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You must have heard the names of the world's big rich people. You must have heard stories of his immense wealth. But today we are going to tell you the story of a businessman whose treasure is bigger than the government treasures of many countries of the world. Understand it mathematically that the amount of money that Sethji's company is currently managing across the world is almost three times more than the total economy of our country India.
This means that India, the world's fifth largest economy, is currently worth around $3.7 trillion. Whereas this rich man's private company manages assets worth more than $ trillion dollars. If seen from this perspective, this gentleman is not just a rich man but a huge country in himself. You will be even more surprised to know that even the richest people on earth like Elon Musk, Bernard Arnold, Jeff Bezos, Bill Gates and Mark Zuckerberg will not be able to compete with this Sagittarius in terms of wealth.
But the interesting thing is that the person who holds the key to such a huge treasure is neither counted among the richest people in the world nor is he known to most people. Who is this person after all? What is its story and what is its business? Through which this guy is ruling the whole world. Actually this gentleman is Larry Fink.
Larry Fink is an American businessman and the name of his company is BlackRock Inc. It is an American multinational investment management company that is considered the most powerful and number one company in asset management worldwide. BlackRock currently manages assets worth over $ trillion. Interestingly, the treasury of this American company is almost half of the total GDP of America and is many times more than the GDP of many countries of the world.
Through this company, Larry Fink not only manages the money of millions of people, apart from countries, governments and banks around the world, but also gives loans through shadow banking. According to experts, BlackRock Inc. has a stake in almost every big company in the world. Apart from this, this company alone handles approximately 10% of the total shares and bonds across the world.
That's why it's said that BlackRock Inc. and Larry Fink control a portion of the world's wealth. The emphasis was so much that Larry Fink could move the stock market with the power of his money whenever he wanted, wherever he wanted, and however he wanted. The influence of this company in today's economic world is so great that it rules even in a powerful country like China.
Interestingly, China never wanted BlackRock to enter China. But even after this, China could not stop Black Rock from coming to its country. Not only this, during the Great Recession of 2008, when big multinational companies started going bankrupt, the US government had sought financial help from this same BlackRock company.
The matter does not end here. Even during the Corona tragedy in the year 2020, it was BlackRock that supported the bond market and the American economy. Another special feature of this company is that instead of investing heavily in one sector or one company, BlackRock invests across the entire market under the strategy of diversification.
Due to which the risk of market fluctuations is greatly reduced and its dominance over the world market remains intact. You can also gauge the global expansion of BlackRock from the fact that it is also called the world's largest shadow bank. Shadow banking is a network of financial institutions and activities that are separate from traditional banking and provide lending services similar to banks.
But it is not subject to strict regulations like traditional banks. This is the magic of Fink's understanding in the financial world. Due to which, in a very short time, he transformed a small asset management firm into the world's largest investment management company. In fact, Fick, who had a keen interest in the stock market, laid the foundation of BlackRock in 1988 along with some of his colleagues.
In its early days, the company only provided risk management services to investment banks. But growing rapidly in the 1990s, the company also began managing investment products such as mutual funds and exchange-traded funds. These are such funds through which money of common people is collected and invested in the shares of various companies.
BlackRock used new technology and expertise to run these funds, which gave investors excellent returns and soon the company started ruling the world. BlackRocks owns a 6.5% stake in Apple, the world's largest company by market cap. 6.5% in JP Morgan Chase, 4.8% in Deutsche Bank, 6.5% in Facebook. Apart from this, BlackRock also has a stake of about 4.48% in Google's parent company Alphabet Inc.
The influence of BlackRock on the global stage has now increased so much that today, when big companies or governments take any important economic decision, the opinion of BlackRock Inc. is also considered important in policy making. For these reasons, Larry Fink's name is counted among the most influential financial leaders in the world today.
He has shown the financial world a completely fresh and new way of thinking. Fick writes a letter every year in which he shares his views on financial and business practices with his clients and the world. In this way, today a man is ruling the entire world invisibly due to his understanding. It is also interesting that Larry Fink, who had such a deep understanding of investment, had obtained his undergraduate degree from the University of California not in Economics or Commerce but in Political Science.
However, later he also studied MBA. He was born in 1952 in Los Angeles, California. But the answer to one question is still incomplete. And the question is that despite all this, why is Larry Fing's name not included among the world's richest people ? And the answer to this is that the huge wealth that Larry Fing has is not his own but belongs to different countries or institutions. Larry Fing is simply the manager and keeper of this wealth. There is no owner.
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