Billionaire Larry Fink Made Shareholders Rich Too Along the Way
BlackRock’s success made Larry Fink a billionaire, but the firm’s shareholders did pretty well too.
(Bloomberg) -- BlackRock Inc.’s success made Larry Fink a billionaire, but the firm’s shareholders did pretty well too.
BlackRock stock has gained more than 3,600 percent since the company went public in September 1999, making it by far the best performer in the 69-member S&P 500 Financials Index. Runner-up SVB Financial Group is up almost 2,000 percent in the same period.
Fink’s personal fortune has eclipsed $1 billion, according to the Bloomberg Billionaires Index, thanks to the chief executive’s stock ownership plus dividends, share sales and compensation.
To contact the reporter on this story: Charles Stein in Boston at cstein4@bloomberg.net.
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Josh Friedman, Dan Reichl
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