Larry Fink’s Political Views: Is the BlackRock CEO a Democrat?
BlackRock, which is led by Larry Fink, is the world's largest asset manager. What are Fink's political views? Is he a Republican or a Democrat?
BlackRock is led by Larry Fink, who’s the company’s chairman and CEO. It's the world’s biggest asset manager. BlackRock is the largest stockholder in several U.S. companies due to its massive ETF portfolio. Fink writes an annual letter to the CEOs of investee companies. He emphasized green energy in this year’s letter. What are his political views? Is Fink a Republican or a Democrat?
To get a sense of BlackRock’s size, consider the fact that its assets are over 10 percent of the global GDP. It isn't surprising that Fink’s views and his annual letter receive so much attention.
Larry Fink emphasized green energy in his annual letter in 2022.
In his 2022 annual letter, Fink said, “Stakeholder capitalism is not about politics. It is not a social or ideological agenda. It is not 'woke.'” Citing increased employee turnover over the last year, Fink called on CEOs to treat their employees well.
He added, “Our research shows that companies who forged strong bonds with their employees have seen lower levels of turnover and higher returns through the pandemic.”
Larry Fink has been supportive of the Democratic party.
Fink has been supportive of the Democratic party and backed Hillary Clinton in the 2016 U.S. presidential election. He was expected to head the Treasury Department if Clinton won. However, she lost out to Republican candidate Donald Trump.
Fink was critical of Trump.
Fink was critical of Trump. In Feb. 2017, just weeks after Trump’s inauguration, he said, “Most business people are not investing today. They're waiting to see what may happen. I believe we're in the midst of a slowdown as we speak because of all the uncertainty.” Fink was commenting on Brexit and Trump’s election.
Fink supported globalization, while Trump pursued an exclusionary foreign policy under his “America First.” Not only China, but Trump’s trade policies also rattled traditional allies including NATO members.
Biden has been pursuing a different foreign policy path and has been trying to forge a global coalition against China. He held a Democracy Summit in 2021 where countries like China and Russia weren't invited.
Trump praised Fink and BlackRock.
Trump praised Fink and said that he made good returns from BlackRock’s funds. However, Fink took a veiled attack at Trump after he was defeated in the 2020 election. “The marketplace is encouraged by having a leader now that is more inclusive, a leader that could probably bring a little more global harmony,” said Fink in November 2020 after Biden defeated Trump.
U.S. stocks jumped after Biden’s election and the rally continued in 2021. The S&P 500 delivered almost 27 percent in Biden’s first year as president. The world’s most popular index has gained in double digits for three years now, and two of these came under Trump’s presidency.
Overall, from globalization, green energy, and employee policies, Fink's views are progressive and left of center.
Fink’s views on the economy are also somewhat left-leaning and he has been supportive of the expanding fiscal deficit. He believes that the soaring fiscal deficit won't be a major issue if growth stays strong.
Even the Democratic Party is split on the rising fiscal deficit. Senator Joe Manchin has opposed Biden’s BBB (Build Back Better) plan due to its massive price tag. The progressives in the party see the BBB as essential to reviving the U.S. economy.