BlackRock is the name of an American investment company that was founded in 1988. To the surprise of many, but expected by some, it experienced rapid growth. Within just 10 years, the company was managing $1 trillion in assets. Today, that amount has increased tenfold. Despite its enormous size, BlackRock remains relatively modest and avoids the public eye. There isn’t much information about it on the internet, and you’ll find almost nothing about it in major media outlets. Why is this the case? Could there be something to hide? Let’s shed some light on this rather dark corner.
Trillions in Assets
According to a 2023 report, BlackRock managed assets worth over $10 trillion, roughly equivalent to the combined annual budgets of the United States and China. Of course, this money doesn’t belong to a single person and is unlikely to be gathered into one account, but the figure is impressive nonetheless. In fact, it may not even reflect the full picture. BlackRock owns “Aladdin,” financial market analysis software. This software is used by other large investment firms and multinational corporations. As a result, BlackRock may indirectly control up to $20 trillion. To put this into perspective, this amounts to approximately 10% of all the financial assets in the world.
Why You Haven’t Heard of BlackRock
How can something so enormous remain in the shadows? There are two answers. First, professional economists and large investors are well aware of this name. Second, for others, there’s no need to know. Money loves silence, and this is ensured through investments in all the largest U.S. media companies. CNN, CBS, Fox, Disney, ABC, Sinclair Broadcast Group — BlackRock owns between 8% and 18% of shares in all of these corporations. This is enough to have voting rights on their boards of directors and, consequently, influence the policies of media conglomerates. The picture becomes even clearer when you look at the subsidiaries of these giants. Detailing this would take several pages, so let’s summarize briefly. In one way or another, BlackRock has influence over 95% of American TV channels and more than 1,000 print publications.
The Fourth Estate
Traditionally, in a legal state, there are three branches of government: legislative, executive, and judicial. The term “fourth estate” was coined by British historian and poet Thomas Babington in the mid-19th century. He believed that journalists and the media had as much influence on society as politicians and state laws. While BlackRock tries, it still can’t remain entirely in the shadows. Conspiracy theorists have built hypotheses, calling the company the real “fourth estate” in the U.S. It’s not about media activity but about the astonishing leniency shown by the government and the Federal Reserve. In 2020, during the pandemic, the Federal Reserve tasked BlackRock with buying up depreciating government and corporate bonds. The company was promised unlimited funds for this task. Following this, the Bank of Canada and the European Union also turned to BlackRock for assistance.
No Competition
Capitalism teaches that market competition is good and monopolization is bad. That’s why all countries have antitrust regulators. In the U.S., it’s called the Federal Trade Commission, and it seems they don’t pay much attention to BlackRock. Although the situation clearly warrants scrutiny. BlackRock holds a blocking stake (more than 5%) in half of all publicly traded U.S. companies. In many cases, this means having influence over direct competitors. For example, BlackRock owns about 10% of shares in both Coca-Cola and PepsiCo and is the largest investor in Boeing and Airbus, Apple and Microsoft. But these are just high-profile brands. The problem runs much deeper. BlackRock similarly holds shares in competing mining and oil companies, steel plants, automotive giants, and, of course, banks, including all of those in the so-called “Big Four.”
Big Pharma
This is the name of a conspiracy theory that claims large pharmaceutical companies are in collusion, raising drug prices in coordination. Sometimes it’s even claimed that these corporations deliberately add addictive substances to medications or intentionally harm consumers’ health. Let’s leave those assertions to the relevant experts, but what about the prices? Most people are aware of how expensive healthcare is in the U.S. It’s not just a propaganda cliché — part of the answer is right in front of us. BlackRock holds blocking stakes in Pfizer, Johnson & Johnson, and Merck, the three largest pharmaceutical companies in America. According to reports, in 2000, these corporations paid their shareholders $30 billion. By 2024, this number had exceeded $170 billion. These aren’t industrial giants, banks, or software makers. They extract money directly from people by selling drugs that are constantly increasing in price.
Who Owns BlackRock
As of 2023, 80% of BlackRock’s shares were owned by institutional investors. These are legal entities such as pension funds, insurance companies, banks, and other investment firms. BlackRock’s own funds hold only 7% of its shares, which still amounts to a massive sum—almost a trillion dollars. The key figure in the company is Laurence Douglas Fink. You may not have heard this name, although Forbes has included the BlackRock CEO in its list of the most influential people in the world multiple times. Laurence Fink’s biography, available in public sources, is exceptionally neutral. He advocates for all things good and opposes all things bad. He emphasizes the need to rethink our relationship with nature, supports freedom of speech, and calls for the fight against poverty. However, it’s worth noting that BlackRock does not have the funds allocated for that particular fight.
There’s also one remarkable detail: Laurence Fink, who manages $10 trillion, publicly declared that he is a lifelong supporter of the Democratic Party. These may seem like just words, but imagine their weight on the political stage. During election campaigns, certain candidates can likely count on a friendly helping hand.
