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Fink Says GOP Debate Was Filled With Misinformation About BlackRock

Fink Says GOP Debate Was Filled With Misinformation About BlackRock

BlackRock Inc. Chief Executive Officer Larry Fink said Republican presidential candidates are spreading misinformation about the world’s largest asset manager, declaring their preoccupation with the firm “a sad commentary on the state of American politics.”

Fink pushed back on several claims made during this week’s Republican debate, suggesting in a Thursday post on Linkedin that candidates were ignoring the main issues facing the US such as “ballooning national debt.” Some candidates mentioned BlackRock more times than they did inflation or the national debt, he added.

Fink rejected claims that BlackRock was deterring investment in the oil industry, saying that BlackRock clients have invested more than $170 billion in US energy companies.

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“We’ve been entrusted to manage more assets than any other company in our industry because we have a track record over more than 30 years of managing retirement savings,” he wrote.

Fink met with at least five candidates in this campaign cycle and hasn’t endorsed any, he wrote.

“I meet with policymakers all the time to understand the implications for our clients,” he wrote. “That’s my job.”

Gallery

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