0 11.1 Carey, David; Morris, John E. (2012) (in en). King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone. Crown Publishing Group. p. 59. ISBN 978-0307886026. https://books.google.com/books?id=DE8jTajp7PAC&pg=PA59.
12. ↑ 12.0 12.1 12.2 12.3 12.4 12.5 Banerjee, Devin (September 30, 2013). "Schwarzman Says Selling BlackRock Was 'Heroic' Mistake". Bloomberg News. https://www.bloomberg.com/news/articles/2013-09-30/schwarzman-says-selling-blackrock-was-heroic-mistake.
13. ↑ 13.0 13.1 13.2 13.3 "History". BlackRock. https://www.blackrock.com/corporate/about-us/blackrock-history.
14. ↑ Foley, John; Cox, Rob (December 23, 2019). "BlackRock is Wall Street's object of fantasy M&A". Reuters. https://www.reuters.com/article/us-blackrock-blackstone-group-breakingvi/breakingviews-blackrock-is-wall-streets-object-of-fantasy-ma-idUSKBN1YR1JI.
15. ↑ 15.0 15.1 15.2 15.3 Loomis, Carol J. (July 7, 2014). "BlackRock: The $4.3 trillion force". Fortune. https://fortune.com/2014/07/07/blackrock-larry-fink/.
16. ↑ "Here come the IPOs". CNN. September 26, 1999. https://money.cnn.com/1999/09/26/markets/ipos/.
17. ↑ Agnew, Harriet (October 10, 2021). "BlackRock: 'the journey of a single man'". Financial Times. https://www.ft.com/content/62f577cc-39c2-4631-83f0-f5ad95c41f2d.
18. ↑ "BlackRock Acquiring State Street Research from MetLife" (Press release). Business Wire. August 24, 2004. External link in `|publisher=` (help)
19. ↑ "BlackRock and a hard place". The Economist. February 16, 2006. https://www.economist.com/finance-and-economics/2006/02/16/blackrock-and-a-hard-place.
20. ↑ Spence, John (October 2, 2006). "BlackRock, Merrill fund unit complete merger". https://www.marketwatch.com/story/merrill-lynch-investment-managers-blackrock-close-merger.
21. ↑ "BlackRock to Buy Quellos Fund of Funds Business". CNBC. Reuters. June 26, 2007. https://www.cnbc.com/id/19430953.
22. ↑ DeSilver, Drew (June 27, 2007). "Quellos is selling unit to BlackRock in $1.72 billion deal". The Seattle Times. https://www.seattletimes.com/business/quellos-is-selling-unit-to-blackrock-in-172-billion-deal/.
23. ↑ Kolhatkar, Sheelah (December 9, 2010). "Fink Builds BlackRock Powerhouse Without Goldman Sachs Backlash". Bloomberg News. https://www.bloomberg.com/news/2010-12-09/larry-fink-builds-blackrock-into-powerhouse-without-goldman-sachs-backlash.html.
24. ↑ Rappaport, Liz; Craig, Susanne (May 19, 2009). "BlackRock Wears Multiple Hats". The Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/SB124269131342732625.
25. ↑ 25.0 25.1 Andrews, Suzanna. Larry Fink's $12 Trillion Shadow, Vanity Fair, April 2010: "There is little doubt among the financial establishment in Washington and on Wall Street that BlackRock was the best choice to handle the government's problems."
26. ↑ 26.0 26.1 Annie Massa. Why BlackRock Has a Role in the Fed Bond-Buying Spree, The Washington Post, May 22, 2020
27. ↑ "BlackRock to Acquire R3 Capital". The New York Times. April 17, 2009. https://dealbook.nytimes.com/2009/04/17/blackrock-to-acquire-r3-capital/.
28. ↑ "BlackRock wraps up merger with Barclays Global Investors". Associated Press. February 16, 2010. https://www.investmentnews.com/blackrock-wraps-up-merger-with-barclays-global-investors-25639.
29. ↑ "US giant BlackRock buys arm of Barclays bank". The Guardian. June 12, 2009. https://www.theguardian.com/business/2009/jun/12/blackrock-to-buy-barclays-bank-arm.
