Larry Fink

Monday, June 20, 2011

Though many Americans may not recognize his name, Fink just might be one of the most powerful men in the post-bailout economy. In the past year, BlackRock, the giant money-management firm that Fink founded 22 years ago (after being fired from his job at First Boston) has only grown in size and influence, and is said to manage or monitor some $12 trillion in assets. Friend Ken Langone (co-founder of Home Depot and a former director of the New York Stock Exchange) says Fink is “at the hub of the wheel of American capitalism.” BlackRock’s $13.5 billion-acquisition of Barclays Global Investors in December, 2009, was made all the more remarkable by its post-financial-meltdown timing, with revenues at the firm doubling from 2009 to 2010. Fink has Washington’s ear, a permanent table at San Pietro and a portfolio bulging with savvy moves, even with the ill-fated investment with Tishman Speyer in Stuyvesant Town and Peter Cooper Village. Fink lives with his wife of 35 years in North Salem, New York, on a 26-acre farm. They also have an apartment on the Upper East Side and a home in Aspen.


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