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Larry Fink

American billionaire businessman and BlackRock CEO.

Larry Fink

Laurence Douglas Fink, born on November 2, 1952, is the co-founder, chairman, and CEO of BlackRock, the world's largest money-management firm with over US$10 trillion in assets. As of April 2022, his net worth was estimated at US$1 billion. Fink is also a board member of the Council on Foreign Relations and World Economic Forum.

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Larry Page Bill Ackman Alan Greenspan Goldman Sachs Carl Icahn Larry Ellison Hedge Fund Morgan Stanley Bloomberg L.P.Ray Dalio

Timeline

Larry Fink's Birth

Larry Fink, the future CEO of BlackRock, was born in Van Nuys, California, to a Jewish family. He would go on to become a prominent figure in the world of finance and investment.

Larry Fink Earned BA from UCLA

In 1974, Larry Fink obtained his Bachelor of Arts (BA) degree from the University of California at Los Angeles (UCLA).

Larry Fink Starts Career at First Boston

After completing his MBA, Larry Fink began his career at First Boston in 1976, where he played a key role in developing the mortgage-backed security market in the United States.

First Boston Loss and Departure

In 1986, Larry Fink's incorrect prediction about interest rates led to a $100 million loss in his department at First Boston, resulting in his departure from the company.

Larry Fink Becomes CEO of BlackRock

Larry Fink assumed the role of CEO of BlackRock when he co-founded the company in 1988. As the CEO, he played a pivotal role in the growth and success of BlackRock to become one of the world's largest asset managers.

Larry Fink's Role in BlackRock's Spin-Off

In 1994, Larry Fink was instrumental in the spin-off of BlackRock from The Blackstone Group. This strategic decision allowed BlackRock to operate independently and set the stage for its future success.

BlackRock Diversification

Under Larry Fink's leadership, BlackRock diversified its services and investment strategies from fixed income to a wide range of investment products including equities, alternatives, ETFs, and crypto-backed ETFs pending approval.

BlackRock Goes Public

BlackRock, the investment management firm founded by Larry Fink, went public in 1999. This marked a significant milestone in the company's history and allowed for further growth and expansion.

Negotiation of Richard Grasso's Resignation

In 2003, Larry Fink helped negotiate the resignation of Richard Grasso, the CEO of the New York Stock Exchange, due to public criticism over his $190 million pay package.

Merger with Merrill Lynch Investment Managers

In 2006, Larry Fink led BlackRock in merging with Merrill Lynch Investment Managers, effectively doubling BlackRock's asset management portfolio.

Joining Donald Trump's Business Forum

In December 2016, Larry Fink joined a business forum initiated by then president-elect Donald Trump to offer strategic and policy advice on economic matters.

Code Pink Activist Confronts Larry Fink

In September 2018, an activist from the U.S. non-profit organization Code Pink confronted Larry Fink, the CEO of BlackRock, onstage at the Yahoo Finance All Markets Summit over BlackRock's investments in weapon manufacturers.

Cancellation of Saudi Investment Conference

After the murder of Jamal Khashoggi in October 2018, Larry Fink decided not to attend an investment conference in Saudi Arabia.

Leadership in Social and Political Issues

In his 2019 letter, Larry Fink emphasized the need for companies and CEOs to take the lead in addressing social and political challenges when governments fall short.

Focus on Environmental Sustainability

In his 2020 annual letter, Larry Fink declared environmental sustainability as a central objective for BlackRock's future investments, highlighting the impact of climate on the economy.

End of the Timeline
Larry Fink

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