30. ↑ "BlackRock to join S&P 500 index". Reuters. March 29, 2011. https://www.reuters.com/article/blackrock-sp500/update-1-blackrock-to-join-sp-500-index-idUSN2929979120110329.
31. ↑ "BlackRock to join S&P 500 index, replacing Genzyme". The Boston Globe. March 29, 2011. http://archive.boston.com/business/healthcare/articles/2011/03/29/blackrock_to_join_sp_500_index_replacing_genzyme/.
32. ↑ 32.0 32.1 "Shadow and substance". The Economist. May 10, 2014. https://www.economist.com/news/special-report/21601621-banks-retreat-wake-financial-crisis-shadow-banks-are-taking-growing.
33. ↑ "Is BlackRock Too Big". n.d.. https://www.swfinstitute.org/news/26040/is-blackrock-too-big.
34. ↑ "BlackRock profit falls as shift from stocks hits fee revenue" (in en). Reuters. July 14, 2016. https://www.reuters.com/article/us-blackrock-results-idUSKCN0ZU13V.
35. ↑ 35.0 35.1 "BlackRock to Acquire FutureAdvisor". Business Wire (Press release). BlackRock. August 26, 2015. Retrieved August 26, 2015.
36. ↑ Tepper, Fitz (June 24, 2015). "YC Alum FutureAdvisor Is Now Managing $600 Million In Assets". TechCrunch. https://techcrunch.com/2015/06/24/yc-alum-futureadvisor-is-now-managing-600-million/.
37. ↑ Stevenson, Alexandra (November 18, 2015). "BlackRock to Wind Down Macro Hedge Fund". The New York Times. ISSN 0362-4331. https://www.nytimes.com/2015/11/19/business/dealbook/blackrock-to-wind-down-macro-hedge-fund.html.
38. ↑ "BlackRock cuts ranks of stockpicking fund managers". Financial Times. March 27, 2017. https://www.ft.com/content/b0056320-13e3-11e7-b0c1-37e417ee6c76.
39. ↑ Foley, Stephen (April 19, 2017). "BlackRock assets under management hit $5.4tn on record ETF inflows". Financial Times. https://www.ft.com/content/adeae206-2502-11e7-8691-d5f7e0cd0a16.
40. ↑ Hughes, Jennifer (April 20, 2017). "BlackRock backs mainland China shares for MSCI benchmarks". Financial Times. https://www.ft.com/content/6f0943e6-257c-11e7-8691-d5f7e0cd0a16.
41. ↑ Sabatini, Patricia (May 15, 2020). "PNC sold its shares to Blackrock stake for $14.4 billion". Pittsburgh Post-Gazette. https://www.post-gazette.com/business/pittsburgh-company-news/2020/05/15/PNC-sells-Blackrock-stake-for-14-4-billion/stories/202005150123.
42. ↑ Sophie Baker. Fed chooses BlackRock for pandemic support programs, Pensions & Investments, March 25, 2020
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44. ↑ Zacks Equity Research (September 2, 2020). "BlackRock Gets Nod to Set Up Mutual Fund Business in China (Revised)". Nasdaq. https://www.nasdaq.com/articles/blackrock-gets-nod-to-set-up-mutual-fund-business-in-china-revised-2020-09-02.
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46. ↑ "World's biggest asset manager BlackRock trimming investments in India, more optimistic on China" (in en-US). November 23, 2021. https://theprint.in/economy/worlds-biggest-asset-manager-blackrock-trimming-investments-in-india-more-optimistic-on-china/770519/.
47. ↑ "BlackRock says it's time to buy China stocks and trim India exposure: Report" (in en). November 23, 2021. https://www.businesstoday.in/markets/stocks/story/blackrock-says-its-time-to-buy-china-stocks-and-trim-india-exposure-report-313143-2021-11-23.
