Organization
BlackRock
American asset manager founded in 1988.
- Dates
- 1988 –
- Place
- New York City
- Also known as
- BlackRock, Inc.
- Active 1988 –
- CEO Larry Fink 1988 –
- stakeholders PNC Financial Services Group (22.4%, as of 6 May 2020) 1995 – 15 May 2020
- stakeholders Merrill Lynch (49.3%, as of 29 Sep 2006) 29 Sep 2006 – 1 Jun 2011
- stakeholders Barclays (19.8%, as of 1 Dec 2009) 1 Dec 2009 – 29 May 2012
Index-fund managers hold these shares for the people invested in their funds, who get their gains and losses. The managers vote them, in part or in full.
Each line is from its own filing and date, so they do not add up. Some filings report a number of shares and no percent.
Index-fund managers hold these shares for the people invested in their funds, who get their gains and losses. The managers vote them, in part or in full.
What it disputes
-
Anticompetitive Effects of Common Ownership
The letter calls the study the “AST Paper”. Analysis Group is a consultant BlackRock hired.When the aforementioned erroneous assumptions are corrected, Analysis Group finds no statistically significant relationship between ‘common ownership’ and airline ticket prices.
9
Each side is quoted in its own words. Whether a finding holds is not decided here.
In the Matter of BlackRock, Inc.
- Settled with U.S. Securities and Exchange Commission: $340,000, removing whistleblower incentives in separation agreements; without admitting or denying the findings 1011
BlackRock was founded in 1988 by Larry Fink and seven partners. Through its index and active funds it holds shares in Tesla, Microsoft and Amazon for its clients; it does not own those shares for itself.
Connections 26
founded by
- Larry Fink 1988 co-founder Primary record 12
- Rob Kapito 1988 co-founder Primary record 113
- Susan Wagner co-founder Primary record 114
CEO
-
Larry Fink
1988 –
Primary record
12
BlackRock describes the firm as growing under his leadership since its founding in 1988.
chaired by
-
Larry Fink
Primary record
12
Current role as of October 2026; start date not recorded here.
settled with
- U.S. Securities and Exchange Commission 17 Jan 2017 $340,000, removing whistleblower incentives in separation agreements; without admitting or denying the findings Primary record 1011
holds shares for clients in
-
Tesla
4.96%, 196,348,742 shares, as of 30 Sep 2026
Held for clients
Primary record
78
BlackRock reported sole voting power over 180,605,472 of them. Tesla's 2025 proxy table gave 5.7%, from a 2024 filing.
-
Microsoft
7.3%, 540,020,228 shares, as of 30 Sep 2025
Held for clients
Primary record
5
Percentage from Microsoft's proxy table; the share count comes from BlackRock's Schedule 13G/A filed in February 2024.
-
Amazon
5.9%, 630,188,686 shares, as of 24 Feb 2026
Held for clients
Primary record
6
Percentage from Amazon's proxy table; the share count is as of December 31, 2023, per BlackRock's Schedule 13G.
shares held for clients by
-
The Vanguard Group
until 12 Jan 2026
8.31%, 12,890,008 shares, as of 28 Mar 2025
Held for clients
Primary record
1516
Percentage from BlackRock's 2025 proxy table; the share count comes from Vanguard's Schedule 13G/A filed in February 2024. Under a letter agreement, any BlackRock shares Vanguard owns above 10% are voted in proportion to the other shares. Vanguard's own filing of March 2026 reports 0 shares after an internal realignment on 12 January 2026; its subsidiary Vanguard Capital Management reported 6.87% in April 2026. The two figures are not added together.
-
State Street Corporation
6,414,683 shares, as of 30 Jun 2026
Held for clients
Primary record
34
Counts the shares reported for State Street Corporation and the units named in its 13F report. It reports sole voting authority over 680,356 of them, and no percent.
-
Vanguard Capital Management
6.87%, 10,700,618 shares, as of 31 Mar 2026
Held for clients
Primary record
2
Counts BlackRock shares held by Vanguard funds that VCM manages, plus some affiliates' client accounts. VCM reported sole voting power over 1,460,018 of them. Filed on 27 April 2026, after BlackRock's 2026 proxy statement.
stakeholders
-
PNC Financial Services Group
1995 – 15 May 2020
22.4%, as of 6 May 2020
Primary record
1718
Held through PNC Bancorp, Inc., a wholly owned PNC subsidiary. PNC sold the stake in a public offering and a buyback by BlackRock, both completed on 15 May 2020, keeping 500,000 shares to give to the PNC Foundation.
