When it comes to the world of finance, few names are as well-known as Larry Fink. As the CEO and co-founder of BlackRock, Fink has played a major role in shaping the modern financial landscape. But just how much is his net worth?.
Before we get into his net worth, let's first take a closer look at who Larry Fink is. Born in 1952 in Van Nuys, California, Fink graduated from the University of California, Los Angeles with a degree in political science. After college, he went on to work at First Boston, a now-defunct investment bank, where he rose through the ranks to become the head of the mortgage and real estate finance division.
Larry Fink Net Worth: How much does Larry Fink make?
In 1988, Fink and a group of partners founded BlackRock, which has since become one of the largest investment management firms in the world. Fink has served as CEO of the company since its inception, and has been credited with driving its impressive growth over the past several decades.
So, just how much is Larry Fink worth? According to Forbes, Fink's net worth as of March 2023 is approximately $2.8 billion. However, it's worth noting that Fink's net worth has fluctuated significantly over the years, largely due to his holdings in BlackRock.
In 2007, for example, Fink's net worth was estimated to be around $11 billion. However, the 2008 financial crisis hit BlackRock hard, causing the value of Fink's holdings to drop significantly. In recent years, however, the company has bounced back, with its stock price reaching record highs in 2022.
It's also worth noting that Fink's compensation as CEO of BlackRock is substantial. In 2021, for example, he received a total compensation package of $38 million. This figure includes a base salary of $1.5 million, as well as stock awards and other performance-based bonuses.
So, how did Larry Fink amass such an impressive fortune? There are a few key factors that have contributed to his success.
First and foremost, Fink's success can largely be attributed to his leadership of BlackRock. Under his guidance, the company has grown into a behemoth in the investment management world, with assets under management of over $9 trillion as of 2022. This has translated into significant wealth for Fink, given his significant ownership stake in the company.