Who is BlackRock CEO Larry Fink?
Larry Fink is an American businessman with billions worth of fortune. He co-founded BlackRock in 1988 with seven other partners, and the company has developed to become an international powerhouse in investing and technology solutions under his leadership.
When it comes to businesses acting on the issue of climate change, Fink has been outspoken. In 2022, he wrote in an open letter that reads; “The shift to a net-zero planet will change every firm and every industry. Will you take the lead or will others lead you?”
Fink wrote in his 2018 annual letter to investors that other businesses ought to consider how they have an impact on society. However, his statements did not go unnoticed with criticism from antiwar organizations because BlackRock, his company, is the largest investor in weapon makers through its U.S. Aerospace and Defense ETF.
Larry Fink Religion, Age
Fink is currently 70 years old. He was born on November 2, 1952, in Los Angeles, California, United States. He was raised in a Jewish household. His father used to sell shoes in his store while his mother worked as a professor.
Larry Fink Height
Fink stands at an average height of 5 feet 8 inches.
Larry Fink Education
Fink is an intelligent businessman. He graduated with a Bachelor of Arts in Political Science from UCLA in 1974. Two years later, he received a Master of Business Administration in Real Estate at the UCLA Anderson Graduate School of Management.
Larry Fink’s Wife and Children
Fink and his wife, Lori Fink crossed paths at the time they were still high school students. The couple tied the knot in 1970 and they are still together up to date. Larry and his wife are blessed with three children and one of them is Joshua Fink, a Senior Managing Director at JMH Private Investments.
Larry Fink’s Net Worth and Career Beginnings
Fink is worth $1 billion, but it is important to check how he got there. He officially started his career in business in 1976 at First Boston, a brokerage firm with its corporate offices in New York. There, he was among the first traders of mortgage-backed securities and went on to lead the bond department of the company.
Along with founding the Financial Futures and Options Department and leading the Mortgage and Real Estate Products Group, Fink held several positions at First Boston, including managing director, co-head of the Taxable Fixed Income Division, and member of the management committee.
First Boston’s earnings increased “by some estimates” by $1 billion thanks to Fink. He enjoyed success at the financial institution until 1986 when an inaccurate interest rate projection caused his department to lose $100 million.
These ups and downs projected a strong sense of belief and he eventually made the decision to launch a company that would invest clients’ money while also adding complete risk management.
Fink co-founded BlackRock in 1988 and served as its director and CEO while working for The Blackstone umbrella. Fink held his roles when BlackRock broke away from Blackstone in 1994, and he kept them when BlackRock became more autonomous in 1998.
Prior to this, he held the following roles at the company: head of the corporate council, co-chair of the global client committee, chairman of the board, and chairman of the executive and leadership committees.
How does BlackRock make money?
According to AUM, BlackRock is among the biggest investment management firms in the world. The business is run by a single business division. The majority of the company’s income comes from fees for investment management and advice.