Meet man who is ‘richer’ than Musk, Mukesh Ambani, ‘owns’ half of the US, set to start business in India with…, name is…

Larry Fink is the CEO of BlackRock, the world’s largest asset management company.

The financial firm has assets of more than USD 11 trillion, which is less than half of the GDP of the United States – USD 30 trillion. Now, the company is eyeing starting a business in India.

BlackRock is going to start the mutual fund business in India in collaboration with Mukesh Ambani’s company, Jio Financial Services Limited.

Notably, the financial firm’s status can be estimated from the fact that, by January this year, it had assets worth USD 11.6 trillion, which is double or even triple the GDP of many countries.

Who is Larry Fink

Larry Fink is the individual responsible for overseeing the entire asset management business at BlackRock.

He is the chairman and CEO of this global investment firm.

Fink and his firm have investments in several companies of many countries across the world, having a strong hold on the entire global stock market. 

Although Larry Fink manages a tremendous sum of money, he isn’t considered a billionaire in the traditional sense.

This is because his wealth is primarily derived from managing public investments entrusted to BlackRock through mutual funds and other market-based vehicles, rather than personal ownership.

The article explains the nature of his asset management business and his role within it.

The Asset Management Business

Asset Management Companies, also known as AMCs, are financial firms that are active in many financial businesses, such as mutual funds and investments.

However, in the mutual fund business clients of these firms invest money for better returns.

Since BlackRock is the world’s largest asset management firm, its name holds a lot of significance for stock markets around the world.

Larry Fink Started Out With 7 Friends

Lawrence Fink and seven partners founded BlackRock in 1988.

Over the subsequent 37 years, under Fink’s leadership, it grew into the world’s largest asset management firm, holding investments in numerous major global corporations, including prominent companies in both the United States and India.

For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on India.com.