48. ↑ Reichl, Dan; Brush, Silla (April 5, 2023). "BlackRock to Sell $114 Billion of Failed Banks' Securities". Bloomberg News. https://www.bloomberg.com/news/articles/2023-04-05/blackrock-hired-to-sell-114-billion-in-failed-banks-securities.
49. ↑ Hughes, Jennifer; Masters, Brooke (April 5, 2023). "BlackRock to manage $114bn of asset disposals after US bank failures". Financial Times. https://www.ft.com/content/0db00ba2-6603-4d09-b736-60a0307bc75b.
50. ↑ "BlackRock Names Aramco CEO Amin Nasser to Its Board of Directors" (in en). Bloomberg.com. July 17, 2023. https://www.bloomberg.com/news/articles/2023-07-17/blackrock-names-aramco-ceo-amin-nasser-to-its-board-of-directors.
51. ↑ Hipkins, Chris; Woods, Megan (August 8, 2023). "First of its kind climate fund to back 100% renewable energy". New Zealand Government. https://www.beehive.govt.nz/release/first-its-kind-climate-fund-back-100-renewable-electricity.
52. ↑ Gibson, Eloise (August 9, 2023). "Government partners with US investment giant BlackRock on 2bn fund for solar, wind, hydrogen". Stuff. https://www.stuff.co.nz/environment/climate-news/300945414/government-partners-with-us-investment-giant-blackrock-on-2bn-fund-for-solar-wind-hydrogen.
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54. ↑ Kostas, Leo. "How Investors Can Leverage The Introduction Of Crypto ETFs". Benzinga. https://www.benzinga.com/markets/cryptocurrency/23/11/36031837/how-investors-can-leverage-the-introduction-of-crypto-etfs.
55. ↑ "BlackRock Agrees to Acquire GIP, Creating a World Leading Infrastructure Private Markets Investment Platform" (in en-US). 2024-01-12. https://www.global-infra.com/news/2024/01/blackrock-agrees-to-acquire-global-infrastructure-partners-gip-creating-a-world-leading-infrastructure-private-markets-investment-platform/.
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57. ↑ "BlackRock CEO Larry Fink on GIP deal: The future in private markets will be infrastructure". 12 January 2024. https://www.youtube.com/watch?v=cTT_FlYYNtU.
58. ↑ Lawson, Alex (January 12, 2024). "Sale of UK assets to world’s largest money manager means huge payday for bankers". The Guardian. https://www.theguardian.com/business/2024/jan/12/blackrock-buys-global-infrastructure-partners.
59. ↑ "How the $12.5bn BlackRock-GIP deal is set to shake up investment management". https://www.ft.com/content/8f1c7825-425e-4bae-8909-da3db52cc8d1.
60. ↑ The New Money Trust: How Large Money Managers Control Our Economy and What We Can Do About It, November 23, 2020
61. ↑ "World Economic Outlook Database, April 2022". International Monetary Fund. April 2022. https://www.imf.org/en/Publications/WEO/weo-database/2022/April.
62. ↑ BlackRock Financials, 2018, http://ir.blackrock.com/Cache/396937020.PDF?O=PDF&T=&Y=&D=&FID=396937020&iid=4048287, retrieved April 1, 2019
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64. ↑ "US giant BlackRock buys arm of Barclays bank" (in en). June 12, 2009. http://www.theguardian.com/business/2009/jun/12/blackrock-to-buy-barclays-bank-arm.
65. ↑ "BlackRock Acquires the Helix Financial Group LLC Business" (in en). January 19, 2010. https://www.businesswire.com/news/home/20100119005720/en/BlackRock-Acquires-Helix-Financial-Group-LLC-Business.
66. ↑ "BlackRock buys Helix Financial Group". The Economic Times. https://economictimes.indiatimes.com/news/international/blackrock-buys-helix-financial-group/articleshow/5477873.cms?from=mdr.
67. ↑ "Blackrock Acquires FutureAdvisor For $150M To Pivot B2B" (in en-US). August 27, 2015. https://www.kitces.com/blog/blackrock-acquires-futureadvisor-for-150m-as-yet-another-robo-advisor-pivots-to-become-an-advisor-fintech-solution/.
