![]() ![]() In the last year, a number of Republican-controlled states have announced that they're pulling their investments out of BlackRock funds. ![]() Now, he's always claimed that there's no contradiction between pursuing those goals and achieving the best returns, but in the last few years, it's striking that ESG funds have significantly underperformed the overall market. Critics accuse him of using the powerful leverage his control of so many assets gives BlackRock to coerce companies into pursuing what they call political objectives, instead of simply seeking the best and highest financial returns for his investors.įink's been a leading proponent of ESG investing, the approach that places high value on the pursuit of environmental, social, and governance objectives in investing decisions. The company Fink founded 35 years ago now invests more than $9 trillion of customer funds, and it has major stakes in most of America's biggest companies, as well as many, many more businesses around the world.īut in the last few years, Fink and BlackRock have been at the center of a roiling debate about the nature of modern capitalism and the right role of business in society. Larry Fink is the co-founder and chief executive of BlackRock, the world's largest asset management company. ![]() This week, an interview with the man who has a good claim to the title of the most influential capitalist in the world, but a man who has become in recent years, especially for conservatives, something of a controversial figure. If you're not already a subscriber to Free Expression, please do sign up at Apple Podcasts, Spotify, or wherever you do your listening. I'm Gerry Baker, editor-at-large of the journal. Gerry Baker: Hello, and welcome to the Free Expression podcast for the opinion pages of the Wall Street Journal. Speaker 1: From the opinion pages of the Wall Street Journal, this is Free Expression, with Gerry Baker. This version may not be in its final form and may be updated. This transcript was prepared by a transcription service. ![]()
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