Larry Fink’s net worth is in the billions. Not a big surprise, given that he’s the CEO and Chairman of one of the world’s largest investment companies, BlackRock, Inc.
But how did he go from being a boy in a traditional Jewish family to owning an investment company with over $7.95 trillion in assets under management (AUM)?
In this article, we reveal Larry Fink’s net worth and how he earned his fortune.
Plus, find out how we can coach you to build your net worth FREE.
What is Larry Fink’s Net Worth?
Larry Fink’s net worth is an estimated $1 billion.
At the time of writing, the value of his equity in BlackRock is over $325 million.
Larry built his net worth from scratch. He wasn’t born into a wealthy family, but his thirst for knowledge and persistence helped him build a massive business empire. Let’s discuss Larry’s early life and how he became a billionaire.
Who is Larry Fink?
Laurence Douglas Fink was born on November 2, 1952 in Van Nuys, California. He was born in a traditional Jewish family with two siblings to Fredrick (father) and Lila Fink (mother). Fredrick was a shoe store owner, and Lila was an English professor.
After graduating high school, Larry studied political science at the University of California Los Angeles (UCLA). After completing his bachelor’s, Larry enrolled in UCLA Anderson Graduation School of Management’s MBA in Real Estate program. He completed his MBA in 1976.
How Did Larry Fink Make His Money?
Larry started his career right after completing his MBA at a New York investment bank First Boston. He started as a mortgage-backed securities trader and managed First Boston’s bond department.
His growth at First Boston was phenomenal. He soon became the firm’s managing director and helped increase the net income by over a billion dollars. But in 1986, he mispredicted the interest rate movement, costing the firm $100 million. This was when he realized how risk management is a critical element of investing.
Two years later, he co-founded BlackRock as part of Blackstone. He became Blackstone’s CEO and director soon after. However, BlackRock split from the Blackstone Group in 1994. Larry continued to act as Blackstone’s CEO and director, though.
After the split, BlackRock grew fast. BlackRock merged with Merril Lynch Investment Managers in 2006, doubling the company’s AUM.
BlackRock bought Barclays Global Investors in 2009, making it the world’s largest money management company.
BlackRock had $5 trillion worth of assets under management by 2016. As BlackRock grew, Larry’s net worth increased with it.
Larry became a billionaire for the first time in April 2018.
In 2022, Larry took home a $36 million paycheck as BlackRock’s CEO. However, BlackRock reduced Larry’s pay by 30% in 2023 to $25.2 million.
Currently, Fink is heavily supporting sustainable businesses. He believes the next 1,000 unicorns will be green energy companies — BlackRock will likely invest in many of these companies to continue its growth trajectory, simultaneously adding to Fink’s net worth.
What Does Larry Fink Invest in?
Larry Fink’s personal investments aren’t public information. However, BlackRock invests in various asset classes, including equity, debt, and alternative investments like real estate and private equity.
Larry owns multiple homes, though, which do add to his real estate portfolio. Fink has houses in Manhattan, Colorado, North Salem, and Vail.
How much is Larry Fink’s net worth?
Larry Fink’s net worth is an estimated $1 billion. A large portion, roughly $325 million, comes from his equity stake in BlackRock.
How long has Larry Fink been the CEO of BlackRock?
Larry Fink has been the CEO of BlackRock since 1988 when he co-founded it with six partners (Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, and Keith Anderson). So he has been the CEO of BlackRock for roughly 35 years as of 2023.
Where does Larry Fink currently reside?
Larry and his wife Lori own multiple homes in various locations, including North Salem, Manhattan, New York, Colorado, and Vail.
What is Larry Fink’s salary?
Larry Fink’s salary as BlackRock’s CEO was $36 million in 2022. In 2023, BlackRock reduced Fink’s salary by 30% to $25.2 million.
Larry Fink was born into a middle-class family. But that didn’t stop him from becoming a billionaire and the CEO of the world’s largest money management firm.
He focused on his education and then excelled at his work right from the beginning of his career at First Boston. His hard work and persistence opened many doors for him, helping him build his massive net worth.
We can’t help you become a billionaire just yet. But if Larry’s journey inspires you to build a business that makes the world a better place while building wealth, we can help.
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