68. ↑ "BlackRock to acquire robo-adviser" (in en). Reuters. August 26, 2015. https://www.reuters.com/article/us-futureadvisor-m-a-blackrock-idUSKCN0QV1HU20150826.
69. ↑ "BlackRock Closes Transaction to Transfer $80 Billion of Client Assets from BofA® Global Capital Management" (Press release). Business Wire. April 18, 2016. External link in `|publisher=` (help)
70. ↑ "BlackRock Acquires Energy Infrastructure Franchise from First Reserve" (Press release). First Reserve Corporation. February 1, 2017.
71. ↑ "BlackRock Completes Acquisition of Cachematrix" (in en). https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackrock-cachematrix-2017.
72. ↑ "BlackRock says to buy private credit investor Tennenbaum Capital" (in en). Reuters. April 17, 2018. https://in.reuters.com/article/us-tennenbaum-m-a-blackrock-idINKBN1HO3GQ.
73. ↑ "BlackRock to pay $350m for Citibanamex's AM arm" (in en). Citywire. https://citywireamericas.com/news/blackrock-to-pay-350m-for-citibanamex-s-am-arm/a1105500.
74. ↑ "BlackRock Completes Acquisition of Asset Management Business of Citibanamex" (in en). https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/citibanamex-close-pressrelease_US.
75. ↑ "BlackRock Completes Acquisition of eFront" (Press release). eFront. May 10, 2019.
76. ↑ "BlackRock to Acquire eFront" (Press release). eFront. March 22, 2019.
77. ↑ "BlackRock Completes Acquisition of Aperio" (Press release). Business Wire. February 1, 2021 - via Nasdaq. External link in `|publisher=` (help)
78. ↑ Kumar, Arunima (November 23, 2020). "BlackRock to buy Aperio for $1.05 billion from Golden Gate Capital, employees". Reuters. https://www.reuters.com/article/us-aperio-m-a-blackrock/blackrock-to-buy-aperio-for-1-05-billion-from-golden-gate-capital-employees-idUSKBN28332T.
79. ↑ "BlackRock grows private credit business with Kreos acquisition". Financial Times. June 8, 2023. https://www.ft.com/content/cb47f61b-6c6c-45bd-9cd0-df344e7aa73f.
80. ↑ "Die grösste Schattenbank der Welt". Basler Zeitung. November 20, 2012. http://bazonline.ch/wirtschaft/unternehmen-und-konjunktur/Die-groesste-Schattenbank-der-Welt/story/27331110.
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82. ↑ Cox, Jeff (March 24, 2021). "Yellen supports banks' share buybacks. Sen. Warren wants BlackRock designated too big to fail". https://www.cnbc.com/2021/03/24/yellen-supports-buybacks-warren-wants-blackrock-deemed-too-big-to-fail.html.
83. ↑ Fichtner, Jan; Heemskerk, Eelke M.; Garcia-Bernardo, Javier (2017). "Hidden power of the Big Three? Passive index funds, re-concentration of corporate ownership, and new financial risk". Business and Politics 19 (2): 298–326. doi:10.1017/bap.2017.6.
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85. ↑ "BlackRock - The company that owns the world? (Investigate Europe)". May 10, 2018. https://www.youtube.com/watch?v=A4foal20UTA.
86. ↑ "Fact Check-Video claiming BlackRock and Vanguard 'own all the biggest corporations in the world' is missing context". Reuters. April 20, 2022. https://www.reuters.com/article/factcheck-business-investment-idUSL2N2WI1K4.
87. ↑ "Does BlackRock Own Both Fox News and Dominion Voting Systems?". Snopes. April 27, 2023. https://www.snopes.com/fact-check/does-blackrock-own-fox-news-dominion-voting/. Retrieved April 27, 2023.
88. ↑ "Facebook posts". https://www.politifact.com/factchecks/2023/apr/26/facebook-posts/blackrock-fox-and-tucker-carlson-untangling-a-web/. Retrieved April 27, 2023.