-
Merrill Lynch
29 Sep 2006 – 1 Jun 2011
49.3%, as of 29 Sep 2006
Primary record
1920
45% of the voting stock. PNC's share fell from about 69% to about 34%. Bank of America bought Merrill Lynch on 1 January 2009; BlackRock bought back Bank of America's last shares on 1 June 2011.
-
Barclays
1 Dec 2009 – 29 May 2012
19.8%, as of 1 Dec 2009
Primary record
2122
4.8% of the voting stock; 37,566,771 shares in all. Barclays sold all of its BlackRock shares on 29 May 2012.
-
PNC Financial Services Group
until 15 May 2020
70%, as of 31 Dec 1999
Primary record
23
After the initial public offering of 1 October 1999 (9 million shares at $14 each). PNC's 2020 exit is already recorded.
-
Kuwait Investment Authority
5.14%, 7,993,064 shares, as of 31 Mar 2026
Primary record
1
Held for and on behalf of the Government of the State of Kuwait. Percentage from BlackRock's 2026 proxy table; the share count comes from the KIA's Schedule 13G filed on 7 July 2020.
acquired
-
Merrill Lynch Investment Managers
29 Sep 2006
Primary record
19
BlackRock paid in shares. Its 10-K values the total consideration at $9,083,928 thousand (about $9.1 billion), net of cash acquired. The deal was agreed on 15 February 2006.
-
Barclays Global Investors
1 Dec 2009
$15.2B
Primary record
21
$8.53 billion in BlackRock shares at closing plus $6.65 billion in cash. BGI brought the iShares exchange-traded funds.
acquired by
-
PNC Financial Services Group
28 Feb 1995
$240M
Primary record
24
PNC was then named PNC Bank Corp. It agreed to the purchase on 16 June 1994. The price was $71 million in cash at closing and $169 million in debt payable to the firm's partners (BlackRock's 1999 prospectus).
involved in
-
Common ownership of US airlines
shareholder in competing airlines
Primary record
925
Shares held through funds for clients. Whether this common ownership raised fares is disputed.
formerly
-
Blackstone Financial Management
Jul 1992
renamed BlackRock Financial Management
Primary record
2627
BlackRock's own history also dates the name to 1992. Bloomberg (2013) says the name changed during the 1994 sale, but a fund filing of March 1994 already names the adviser BlackRock Financial Management L.P.
includes
- BlackRock Advisors Primary record 28
- BlackRock Fund Advisors Primary record 29
disputes a finding of
-
Anticompetitive Effects of Common Ownership
15 Jan 2019
According to BlackRock
Primary record
9
The letter calls the study the “AST Paper”. Analysis Group is a consultant BlackRock hired.
headquartered in
- New York City Primary record 30
Timeline 15 dates
- 1988 – BlackRock
- 1988 Larry Fink founded BlackRock
- 1988 Rob Kapito founded BlackRock
- 1988 – Larry Fink CEO of BlackRock
- Jul 1992 Blackstone Financial Management became BlackRock
- 1995 – 15 May 2020 PNC Financial Services Group owns a stake in BlackRock
- 28 Feb 1995 PNC Financial Services Group acquired BlackRock
- 29 Sep 2006 – 1 Jun 2011 Merrill Lynch owns a stake in BlackRock
- 29 Sep 2006 BlackRock acquired Merrill Lynch Investment Managers
- 1 Dec 2009 – 29 May 2012 Barclays owns a stake in BlackRock
- 1 Dec 2009 BlackRock acquired Barclays Global Investors
- 17 Jan 2017 BlackRock settled with U.S. Securities and Exchange Commission
- 15 Jan 2019 BlackRock disputes a finding of Anticompetitive Effects of Common Ownership According to BlackRock
- until 15 May 2020 PNC Financial Services Group owns a stake in BlackRock
- until 12 Jan 2026 The Vanguard Group holds shares for clients in BlackRock
Proof 30 sources
-
BlackRock, Inc. 2026 proxy statement (DEF 14A), BlackRock, 10 Apr 2026.
Primary record
Based on a review of the Schedule 13G filed on July 7, 2020 by the Kuwait Investment Authority (the “KIA”), acting for and on behalf of the Government of the State of Kuwait. The KIA reported it held 0 shares with sole voting power, 7,993,064 shares with shared voting power
Mr. Kapito co-founded BlackRock in 1988.
As one of the founding principals of BlackRock, Ms. Wagner has over 25 years of experience across various positions.
