Rise to Success: Career Highlights of Larry Fink

From career breakthroughs to professional milestones, explore how Larry Fink made an impact.

Laurence Douglas Fink is an American billionaire and the co-founder, chairman, and CEO of BlackRock, the world's largest asset management firm. BlackRock manages over $10 trillion in assets. As of April 2024, Fink's net worth was estimated at $1.2 billion. He also serves on the board of the World Economic Forum.

Sections (3)

Full Timeline Early Life & Education Career & Achievements

1974: Fink Earned BA from UCLA

In 1974, Larry Fink earned a Bachelor of Arts degree in political science from UCLA.

1976: Fink Started Career at First Boston

In 1976, Larry Fink began his career at First Boston, an investment bank in New York. He became one of the first mortgage-backed security traders and eventually managed the firm's bond department.

1976: Fink Received MBA from UCLA Anderson

In 1976, Larry Fink received an MBA in real estate from the UCLA Anderson School of Management.

1988: Co-founded BlackRock

In 1988, Larry Fink co-founded BlackRock under the corporate umbrella of The Blackstone Group, becoming its director and CEO.

1994: BlackRock Split from Blackstone

In 1994, when BlackRock split from Blackstone, Larry Fink retained his positions as director and CEO.

1998: Fink Became Chairman of BlackRock

In 1998, Larry Fink became the chairman of BlackRock after the company became independent.

1999: BlackRock Went Public

In 1999, BlackRock became a public company.

2003: Fink Negotiated Resignation of NYSE CEO

In 2003, Larry Fink helped negotiate the resignation of the CEO of the New York Stock Exchange, Richard Grasso, after criticism of his $190 million pay package.

2006: Merger with Merrill Lynch Investment Managers

In 2006, Larry Fink led the merger of BlackRock with Merrill Lynch Investment Managers, doubling BlackRock's asset management portfolio. BlackRock also purchased Stuyvesant Town-Peter Cooper Village for $5.4 billion, which later resulted in losses for clients after the project ended in default.

2008: BlackRock contracted to help the Fed after the 2008 financial crisis

During the 2020 coronavirus pandemic, the Fed turned to BlackRock to help it purchase distressed securities, mirroring the 2008 financial crisis when BlackRock was originally contracted to help the Fed.

December 2009: BlackRock Purchased Barclays Global Investors

In December 2009, BlackRock purchased Barclays Global Investors, making the company the largest money-management firm in the world.

2009: Fink Founded Center at UCLA Anderson

In 2009, Larry Fink founded the Lori and Laurence Fink Center for Finance & Investments at UCLA Anderson and serves as its chairman.

2010: Fink's Compensation in 2010

In 2010, BlackRock paid Larry Fink $23.6 million.

2010: Vanity Fair Report on Fink's Impact at First Boston

In 2010, Vanity Fair reported that Larry Fink had increased First Boston's assets by approximately $1 billion.

December 2016: Fink Joined Trump's Business Forum

In December 2016, Larry Fink joined a business forum assembled by then president-elect Donald Trump to provide strategic and policy advice on economic issues.

2016: BlackRock's Assets and Employees in 2016

By 2016, BlackRock had $5 trillion under management, with 12,000 employees in 27 countries.

2016: Fink Aspired to be Treasury Secretary

In 2016, Larry Fink aspired to become Hillary Clinton's Treasury Secretary.

2018: Fink's 2018 Annual Letter to CEOs

In his 2018 annual open letter to CEOs, Larry Fink called for corporations to play an active role in improving the environment, working to better their communities, and increasing the diversity of their work forces, signaling a move by BlackRock to enforce these targets.

2019: Fink's 2019 Open Letter

In his 2019 open letter, Larry Fink stated that companies and their CEOs must step into a leadership vacuum to tackle social and political issues when governments fail to address these issues.

2020: BlackRock Aided Fed During Pandemic

During the 2020 coronavirus pandemic, the Fed turned to BlackRock to help it purchase distressed securities, mirroring the 2008 financial crisis.

2020: Fink's 2020 Annual Letter

In his 2020 annual open letter, Larry Fink announced environmental sustainability as a core goal for BlackRock's future investment decisions and explained how climate would become a driver in economics. He also announced that BlackRock will be cutting ties with investments involving thermal coal.

December 2021: BlackRock Teamed up with Saudi Asset Manager

In December 2021, BlackRock teamed up with a Saudi asset manager to pay $15.5 billion to buy and then lease back gas pipelines to Saudi Aramco.

2021: Fink's Compensation in 2021

In 2021, BlackRock paid Larry Fink $36 million.

2022: Fink on Companies Taking Action on Climate Change

In an open letter in 2022, Larry Fink stated "Every company and every industry will be transformed by the transition to a net-zero world. The question is, will you lead, or will you be led?"