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Larry Fink
Laurence Douglas Fink (born November 2, 1952) is an American billionaire businessman. He is a co-founder, chairman, and CEO of BlackRock, an American multinational investment management corporation. BlackRock is the largest money-management firm in the world with more than US$10 trillion in assets under management. In April 2024, Fink's net worth was estimated at US$1.2 billion according to Forbes. He sits on the board of the World Economic Forum. In 2025, Time magazine listed him as one of the world's 100 most influential people.
Fink was born on November 2, 1952. He grew up as one of three children in a Jewish family in Van Nuys, California. His mother Lila (1930–2012) was an English professor and his father Frederick (1925–2013) owned a shoe store. He earned a BA in political science from UCLA in 1974. Fink was also a member of Kappa Beta Phi. He then received an MBA in real estate at the UCLA Anderson School of Management in 1976.
Fink started his career in 1976 at First Boston, a New York-based investment bank, where he was one of the first mortgage-backed security traders and eventually managed the firm's bond department. At First Boston, Fink was a member of the management committee, a managing director and co-head of the Taxable Fixed Income Division. He also started the Financial Futures and Options Department and headed the Mortgage and Real Estate Products Group.
Vanity Fair reported in 2010 that Fink had increased First Boston's assets by about $1 billion. He was successful at the bank until 1986, when his department lost $100 million due to his incorrect prediction about interest rates. The experience influenced his decision to start a company that would invest clients' money while also incorporating comprehensive risk management.
In 1988, under the corporate umbrella of The Blackstone Group, Fink co-founded BlackRock and became its director and CEO. When BlackRock split from Blackstone in 1994, Fink retained his positions, becoming chairman in 1998 after BlackRock became independent. His other positions at the company have included chairman of the board, chairman of the executive and leadership committees, chair of corporate council and co-chair of the global client committee. BlackRock went public in 1999.
In 2003, Fink helped to negotiate the resignation of the CEO of the New York Stock Exchange, Richard Grasso, who was widely criticized for his $190 million pay package. In 2006 Fink led the merger with Merrill Lynch Investment Managers, which doubled BlackRock's asset management portfolio. That same year, BlackRock's $5.4 billion purchase of Stuyvesant Town–Peter Cooper Village, a Manhattan housing complex, became the largest residential-real-estate deal in U.S. history. When the project ended in default, BlackRock clients lost their money, including the California Pension and Retirement System, which lost about $500 million.
The U.S. government contracted BlackRock to aid its recovery after the 2008 financial crisis. Fink's longstanding relationships with senior government officials have led to questions about potential conflicts of interest regarding government contracts awarded without competitive bidding. BlackRock's contract led to relationships with Obama's first Treasury Secretary Tim Geithner and other members of the Obama economic recovery team. In 2016, Fink aspired to becoming Hillary Clinton's Treasury Secretary. Blackrock also hired many former executive branch appointees to its firm, strengthening its association with the federal government.
In December 2009, BlackRock purchased Barclays Global Investors, at which point the company became the largest money-management firm in the world. Despite his great influence, Fink is not widely known publicly, apart from his regular appearances on CNBC. BlackRock paid Fink $23.6 million in 2010, and $36 million in 2021. By 2016, BlackRock had $5 trillion under management, with 12,000 employees in 27 countries.
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Larry Fink
Laurence Douglas Fink (born November 2, 1952) is an American billionaire businessman. He is a co-founder, chairman, and CEO of BlackRock, an American multinational investment management corporation. BlackRock is the largest money-management firm in the world with more than US$10 trillion in assets under management. In April 2024, Fink's net worth was estimated at US$1.2 billion according to Forbes. He sits on the board of the World Economic Forum. In 2025, Time magazine listed him as one of the world's 100 most influential people.
Fink was born on November 2, 1952. He grew up as one of three children in a Jewish family in Van Nuys, California. His mother Lila (1930–2012) was an English professor and his father Frederick (1925–2013) owned a shoe store. He earned a BA in political science from UCLA in 1974. Fink was also a member of Kappa Beta Phi. He then received an MBA in real estate at the UCLA Anderson School of Management in 1976.
Fink started his career in 1976 at First Boston, a New York-based investment bank, where he was one of the first mortgage-backed security traders and eventually managed the firm's bond department. At First Boston, Fink was a member of the management committee, a managing director and co-head of the Taxable Fixed Income Division. He also started the Financial Futures and Options Department and headed the Mortgage and Real Estate Products Group.
Vanity Fair reported in 2010 that Fink had increased First Boston's assets by about $1 billion. He was successful at the bank until 1986, when his department lost $100 million due to his incorrect prediction about interest rates. The experience influenced his decision to start a company that would invest clients' money while also incorporating comprehensive risk management.
In 1988, under the corporate umbrella of The Blackstone Group, Fink co-founded BlackRock and became its director and CEO. When BlackRock split from Blackstone in 1994, Fink retained his positions, becoming chairman in 1998 after BlackRock became independent. His other positions at the company have included chairman of the board, chairman of the executive and leadership committees, chair of corporate council and co-chair of the global client committee. BlackRock went public in 1999.
In 2003, Fink helped to negotiate the resignation of the CEO of the New York Stock Exchange, Richard Grasso, who was widely criticized for his $190 million pay package. In 2006 Fink led the merger with Merrill Lynch Investment Managers, which doubled BlackRock's asset management portfolio. That same year, BlackRock's $5.4 billion purchase of Stuyvesant Town–Peter Cooper Village, a Manhattan housing complex, became the largest residential-real-estate deal in U.S. history. When the project ended in default, BlackRock clients lost their money, including the California Pension and Retirement System, which lost about $500 million.
The U.S. government contracted BlackRock to aid its recovery after the 2008 financial crisis. Fink's longstanding relationships with senior government officials have led to questions about potential conflicts of interest regarding government contracts awarded without competitive bidding. BlackRock's contract led to relationships with Obama's first Treasury Secretary Tim Geithner and other members of the Obama economic recovery team. In 2016, Fink aspired to becoming Hillary Clinton's Treasury Secretary. Blackrock also hired many former executive branch appointees to its firm, strengthening its association with the federal government.
In December 2009, BlackRock purchased Barclays Global Investors, at which point the company became the largest money-management firm in the world. Despite his great influence, Fink is not widely known publicly, apart from his regular appearances on CNBC. BlackRock paid Fink $23.6 million in 2010, and $36 million in 2021. By 2016, BlackRock had $5 trillion under management, with 12,000 employees in 27 countries.