89. ↑ "'COVID agenda is Jewish': Antisemitic flyer found at Melbourne synagogue". The Jerusalem Post. July 16, 2022. https://www.jpost.com/diaspora/antisemitism/article-712270. Retrieved April 27, 2023.
90. ↑ "BlackRock stakes claim on 'sustainable investing' revolution". Financial Times. October 22, 2018. https://www.ft.com/content/f66b2a9e-d53d-11e8-a854-33d6f82e62f8. "BlackRock intends to become a global leader in “sustainable investing”, says Larry Fink, as the world's largest asset manager launched"
91. ↑ Chasan, Emily (October 10, 2017). "BlackRock Names Former Obama Aide to Run Sustainable Investing". Bloomberg. https://www.bloomberg.com/news/articles/2017-10-10/blackrock-names-former-obama-aide-to-run-sustainable-investing.
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93. ↑ Camilla Giannoni (October 19, 2018). "BlackRock hires new Switzerland CEO". https://citywire.ch/news/blackrock-hires-new-switzerland-ceo/a1167087. "deepen our commitment to clients in Switzerland and broaden our sustainable investing footprint in Europe"
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98. ↑ Chasan, Emily (November 3, 2018). "BlackRock Is Sick of Excuses for Corporate Boards Lacking Women". https://www.bloomberg.com/news/articles/2018-11-03/blackrock-is-sick-of-excuses-for-corporate-boards-lacking-women.
99. ↑ Amaro, Silvia (August 24, 2021). "Blackrock's former sustainable investing chief now thinks ESG is a 'dangerous placebo'" (in en). CNBC. https://www.cnbc.com/2021/08/24/blackrocks-former-sustainable-investing-chief-says-esg-is-a-dangerous-placebo.html.
100. ↑ The Editorial Board (October 24, 2021). "Opinion: BlackRock's Wish Is Your Command". The Wall Street Journal. https://www.wsj.com/articles/follow-larry-finks-orders-or-else-blackrock-nasdaq-adena-friedman-esg-sec-11633112228.
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102. ↑ Brush, Silla; Ward, Russell (January 17, 2022). "BlackRock CEO Says Stakeholder Capitalism Isn't 'Woke'". Bloomberg News. https://www.bloomberg.com/news/articles/2022-01-18/blackrock-ceo-says-nothing-woke-about-stakeholder-capitalism.
103. ↑ Sorkin, Andrew Ross; Karaian, Jason; Kessler, Sarah; Gandel, Stephen; Merced, Michael J. de la; Hirsch, Lauren; Livni, Ephrat (January 18, 2022). "Larry Fink Defends Stakeholder Capitalism". The New York Times. https://www.nytimes.com/2022/01/18/business/dealbook/fink-blackrock-woke.html.
104. ↑ Frank, John (June 26, 2023). "Larry Fink "ashamed" to be part of ESG political debate". Axios. https://www.axios.com/2023/06/26/larry-fink-ashamed-esg-weaponized-desantis.
105. ↑ Masters, Brooke (July 17, 2023). "BlackRock offers a vote to retail investors in its biggest ETF". Financial Times. https://www.ft.com/content/3f0f26bf-cb33-4fd4-a1dd-4104cd294b17.
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112. ↑ Hammond, Holly; McIntyre, Iain (March 9, 2022). ""You can't eat money": An interview with Extinction Rebellion activist Jo Flanagan" (in en-AU). https://commonslibrary.org/you-cant-eat-money/.
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121. ↑ Moyer, Liz (April 5, 2018). "BlackRock to offer new funds that exclude stocks of gun makers and retailers including Walmart". CNBC. https://www.cnbc.com/2018/04/05/blackrock-to-offer-new-funds-that-exclude-stocks-of-gun-makers-and-retailers-including-walmart.html.
122. ↑ Gibson, Kate (April 5, 2018). "BlackRock unveils line of gun-free investment products". CBS News. https://www.cbsnews.com/news/blackrock-unveils-line-of-gun-free-investment-products/.
