Larry Fink

Blackrock Investment Management LLC

Larry Fink

Assets Under Management: $6.3 T
Net Worth: $1 B
Age: 66
Location: New York, NY
Education: UCLA (B.A.)
UCLA Anderson Graduate School of Management (M.B.A.)

Larry Fink: A Positive Contribution

The inestimable influence of Larry Fink and Blackrock, Inc. is so well-known that Mr. Fink hardly needs an introduction.  In fact, he’s such a fixture within the financial community that it feels like he’s always been there.

But, like any other whale, Laurence Douglas Fink had to start somewhere.  Mr. Fink, more commonly known as Larry, was born on November 2, 1952 and grew up in Van Nuys, California; he earned a B.A. in political science from UCLA in 1974 and then received an M.B.A. in real estate from the UCLA Anderson Graduate School of Management in 1976.

Larry’s career in finance began in earnest when he joined The First Boston Corporation as a managing director in 1976.  There, he quickly became one of the first mortgage-backed securities traders on Wall Street; during his tenure at First Boston, Mr. Fink also served as co-head of the Taxable Fixed Income Division, started the Financial Futures and Options Department, and headed the Mortgage and Real Estate Products Group.

Laurence’s fast track to whale-dom, however, really began when he and seven partners founded BlackRock Inc. in 1988.  Under Larry Fink’s leadership, the firm has grown into a global leader in investment and technology solutions; the firm’s $6.29 trillion in assets under management make it the world’s largest asset manager.

Operating globally with 70 offices in 30 countries and clients in 100 countries, has been called “the most influential financial institution in the world” by Evercore Partners CEO Ralph Schlosstein and was listed among the world’s 50 Most Admired Companies by Fortune in 2013.

As for Mr. Fink himself, he’s been named one of the World’s Greatest Leaders by Fortune, and Barron’s has identified Larry as one of the World’s Best CEOs for 12 consecutive years.  I could continue with the list of accolades, but that would take up quite a bit of space; suffice it to say that Laurence Fink’s influence has not gone unnoticed.

Although the media announced that Larry Fink had attained billionaire status in early 2018, what really cements his legacy as a financial whale is his approach to investing: Mr. Fink helped popularize exchange-traded funds, making it simpler and more convenient to diversify and build wealth through a multiplicity of assets.  

And so, Laurence Fink has fulfilled one of his stated objectives: to make “a positive contribution to society.”  That, more than delivering profits, is our responsibility, according to Mr. Fink in a recent letter to CEOs of public companies.

The impact that Larry Fink and Blackrock have made on finance is deep and lasting.  Even among the financial elite, respect is always given – or as Kyle Sanders put it most succinctly, “You have to look at Larry when you think of asset management.”

REFERENCES

Download the App to See Their Active Portfolio

Copyright © 2018 Alfa Investing