-
Schedule 13G of Vanguard Capital Management regarding BlackRock, Inc., Vanguard Capital Management, 27 Apr 2026.
Primary record
This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Capital Management LLC exercises dispositive power, in addition to securities held by clients
-
Form 13F-HR/A (Amendment No. 1, restatement) of State Street Corporation for the quarter ended June 30, 2026: information table, State Street Corporation, 22 Sep 2026.
Primary record
6414683
-
State Street Corporation annual report for 2025 (Form 10-K), State Street Corporation, 19 Feb 2026.
Primary record
State Street Bank operates as a specialized bank, referred to as a trust or custody bank, that services and manages assets on behalf of its institutional clients.
-
Microsoft Corporation 2025 proxy statement (Schedule 14A), Microsoft, 21 Oct 2025.
Primary record
All information about BlackRock, Inc. is based on a Schedule 13G/A filed with the SEC on February 13, 2024.
-
Amazon.com, Inc. 2026 proxy statement (Schedule 14A), Amazon, 9 Apr 2026.
Primary record
Based on information provided in a Schedule 13G filed February 12, 2024.
-
Schedule 13G/A (Amendment No. 4) of BlackRock, Inc. regarding Tesla, Inc., BlackRock, 27 Oct 2026.
Primary record
Amount beneficially owned: 196348742 (b) Percent of class: 4.96 %
-
Tesla, Inc. 2025 proxy statement (Schedule 14A), Tesla, 17 Sep 2025.
Primary record
The foregoing information is based solely on Schedule 13G of Blackrock, Inc. filed on January 29, 2024
-
Comment letter to the Federal Trade Commission on Hearing #8 (Common Ownership), Competition and Consumer Protection in the 21st Century, BlackRock, 15 Jan 2019.
Primary record
When the aforementioned erroneous assumptions are corrected, Analysis Group finds no statistically significant relationship between ‘common ownership’ and airline ticket prices.
This testing was performed by a third party consultant, Analysis Group, hired by BlackRock.
75-85% of shares during any given quarter of AST’s analysis are managed by traditional investment managers of diversified portfolios (such as BlackRock, Capital Group, Fidelity, State Street Global Investors, T.Rowe Price, and Vanguard)
-
BlackRock Charged With Removing Whistleblower Incentives in Separation Agreements (press release 2017-14), U.S. Securities and Exchange Commission, 17 Jan 2017.
Primary record
has agreed to pay a $340,000 penalty to settle charges that it improperly used separation agreements
-
In the Matter of BlackRock, Inc. (Exchange Act Release No. 79804), U.S. Securities and Exchange Commission, 17 Jan 2017.
Primary record
Through its conduct described above, BlackRock violated Rule 21F-17 under the Exchange Act.
without admitting or denying the findings herein
-
Larry Fink, Chairman and Chief Executive Officer, BlackRock.
Primary record
He and seven partners founded BlackRock in 1988, and under his leadership the firm has grown into a global leader in investment and technology solutions.
Laurence D. Fink is Chairman and Chief Executive Officer of BlackRock. He and seven partners founded BlackRock in 1988, and under his leadership the firm has grown into a global leader in investment and technology solutions.
Laurence D. Fink is Chairman and Chief Executive Officer of BlackRock.
-
Rob Kapito, President, BlackRock.
Primary record
Prior to founding BlackRock in 1988, Mr. Kapito was a Vice President in the Mortgage Products Group at The First Boston Corporation.
-
Apple Leadership: Sue Wagner, Apple.
Primary record
She is a co-founder of BlackRock, Inc., an asset management company.
-
BlackRock, Inc. 2025 proxy statement (DEF 14A), BlackRock, 4 Apr 2025.
Primary record
Based on the Schedule 13G/A of The Vanguard Group, Inc. (“Vanguard”) filed on February 13, 2024. Vanguard reported it held 0 shares with sole voting power, 180,193 shares with shared voting power, 12,258,524 shares with sole dispositive power
-
Schedule 13G/A (Amendment No. 7) of The Vanguard Group regarding BlackRock, Inc., The Vanguard Group, 26 Mar 2026.
Primary record
On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment.
-
The PNC Financial Services Group, Inc. Form 8-K, 15 May 2020 (sale of BlackRock shares), PNC Financial Services Group, 15 May 2020.
Primary record
As of May 6, 2020, PNC Bancorp and its affiliates owned approximately 34.8 million shares of Common Stock and Series B Preferred Stock of BlackRock, representing 22.4% ownership.
