About Laurence Fink
Laurence Fink, chairman and CEO of BlackRock, has been active in public discussions on infrastructure, capital markets, and workforce development. At the Milken Institute Global Conference in May 2026, Fink stated that the United States is "short power," "short compute," and "short chips," and suggested that a new asset class of buying futures of compute may emerge. He also said there is "not an AI bubble" but rather supply shortages, and described having money in a bank account as "one of the worst financial decisions of a lifetime," advocating for more people to invest in capital markets. In April 2026, Fink said on CNBC that BlackRock raised $744 billion over the prior 12 months and described the firm as being "at the beginning of growing the global capital markets."
In May 2026, Fink joined Texas Governor Greg Abbott in Waco to announce a $30 million investment from BlackRock's "Future Builders" initiative to train electricians and skilled trade workers. Fink said BlackRock manages $155 billion for Texans and called for "making capitalism work for more people," expressing concern that younger generations are questioning capitalism. During BlackRock's Q1 2026 earnings call, Fink said the firm is "partnering with governments and clients to help more people grow with their economies" and noted that private credit risk management infrastructure "has not kept pace," presenting an opportunity for BlackRock's Aladdin platform.
Source: AI-verified profile updated from Laurence Fink's recent appearances.
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✨ AI-enhanced transcript with speaker attribution
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Interviewer0:00
Joining us now in a first on CNBC interview is BlackRock's Chairman and CEO, Larry Fink. Thank you for joining us this morning.
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Laurence Fink0:11
Well, happy new year, David and Jim.
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Interviewer0:14
Thank you. And to you.
You know, speaking of the new year, I was looking at your sort of memo to colleagues where you talk about the current operating environment being unlike anything we've seen in decades. You talk about 2022 being a year of huge transition. How do you see this year shaping up, Larry? More of the same or, you know, are your expectations perhaps a bit different than what we've seen last year?
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Laurence Fink0:39
Well, from the perspective of long-term investors, I see 2023 to be enormous opportunistic. Actually, maybe the hardest years for investing for the long-term were the last few years because of negative interest rates. Investors worldwide had to take on more and more risk to achieve their liabilities. Actually, now, having, you know, two-year treasuries going to be close at 4.25%, credits at 5%, high-yield at 8%, we're going to see a whole restructuring and a rebalancing of how portfolios were constructed just a few years ago, and you're going to see now, once again, more bond investing within the confines of pension fund investing. In 20 years ago, most pension funds had 60%, 70% in bonds because they were able to achieve their role and their goals that they were trying to achieve. By 2018, they could not own bonds. They had to put on more and more illiquidity. So in reality, we're going to be seeing more and more opportunities of rebalancing back into bonds, and as you talk a lot about growth equity, when interest rates are near zero, you can -- you have the ability to buy high-growth stocks because you're not losing any money. If short rates go up to 5%, you're paying a big premium for that type of perceived growth, and that's a recalibration that we saw in 2022, and now we're living in an era where you're going to be able to invest differently. In addition, we are seeing more and more investors looking at infrastructure, where you're going to have a combination of some illiquidity, but you're going to have a high coupon. This will be a period of more dividend stocks at play. I look at this as more opportunistic, and probably the most important thing in terms of earnings has been, BlackRock is winning more share wallet than any firm in the world in good markets, when markets are going down, or in bad markets -- or good markets when markets are going up and bad markets when markets are going down, and this past year, we had $400 million of net inflows and long-term assets of which $230 billion came from the United States, and so we have now raised, you know, raised about a $1.7 trillion over the last few years from investors awarding us in good times and bad times because of the guidance we're giving and also our performance and our fiduciary standards.
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Interviewer3:22
Understood. You know, last year, though, was distinguished by the fact that whether you owned bonds or stocks, you had a bad year. You seem to be saying -- I don't want to read into it too much, but tell me. Are you expecting bonds to sort of become a better performer during the course of this year, which would seem in some ways to say, well, maybe there won't be as much buying behind equities for the year?
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Laurence Fink3:44
Well, I mean, we still see one or two more tightenings. We see, obviously, a very inverted yield curve, so the market is saying, I'll buy coupon here, I'll buy it. But what I'm saying is, we are going to see more and more of long-term pension funds reallocating back to bonds, more into bonds as they receive new pension contributions. We're going to see more of that. That doesn't take away from the equity market, but I do believe you're going to see, as we witnessed in '22, we saw a whole recalibration of price earnings ratios, especially in growth.
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Interviewer4:24
To your point, the bond market is actually competitive with the equity market. As you said, in '18, it was like, I can't get a return anywhere. This is a very different world now in 2023.
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Laurence Fink4:35
It is a totally different world, and it's actually an easier world to take -- you're going to take less risk to get to your target now more than ever before. So, I would frame it, you know, obviously, we had the nightmare in '22 with both bond and equity markets down, but if you start today and look at the opportunity today, you have more opportunity.