123. ↑ Siegel, Rachel (April 6, 2018). "BlackRock unveils gun-free investment options". The Washington Post. https://www.washingtonpost.com/news/business/wp/2018/04/06/blackrock-unveils-gun-free-investment-options/.
124. ↑ "European Ombudsman". Europa. November 23, 2020. https://www.ombudsman.europa.eu/fr/case/en/57060.
125. ↑ "The Commission's decision to award a contract to BlackRock to oversee the development of ESG factors in the EU banking sector and corporate investment policies". Europa. April 20, 2020. https://www.europarl.europa.eu/doceo/document/P-9-2020-002369_EN.html.
126. ↑ Schroeder, Pete (June 14, 2022). "West Virginia threatens to bar big banks, BlackRock over perceived fossil fuel boycotts". Reuters. https://www.reuters.com/business/finance/west-virginia-threatens-bar-big-banks-blackrock-over-perceived-fossil-fuel-2022-06-14/.
127. ↑ Folmar, Chloe (December 2, 2022). "Florida pulls $2B worth of investments from BlackRock over ESG investment after DeSantis resolution". The Hill. https://thehill.com/homenews/3759466-florida-pulls-2b-worth-of-investments-from-blackrock-over-esg-investment-after-desantis-resolution/.
128. ↑ "Florida to pull $2bn from BlackRock in spreading ESG backlash". Financial Times. December 1, 2022. https://www.ft.com/content/38f87ec9-41c6-441d-a6c2-314ff0435166.
129. ↑ Kerber, Ross (December 1, 2022). "Florida pulls $2 bln from BlackRock in largest anti-ESG divestment". Reuters. https://www.reuters.com/business/finance/florida-pulls-2-bln-blackrock-largest-anti-esg-divestment-2022-12-01/.
130. ↑ Nishant, Niket; Bedi, Mehr (October 5, 2022). "Louisiana to remove $794 mln from BlackRock funds over ESG drive". Reuters. https://www.reuters.com/business/sustainable-business/louisiana-remove-794-mln-blackrock-funds-over-esg-drive-2022-10-05/.
131. ↑ Chandler, Clay; Gordon, Nicholas (September 9, 2021). "BlackRock is 'blundering' in China—all the way to the bank" (in en). Fortune. https://fortune.com/2021/09/09/blackrock-china-mutual-fund-investment-soros-mistake/.
132. ↑ Madhok, Diksha (September 8, 2021). "Chinese investors pour $1 billion into BlackRock's new fund". CNN. https://www.cnn.com/2021/09/08/investing/blackrock-china-fund-intl-hnk/index.html.
133. ↑ "BlackRock's China unit raises $1 bln in maiden mutual fund" (in en). Reuters. September 8, 2021. https://www.reuters.com/business/blackrocks-china-unit-raises-1-bln-maiden-mutual-fund-2021-09-08/.
134. ↑ Meredith, Sam (September 8, 2021). "BlackRock responds to George Soros' criticism over China investments" (in en). CNBC. https://www.cnbc.com/2021/09/08/blackrock-responds-to-george-soros-criticism-over-china-investments.html.
135. ↑ Soros, George (September 6, 2021). "Opinion: BlackRock's China Blunder". The Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/blackrock-larry-fink-china-hkex-sse-authoritarianism-xi-jinping-term-limits-human-rights-ant-didi-global-national-security-11630938728.
136. ↑ Meredith, Sam (September 8, 2021). "BlackRock responds to George Soros' criticism over China investments". https://www.cnbc.com/2021/09/08/blackrock-responds-to-george-soros-criticism-over-china-investments.html.
137. ↑ Rapoza, Kenneth (October 27, 2021). "BlackRock's China Relationship Target In Nationwide Ad Campaign". Forbes. https://www.forbes.com/sites/kenrapoza/2021/10/27/blackrocks-china-relationship-target-in-nationwide-ad-campaign/.
138. ↑ "Nonprofit Warns Governors About BlackRock Retirement Funds' Chinese Investments". December 3, 2021. https://www.fa-mag.com/news/nonprofit-warns-governors-about-blackrock-retirement-funds--chinese-investments-65225.html.
