Billionaire Sam Zell: BlackRock’s Larry Fink is ‘extraordinarily hypocritical’ to push social responsibility
The New York Times reported Fink will tell business leaders in a letter on Tuesday that their companies need to do more than just make profits. Companies need to contribute to society as well if they want to receive support, Fink argues in a draft letter obtained by the Times.
Fink’s BlackRock manages more than $6 trillion in investments through 401(k) plans, exchange-traded funds and mutual funds.
Fink and seven partners founded BlackRock in the late 1980s, and the firm has grown to the largest asset manager in the world.
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