Laurence Douglas Fink, known as Larry Fink, is a talented American businessman. He is famous as the co-founder and CEO of BlackRock, an American global investment management corporation.
Here at World Celebrity Net Worth, we delve into the intriguing topic of Larry Fink net worth 2023, shedding light on the key factors that contribute to his financial success.
What is Larry Fink Net Worth and Salary 2023?
According to Celebrity Net Worth, Larry Fink’s net worth is an estimated $1 billion in 2023, becoming one of the richest businessmen all around the world.
As the leader of a company that controls assets approaching $5 trillion, Fink’s financial success is undeniable. In 2022, his total pay was $32.7 million which was a little more than the $32.6 million he got in 2021.
However, according to a regulatory filing, his total compensation was reduced by 30% to $25.2 million for 2022. Despite this reduction, Fink remains one of the best-paid executives among the 14 publicly listed firms reviewed by Citywire.
In 2023, BlackRock celebrated its 35th anniversary and 24 years since its initial public offering, milestones that Fink could not have imagined back in the late eighties.
Throughout his tenure, Fink has consistently delivered growth and value for shareholders, with BlackRock generating nearly $400 billion in long-term net new assets in 2022 alone.
Larry Fink’s Overview
Early Life
Larry Fink was born in Van Nuys, California, on November 2, 1952. His mother, Lila, was an English professor. And his father, Frederick, owned a shoe store.
Fink’s early life was shaped by his parents’ dedication to education and hard work. He pursued higher education at the University of California where he earned a Bachelor of Arts degree in Political Science in 1974.
Fink’s passion for learning continued as he enrolled in UCLA Anderson Graduate School of Management’s MBA program, specializing in Real Estate. He completed his MBA in 1976, laying the foundation for his future career in finance.
Career
Fink began his illustrious career in 1976. He joined First Boston, a New York-based investment bank where he became one of the first mortgage-backed security traders and eventually managed the firm’s bond department.
During his tenure at First Boston, Fink was a member of the management committee, a managing director, and co-head of the Taxable Fixed Income Division.
He also started the Financial Futures and Options Department and headed the Mortgage and Real Estate Products Group.
In 1988, Fink co-founded BlackRock under the corporate umbrella of The Blackstone Group and became its director and CEO.
When BlackRock split from Blackstone in 1994, Fink retained his positions, which he continued to hold after BlackRock became more independent in 1998.
BlackRock went public in 1999, and in 2009, it acquired Barclays Global Investors, making it the world’s largest asset manager. Under Fink’s leadership, BlackRock has grown exponentially, attracting clients and employees while acquiring several other asset management companies.
Fink’s career has been marked by numerous achievements and accolades. It includes the ABANA Achievement Award in 2016 and being ranked #28 on Forbes’ list of The World’s Most Powerful People in 2018.
Personal Life
He has been married to Lori since 1974. They have three kids together. Their eldest son, Joshua who was the CEO of Enso Capital. It’s a now-defunct hedge fund in which Fink had a stake.
The Fink family owns homes in Manhattan, North Salem, New York, and Vail, Colorado. A lifelong supporter of the Democratic Party, Fink is also actively involved in community service.
Why is Larry Fink Famous?
Larry Fink is famous for being the chairman and CEO of BlackRock, an American multinational investment management corporation. Fink has built a reputation as a highly influential figure in the world of finance.
Under his leadership, BlackRock has become the largest money-management firm globally, with over $10 trillion in assets under management.
FAQs about Larry Fink
What is BlackRock?
BlackRock is an American global investment management corporation based in New York City.
It was the world’s largest asset manager, overseeing trillions of dollars in assets on behalf of institutions and individuals around the world.
What is Larry Fink’s view on climate change?
Larry Fink has been vocal about the role of business in addressing climate change.
In his annual letters to CEOs, Fink has emphasized that climate risk is investment risk and has urged companies to make more robust disclosures of their exposure to climate-related risks.
Has Larry Fink received any awards or recognitions?
Fink has received numerous awards and recognitions throughout his career.
Conclusion
Larry Fink’s net worth in 2023 stands as a testament to his exceptional financial acumen and entrepreneurial brilliance.
Fink has propelled BlackRock to unparalleled heights and solidified its position as the world’s largest asset management firm.
If you want to know about him, check out our website WCnetworth.com for more information. Thanks for reading!
