John Miller
Description
Explaining finance is a tedious exercise that first requires understanding. Writer, by his very personal approach, by inventing a literary journalism,
...
allows us to understand the internal mechanics of the BlackRock monster by going back to its genesis and painting the portrait of its boss: the mysterious and very powerful larry fink.
If i am asked today who of Donald Trump, Xijingping, Vladimir Poutine, Mark Zuckerberg or Larry Fink, is the most powerful man in the world? Without any hesitation i point to Larry. Larry has more influence on our lives than our parents. Do you know that Blackrock owns 6.3% of total, 6.5% of sanofi, 6.4% of publicis, 5.9% of danone... Roughly 5% of the cac40? That BlackRock advises the ecb, airbus, exxon, jp morgan, apple, greece, the german state or the european commission? Do you know that its representatives vote at the general meetings of 17,000 companies around the world? That it brews 31 trillion funds per year, that it saved the american economy after the covid crisis? That it has an artificial intelligence called Aladdin, born of larry fink's sickly paranoia about risk management? But to survive, BlackRock needs money and new spaces. We have thus found Larry several times over the past two years at emmanuel macron's to push - among other things - to the vote on the reform of funded pensions.
Larry Fink has access to the matrix of capitalism. It can read all the balance sheets of virtually any company in the world. He knows what is at stake between competitors. He can thus favor one or the other in the greatest secrecy. He is the living god of capitalism. Just that?
No, even worse. Fasten your seatbelts...
Read more