New Delhi: When we think of the world’s most influential and wealthy individuals, names like Elon Musk, Bill Gates, Jeff Bezos, Mark Zuckerberg, Mukesh Ambani, and Gautam Adani come to mind. But you may be amazed to know that there is someone in America who is more influential than these personalities. Larry Fink is the CEO of BlackRock, the world’s largest asset management firm. Larry recently grabbed the headlines due to his comments on the future of cryptocurrency at the World Economic Forum in Davos. Fink predicted that the price of Bitcoin could reach as high as USD 700,000.
It was in the year 1988, when American billionaire businessman Larry Fink founded BlackRock. BlackRock is the world’s largest financial firm which manages assets worth USD 7.4 trillion. As of December 2024, BlackRock’s market capitalization stood at USD 12.808 trillion, ranking it as the 102nd most valuable company globally. The assets under BlackRock’s management are so massive that they exceed the GDP of many countries.
It is important to note that BlackRock’s worth is nearly half of the United States’ GDP. The company holds 10% of the total global stocks and bonds. Due to its investments in nearly every major company, BlackRock is also referred to as the world’s largest shadow bank.
All You Need to Know About Larry Fink
- Larry Fink is Chairman and Chief Executive Officer of BlackRock.
- In 1988, he and along with his seven partners founded BlackRock
- Under his leadership, the firm has grown into a global leader in investment and technology solutions.
- The mission of BlackRock is to help our clients build better financial futures
- The firm is trusted to manage more money than any other investment company in the world.
- Fink was also a member of the management committee and a managing director of The First Boston Corporation.
- He serves as a member of the Board of Trustees of the World Economic Forum and is Co-Chair of the NYU Langone Medical Center Board of Trustees.
- In addition, he serves on the boards of the Museum of Modern Art and the International Rescue Committee.
- He also serves on the Advisory Board of the Tsinghua University School of Economics and Management in Beijing and on the Executive Committee of the Partnership for New York City.
- Fink earned an MBA from the University of California at Los Angeles (UCLA) in 1976 and a BA from UCLA in 1974.
Larry Not Listed Among Billionaires
Despite being the founder and CEO of an asset management firm, Larry Fink does not feature in any billionaire list. The main reason is that the money under Larry Fink’s management is entirely the public’s savings. He manages this public wealth and decides which companies or global markets to invest in. BlackRock holds stakes in almost every major company worldwide, including several prominent companies in India.
BlackRock CEO Larry Fink Opinion on Bullish Bitcoin
Larry Fink, while speaking on artificial intelligence and crypto in a conversation with Bloomberg at the World Economic Forum in Davos, said that the price of Bitcoin could jump as high as USD 700,000
“As I became a student of crypto, it was very clear to me that crypto is a currency of fear,” said Fink. “But that’s OK. If you’re frightened of the debasement of your currency, or the economic or political stability of your country, you can have an international-based instrument called Bitcoin that can overcome those local fears.”
He shared a similar sentiment last July, suggesting that Bitcoin was an investment for those “frightened of the world.”
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