139. ↑ Suter, Tara (August 1, 2023). "House China committee launches probe into investment firm BlackRock". The Hill. https://thehill.com/homenews/house/4131522-house-china-committee-probe-blackrock/.
140. ↑ O’Keeffe, Kate; Driebusch, Corrie (August 1, 2023). "BlackRock, MSCI Face Congressional Probes for Facilitating China Investments" (in en-US). The Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/blackrock-msci-face-congressional-probes-for-facilitating-china-investments-2147ce2c.
141. ↑ Quinn, Jimmy (August 3, 2023). "House Committee: BlackRock Has Funneled over $429 Million to Blacklisted Chinese Firms" (in en-US). https://www.nationalreview.com/2023/08/house-committee-blackrock-has-funneled-over-429-million-to-blacklisted-chinese-firms/.
142. ↑ Leslie P. Norton. BlackRock Is Biggest Beneficiary of Fed Purchases of Corporate Bond ETFs, Barron's, June 1, 2020
143. ↑ Richard Henderson and Robin Wigglesworth. Fed's big boost for BlackRock raises eyebrows on Wall Street, Financial Times, March 27, 2020
144. ↑ Richard Henderson and Robin Wigglesworth. BlackRock's growing clout carries risks for asset manager: Group faces increased scrutiny as central banks ask it to help run stimulus packages, Financial Times, April 30, 2020
145. ↑ "BlackRock trounces ETF rivals after Fed appointment". Financial Times. May 20, 2020. https://www.ft.com/content/7091a2a5-7eef-4c78-8331-9fd986925f8a.
146. ↑ Smith, Elliot (December 28, 2022). "Zelenskyy, BlackRock CEO Fink agree to coordinate Ukraine investment". CNBC. https://www.cnbc.com/2022/12/28/zelenskyy-blackrock-ceo-fink-agree-to-coordinate-ukraine-investment.html.
147. ↑ Schonfeld, Zach (December 28, 2022). "Zelensky agrees to Ukraine rebuild investment with BlackRock CEO". The Hill. https://thehill.com/policy/international/3790699-zelensky-agrees-to-ukraine-rebuild-investment-with-blackrock-ceo/.
148. ↑ "Board of Directors". https://ir.blackrock.com/governance/board-of-directors/default.aspx.
149. ↑ De La Merced, Michael J. (April 6, 2014). "BlackRock Elevates Executives in Succession Planning Move". The New York Times. https://dealbook.nytimes.com/2014/04/06/blackrock-elevates-executives-in-succession-planning-move/.
150. ↑ Lin, Ed. "BlackRock Co-Founder Susan Wagner Sells Stock". www.barrons.com. https://www.barrons.com/articles/blackrock-co-founder-susan-wagner-sells-stock-51599846033.
151. ↑ Schwartz, Brian (March 20, 2021). "Biden's closest advisors have ties to big business and Wall Street with some making millions" (in en). https://www.cnbc.com/2021/03/20/bidens-closest-advisors-have-ties-to-big-business-with-some-making-millions.html.
152. ↑ Blackrocks Blake Grossman will leave Firm one year after BGI Acquisition January 2011, bloomberg.com. Retrieved February 2011

## Further reading

* Brooker, Katrina (October 29, 2008). "Can this man save Wall Street?". Fortune. https://money.cnn.com/2008/10/28/magazines/fortune/blackrock_brooker.fortune/index.htm.
* Foley, Stephen (April 2, 2017). "BlackRock's active funds navigate rough seas". Financial Times. https://www.ft.com/content/ab48d044-14c2-11e7-80f4-13e067d5072c.
* Ungarino, Rebecca (December 30, 2020). "Here are 9 fascinating facts to know about BlackRock, the world's largest asset manager popping up in the Biden administration". Business Insider. https://www.businessinsider.com/what-to-know-about-blackrock-larry-fink-biden-cabinet-facts-2020-12.

## External links

* Business data for BlackRock Inc.:

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* Bloomberg
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* SEC filings

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