This Man Controls EVERYTHING: BlackRock

Summary

This video script delves into the rise of BlackRock and its founder Larry Fink, portraying them as a powerful force in global finance. It suggests that BlackRock's influence extends to media, governments, and major corporations, with Fink's strategic moves shaping economies. The narrative raises questions about the unchecked ambition and potential ethical implications of such dominance, presenting a cautionary tale of power and wealth accumulation.

Takeaways

• 🌍 Black Rock's Influence: The script discusses Black Rock's significant influence in global finance, with assets that surpass the GDP of the United States and control over major banks and stock exchanges.
• 🏦 Asset Management Titan: Black Rock is portrayed as a titan in the world of asset management, capable of triggering a global recession and setting major global trends.
• 💡 Aladdin Software: The development of Aladdin, a technology to assess risk and calculate derivative investments, is highlighted as a key factor in Black Rock's success.
• 📈 Market Stability: The company's ability to navigate and provide stability during financial crises, such as the 2008 Great Recession, has solidified its reputation as a financial powerhouse.
• 💼 Larry Fink's Journey: The script outlines Larry Fink's rise from a humble background to becoming one of the most powerful people in the world through his strategic business moves.
• 🏢 Black Rock's Founding: The company was founded by Larry Fink and seven others, leveraging connections and innovative technology to quickly grow in value.
• 📊 Growth and Expansion: Black Rock's growth from managing $5 million to assets worth over $22 trillion is emphasized, showcasing its rapid expansion and dominance.
• 🔄 Crisis Capitalization: The script suggests that Black Rock not only weathered financial crises but also capitalized on them to grow and increase its influence.
• 🌐 Global Media Control: It is claimed that Black Rock controls a significant portion of the global media, shaping public perception and information dissemination.
• 🏠 Real Estate Investments: The company's aggressive buying of real estate and its impact on housing prices and rental markets are mentioned as a form of economic control.
• 🤝 Government and Institutional Ties: Black Rock's close ties with governments and institutions, including advising on investment strategies during crises, are highlighted.

Q & A

What significant event coincided with the Russian invasion of Ukraine in late February?

The stock prices of the biggest US weapons manufacturers spiked at the same time as the Russian invasion of Ukraine in late February.

What is the approximate asset control of Black Rock, State Street, and Vanguard combined?

Black Rock, State Street, and Vanguard control approximately $22 trillion in assets, which is roughly equivalent to the entire gross domestic product of the United States.

What is the Aladdin software, and how does it benefit Black Rock?

Aladdin is a technology developed by Black Rock to assess liability debt and calculate derivative investments. It collects data from investors and uses it to sharpen predictions about market trends, giving Black Rock a competitive edge.

How did Larry Fink's early life and education influence his career path?

Larry Fink was born into a Jewish family in Los Angeles, with a mother who was a teacher and a father who ran a shoe store. His dislike for studying textbooks led him to be more interested in his father's business, which influenced his later career in trading and asset management.

What was the pivotal moment that led Larry Fink to establish Black Rock?

After losing $100 million due to an incorrect prediction about US interest rates, Larry Fink realized the limitations of working for someone else and decided to quit his job to start his own company, which led to the creation of Black Rock.

How did Black Rock manage to grow its assets to $8 billion within five years of its establishment?

Black Rock's growth was attributed to Larry Fink's reliable past, the use of Aladdin software, and continuous advancements like pioneering pension programs.

What was the role of Black Rock during the 2008 financial crisis?

During the 2008 financial crisis, Black Rock emerged stronger by weathering the storm and positioning itself as a safe haven for investors, including the government, which turned to it for help.

How did Black Rock adapt to the COVID-19 pandemic?

Black Rock adapted to the COVID-19 pandemic by transitioning 95% of its 16,000 employees to work from home, ensuring continuity in serving clients and managing investments without performance impact.