Who is Larry Fink
Larry Fink also known as Laurence Douglas Fink (born November 2, 1952) is an American businessman and billionaire. He currently serves as the chairman and CEO of BlackRock, an American multinational investment management firm.
With more than US$10 trillion in assets under management, BlackRock is the world’s largest money-management firm, wielding enormous power over the global financial system.
He is a member of the Council on Foreign Relations and the World Economic Forum’s boards of directors.
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Biography
On November 2nd, 1952, Fink was born. He was the middle child of a Jewish couple (his mother Lila was an English professor and his father Frederick ran a shoe store) in the Los Angeles suburb of Van Nuys.
In 1974, he attended UCLA and graduated with a BA in Political Science. Fink has joined Kappa Beta Phi as well. In 1976, he attended UCLA’s Anderson Graduate School of Management and earned an MBA with a concentration in real estate.
Age and Birthday
Larry was born on 2 November 1952. He is 68 years old.
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Personal Life
Since 1974, Fink has been happily married to his wife Lori, who was also his high school sweetheart. The couple is parents to three children. Their eldest son, Joshua, served as CEO of Enso Capital, a hedge fund that has since closed its doors and in which Fink had a stake.
The Finks have houses and apartments in Manhattan, North Salem, and Vail, all of which are located in the state of New York.
Larry Fink Net Worth vs Elon Musk
Larry has a net worth of $1 billion as of the time of writing this article. Even though he is a billionaire, Elon Musk is still way richer than him. Elon musk has a net worth of about 187.3 billion USD., Making him the second richest man in the world after Bernard Arnault who has a net worth of $208 Billion.
Net Worth
According to Forbes and Celebrity Net Worth, As of [year], Larry Fink has an estimated net worth of $1 Billion.
Career
Larry began his career as an investment banker at First Boston. He rose to prominence as one of the first traders to use mortgages to back his securities.
He rose through the ranks to become the bank’s first bond department manager after a few years. During his tenure, he established and led several new departments in the bank and added more than a billion dollars to the bank’s portfolio.
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He made a decision in 1986 that cost the bank $100 million, but there was a bright side. This blunder inspired him to found BlackRock, a firm focused on client investment and risk management.
BlackRock was founded in 1988 as part of the Black Stone Group. They separated from the rest of the company in 1994, and the company went public in 1999.
Fink has worked with a variety of companies to help guide their investments, including the Merrill Lynch merger in 2006. When BlackRock paid $5.4 billion for a housing complex, it became the buyer in the country’s largest real estate transaction. That transaction eventually ended in default.
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Originally posted on March 19, 2023 @ 12:08 am