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‹ BlackRock

Who is behind BlackRock?

Also known as BlackRock, Inc.

Shows documented founders, leaders, board members, funders and owners.

Not who made decisions, or why.

14 links · 1988 –

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A connection is not evidence of wrongdoing.

Over time
  1. Owners Blackstone (50%, as of 1988) 1988–1994
  2. Led by Larry Fink 1988 –
  3. Owners PNC Financial Services Group (22.4%, as of 6 May 2020) 1995 – 15 May 2020
  4. Owners Merrill Lynch (49.3%, as of 29 Sep 2006) 29 Sep 2006 – 1 Jun 2011
  5. Owners Barclays (19.8%, as of 1 Dec 2009) 1 Dec 2009 – 29 May 2012

On the record

Sourced links that no one presents as their own account, as recorded so far. Others may exist.

Founded by

Led by

  • Larry Fink CEO of 1988 – Primary record 1

    BlackRock describes the firm as growing under his leadership since its founding in 1988.

  • Larry Fink chair of Primary record 1

    Current role as of October 2026; start date not recorded here.

Money in

Owners

  • Blackstone owns a stake in 1988–1994 50%, as of 1988 as Blackstone Financial Management (until Jul 1992) Primary record 78

    Blackstone took the stake for a $5 million credit line, per King of Capital as reported by Bloomberg. Its share fell to about 40% by 1989 and about 35% by 1992; Blackstone says it sold its interest in 1994.

  • PNC Financial Services Group owns a stake in 1995 – 15 May 2020 22.4%, as of 6 May 2020 Primary record 910

    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.

  • PNC Financial Services Group acquired 28 Feb 1995 $240M Primary record 11

    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).

  • Merrill Lynch owns a stake in 29 Sep 2006 – 1 Jun 2011 49.3%, as of 29 Sep 2006 Primary record 1213

    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 owns a stake in 1 Dec 2009 – 29 May 2012 19.8%, as of 1 Dec 2009 Primary record 1415

    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 owns a stake in until 15 May 2020 70%, as of 31 Dec 1999 Primary record 16

    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 owns a stake in 5.14%, 7,993,064 shares, as of 31 Mar 2026 Primary record 3

    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.

Going further

Proof 16 sources
  1. 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.
  2. BlackRock, Inc., International Directory of Company Histories (Gale), via Encyclopedia.com. Scholarship & press
    BlackRock's origins can be traced to 1988, when Blackstone Financial Management LP was formed by Laurence D. (Larry) Fink and a group of seven colleagues.
  3. BlackRock, Inc. 2026 proxy statement (DEF 14A), BlackRock, 10 Apr 2026. Primary record
    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.
    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
  4. 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.
  5. Apple Leadership: Sue Wagner, Apple. Primary record
    She is a co-founder of BlackRock, Inc., an asset management company.
  6. Blackstone or BlackRock? Schwarzman and Fink did it on purpose, CNBC, 22 Jun 2017. Scholarship & press
    "They used to be called Blackstone Financial," Schwarzman said. "We started in business together. We put up the initial capital."
  7. Schwarzman Says Selling BlackRock Was ‘Heroic’ Mistake, Bloomberg News, 30 Sep 2013. Scholarship & press Archived copy
    Blackstone gave Fink and his team, which included now-Evercore Partners Inc. CEO Ralph Schlosstein, a $5 million credit line in exchange for a 50 percent stake in the bond business.
  8. The Blackstone Group L.P. prospectus for its initial public offering (Form 424B4), Blackstone, 25 Jun 2007. Primary record
    We sold our interest in BlackRock Inc. in 1994.
  9. 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.
  10. 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.
  11. 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.
  12. 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
  13. 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.
  14. 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.
  15. 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.
  16. 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.
How this answer is built

Lines on the record come first: sourced links that no one presents as their own account, each with its strongest source. Then every account recorded here gets its own column, A to Z, none ranked above another. A column quotes only that account's own words and shows the strength of its own sources. Disputed lines are listed apart, with the reason, and lines still being verified come last. Neither is counted. Withdrawn lines are never shown.

What was recorded about an earlier form of BlackRock, the same body under an older name, answers too, and each such line says so.

When a list is longer than the page shows, the links the public methodology ranks strongest stay (methodology 0.3), and the rest open in the explorer.

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