What is Larry Fink known for? (Biography)
Larry Fink is an American billionaire and the founder, chairman, and CEO of BlackRock. In 1988, he and seven other partners established BlackRock, which has since expanded to become a world leader in technology and investment solutions.
Larry Fink Age
He is 72 years old as of 2 November 2024. He was born on 2 November 1952 in Van Nuys, Los Angeles, California, United States.
Larry Fink Wife and Children
Since 1974, Fink has been married to Lori Weider, his high school sweetheart. The couple has three kids. Fink owned stock in the now-defunct hedge fund Enso Capital, where their eldest son Joshua served as CEO.
Larry Fink Children and Grandchildren
Fink’s oldest son, Joshua Fink, served as the chief executive officer of Enso Capital, a hedge fund that Fink owned stock in. Fink has two other children; a daughter Tamara Fink, and a son, Daniel Fink.
Larry Fink Parents and Siblings
He was raised in Van Nuys, California, as one of three children in a Jewish household. His father, Frederick (1925–2013), had a shoe store, while his mother, Lila (1930–2012), taught English.
Larry Fink House
Actor Stanley Tucci sold them Finch Farm in North Salem, New York, in 2004 for $3.7 million. Since then, they have purchased seven more parcels of land there, including 27 acres from Peter Kamenstein, the town’s deputy supervisor, in 2019 for $5.4 million and one from Maurice Sendak. They also own a home in Aspen, Colorado, and an apartment on Manhattan’s Upper East Side.
Larry Fink Salary
The overall salary for Fink, the CEO of BlackRock, increased by 9% from 2022 to $27.5 million in 2023. This was more than the typical salary for a CEO of an asset management company in that year.
Larry Fink Career
Fink began his career in 1976 at First Boston, an investment bank in New York, where he oversaw the bond division and was among the first traders of mortgage-backed securities. Up until 1986, when his department lost $100 million as a result of his inaccurate interest rate projection, he was a successful employee at the bank. In 1988, Fink became the director and CEO of BlackRock, which he co-founded under the Blackstone Group. Fink kept his jobs after BlackRock and Blackstone split in 1994, rising to the post of chairman in 1998.
In 1999, BlackRock went public and assisted in negotiating Richard Grasso’s resignation as CEO of the New York Stock Exchange. Fink oversaw Merrill Lynch Investment Managers’ 2006 merger, which increased BlackRock’s asset management holdings. After acquiring Barclays Global Investors in 2009, BlackRock grew to become the world’s biggest money management company.
By 2016, BlackRock employed 12,000 people across 27 countries and managed $5 trillion. For exceptional leadership in banking and finance and a dedication to constructive professional collaboration between the United States and the Middle East and North Africa, Fink was granted the ABANA Achievement Award in 2016. Fink was listed as the 28th most powerful person in the world by Forbes in 2018.
A well-known philanthropist and investor, Fink has served in a number of capacities at NYU, including trustee of the Boys and Girls Club of New York, co-chair of the board of NYU Langone Medical Center, and chairman of the Financial Affairs Committee. He has participated in business conferences hosted by then-elect Donald Trump and established the Lori and Laurence Fink Center for Finance & Investments at UCLA Anderson in 2009.
Fink has urged businesses to take an active role in enhancing the environment, the community, and the diversity of their workforce. In the event that governments are unable to handle social and political concerns, he also urged CEOs to assume leadership roles. The impact of climate change on economics was highlighted in Fink’s 2020 annual open letter, which declared environmental sustainability as a primary objective for BlackRock’s future investment decisions. He is a supporter of the New York City Police Foundation, which gives the police force funding.
