The son of a shoe store owner, Larry Fink rose to become one of the most prominent financial figures in the world.
Fink is best known for his roles as Chairman and CEO of BlackRock. In the years since Fink cofounded the company in 1988, he has built one of the world’s most powerful asset-management houses, with more than $10 trillion under management. This has given Fink's company enormous power over the global financial system. Not only is BlackRock one of the biggest shareholders in virtually every major U.S. company, but it is also one of the biggest lenders to companies and governments around the world. Meanwhile, its technology platform, Aladdin, provides essential wiring for swaths of the global investment industry.
Fink’s origins, however, are far more modest. His dad had a shoe store, while his mother taught English. After receiving a political science degree from UCLA, Fink earned an MBA in real estate and got started on Wall Street at the age of 24. Despite his long hair and penchant for wearing jewelry (both uncommon for the industry at the time), his hard work was quickly recognized by managers who groomed him for the CEO role at First Boston. After three years on Wall Street, he was appointed head of generating and creating mortgage-backed securities. At 27, he was the youngest chief executive. During his time at First Boston, he likely added at least $1 billion to the company's bottom line.
This phenomenal achievements influenced his decision to start his own company, which he did in 1988. Since then, BlackRock's success has put Fink in the three-comma club, with his net worth estimated to be more than $1 billion, as reported by Forbes magazine in April 2022.
On top of financial rewards, Fink has been given numerous industry recognitions over the years. For example, Barron’s named him one of the "World's Best CEOs" for 14 consecutive years.
In addition to BlackRock, Fink serves as a member of the Board of Trustees for both New York University (NYU) and the World Economic Forum and is Co-Chairman of the NYU Langone Medical Center Board of Trustees. He also serves on the boards for the Tsinghua University School of Economics and Management in Beijing, the Executive Committee of the Partnership for New York City, and the Museum of Modern Art. In 2018, he was ranked #28 on the Forbes list of The World's Most Powerful People.