BORROWED WISDOM

 Black Rock is a multi-national investment company based in New York City.  It is the world's largest asset manager.  Black Rock manages about $8.6 trillion in assets (as of the end 2022) and it had a net income of $5.18 billion.   

The firm employs almost 20,000 people around the world but mostly in NYC. At the top is CEO Larry Fink.  The 70-year-old Fink founded the company in 1988.  You can purchase it's stock for about $655/share.  

Black Rock is a major stock holder or directs their clients to hold stocks in many companies across many industries.  This empowers them with great influence on decisions made by these companies.  

Black Rock management has directed their firm(s) to be a huge promoter of environmental, social and governance (ESG) investing.  They have received some push-back from some states because of their stance in this regard - that is, directing clients to invest solely in firms in tune with their ESG vision.  Recently, Florida became the 6th state to divest itself from Black Rock because of that.  

Now, Black Rock has upped its holdings of Fox Corporation to 15% which is worth about $1.35 billion.  It may be a step to use its monetary leverage to sway Fox News content.  Did I mention that Larry Fink was a registered Democrat?  

When you're looking for those that wield the most power in this country, don't discount the asset managers.