BlackRock: The World's Largest Investment Firm
What is BlackRock?
BlackRock is an investment management company that provides a wide range of financial products and services to individual and institutional investors. It was founded in 1988 and is headquartered in New York City. BlackRock is the world's largest investment firm, with over $10 trillion in assets under management. With its massive assets, BlackRock is one of the influential players in the global financial landscape.BlackRock: A Controversial Company
BlackRock has been the subject of controversy in recent years. Critics of the company argue that it is too big and powerful and that it has too much influence over the financial system. Some have accused BlackRock of prioritizing profits over the interests of its clients and of contributing to financial instability. BlackRock Index Funds have eliminated international stocks from its funds, arguing that US stocks are undervalued. Detractors see a conflict of interest, as BlackRock would have a vested interest in promoting US stocks over international stocks regardless of value.In 2022, BlackRock was criticized for its support of companies that contribute to climate change. The company has been accused of hypocrisy, as it claims to be committed to sustainability while continuing to invest in fossil fuel companies. Climate Action 100+, a group of investors focused on climate change, has called on BlackRock to do more to address climate risk. BlackRock has responded to the criticism by saying that it is committed to engaging with companies on climate change and that it will continue to invest in fossil fuels as long as there is demand for them.