Upon completion of the Secondary Offering and the Stock Repurchase, PNC Bancorp will have divested its entire holding in BlackRock, excluding 500,000 shares of Common Stock that PNC Bancorp is retaining for a donation to the PNC Foundation
The Secondary Offering closed on May 15, 2020.
-
PNC Announces Intent to Sell Its Investment in BlackRock (press release, Exhibit 99.1 to Form 8-K), PNC Financial Services Group, 11 May 2020.
Primary record
PNC originally purchased BlackRock in 1995 and the two companies have had a mutually beneficial relationship for more than 25 years.
-
BlackRock, Inc. annual report for 2006 (Form 10-K), BlackRock, 13 Mar 2007.
Primary record
Immediately following the closing, Merrill Lynch owned 45% of the voting common stock and approximately 49.3% of the fully-diluted capital stock of the combined company
On September 29, 2006, the Company completed the MLIM Transaction and issued 52,395,082 shares of BlackRock common stock and 12,604,918 of series A non-voting participating preferred stock to Merrill Lynch in consideration for the MLIM Business.
-
BlackRock, Inc. quarterly report for the quarter ended 30 June 2011 (Form 10-Q), BlackRock, 8 Aug 2011.
Primary record
On June 1, 2011, BlackRock completed its repurchase of Bank of America Corporation’s (“Bank of America”) remaining ownership interest of 13,562,878 Series B Convertible Preferred Shares for $2.545 billion, or $187.65 per share.
-
BlackRock, Inc. annual report for 2009 (Form 10-K), BlackRock, 10 Mar 2010.
Primary record
The shares of capital stock issued to Barclays pursuant to the BGI Transaction represented approximately 4.8% of the outstanding shares of common stock and approximately an aggregate 19.8% economic interest in BlackRock immediately following the closing of the transaction.
BlackRock acquired from Barclays Bank PLC (“Barclays”) all of the outstanding equity interests of subsidiaries of Barclays conducting the business of Barclays Global Investors (“BGI”) in exchange for capital shares valued at closing of $8.53 billion and $6.65 billion in cash
-
BlackRock, Inc. current report (Form 8-K), 31 May 2012, BlackRock, 31 May 2012.
Primary record
Following the completion of the Secondary Offering and the Repurchase, Barclays and its affiliates do not own any shares of the Company’s capital stock.
-
BlackRock Inc. annual report for 1999 (Form 10-K), BlackRock, 28 Mar 2000.
Primary record
On October 1, 1999, BlackRock offered 9 million shares of class A common stock in an initial public offering. Following our IPO, PNC owns 70%, the public owns 14% and BlackRock employees own 16% of BlackRock.
-
PNC Bank Corp. annual report for 1994 (Form 10-K), PNC Financial Services Group, 31 Mar 1995.
Primary record
On February 28, 1995, the Corporation completed the acquisition of BlackRock Financial Management L.P. and related partnerships ("BlackRock") for approximately $240 million in cash and notes.
-
Anticompetitive Effects of Common Ownership (The Journal of Finance, vol. 73, no. 4, 2018), Wiley, for the American Finance Association, 25 May 2018.
Scholarship & press
Archived copy
Notwithstanding the fact that airlines constituted only a small part of the merging parties' portfolios, both Barclays and BlackRock were among the largest owners of some airlines but not others.
-
BlackRock, Inc., International Directory of Company Histories (Gale), via Encyclopedia.com.
Scholarship & press
Blackstone Financial Management LP was renamed BlackRock Financial Management LP in July 1992.
-
BlackRock: Our history (archived 16 May 2018), BlackRock.
Primary record
Archived copy
In 1992, the firm adopted the name BlackRock.
-
In the Matter of BlackRock Advisors, LLC and Bartholomew A. Battista (Advisers Act Release No. 4065), U.S. Securities and Exchange Commission, 20 Apr 2015.
Primary record
BlackRock is a subsidiary of BlackRock, Inc., an investment management firm with assets under management of approximately $4.3 trillion as of December 31, 2013.
-
In the Matter of BlackRock Fund Advisors (Investment Company Act Release No. 32613, corrected order), U.S. Securities and Exchange Commission, 25 Apr 2017.
Primary record
BlackRock FA is a subsidiary of BlackRock, Inc. (NYSE: BLK), with assets under management of approximately $4.6 trillion as of December 31, 2015.
-
BlackRock, Inc. annual report for 2025 (Form 10-K), BlackRock, 25 Feb 2026.
Primary record
BlackRock's principal office, which is leased, is located at 50 Hudson Yards, New York, New York.
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