BlackRock controls more assets than any other investment management firm on Wall Street, with about $10 trillion now under management. (Yes, that’s “trillion” with a “t.”)
BlackRock has used much of this wealth to seize control of sizeable minority stakes in numerous publicly traded companies, making BlackRock and its CEO, Larry Fink, the most powerful forces in corporate America. When BlackRock and Fink speak, Wall Street listens.
There is emerging evidence, however, that BlackRock’s influence is not limited to the corporate and financial spheres. After years of building political alliances and making a laundry list of strategic hires, BlackRock has managed to amass huge amounts of political clout within the Biden administration and U.S. Federal Reserve, allowing them to develop unprecedented strategic partnerships and, according to our new research, gain access to officials in the White House.
Earlier in June, we conducted a detailed analysis of key players at BlackRock and their potential relationships with figures within the Biden administration. Our most important finding reveals that a top executive at BlackRock’s Investment Institute not only has deeply personal ties to White House staff, he has also frequently visited the White House, participating in closed-door meetings with staff from the Office of Cabinet Affairs and the National Security Council. Read more…