Fink’s ‘right’ idea
BlackRock boss makes nice with GOP pols
BLACKROCK’S billionaire CEO Larry Fink — who has weathered a barrage of accusations of “woke capitalism” run amok at his $10 trillion firm — is making a fresh push to repair ties with conservatives in Washington, sources told On The Money.
The moneymanagement kingpin
money has been ordering up BlackRock ads on Fox News, is sending executives to DC to meet with GOP lawmakers and plans to donate more money to Republicans in the next election cycle, according to sources close to the firm.
The shift comes as Fink has roused the ire of multiple state attorneys general and, more recently, Florida Gov. Ron DeSantis over socalled ESG investments that promote environmental, social and governance reforms.
GOP lawmakers have threatened to investigate whether the group’s ties to various climate groups and ESG objectives conflict with its fiduciary responsibilities. In response, BlackRock is scrambling to meet with representatives from the Senate Banking, House Judiciary and House Financial Services committees, sources said.
“BlackRock knows they have a DC Republican problem,” one GOP Hill source told The Post. “They should be worried — investigations lead to potential legislation and regulation and bad news cycles.”
A BlackRock rep emphasized the company is focused on “educating” people and pointed to a recently created web page, “BlackRock setting the record straight.”
“As a fiduciary, we have an obligation to act in the best interest of our clients and to be solely focused on their investment objectives,” according to the web page. “Our clients’ interests come first. Always.”
While ex-BlackRock exec Brian Deese stepped down earlier this month as the White House’s director of the National Economic Council, Fink still has a number of former employees in the Biden administration.