BlackRock is one of the most well-known investment and asset management companies in the world, based in New York City. Founded in 1988, it has quickly expanded worldwide, with a strong presence in the U.S., Asia, Brazil, and the Middle East.
Along with State Street and Vanguard, it is believed to control most global corporations through various investments.
As of January 2024, the company has 149,200,000 shares outstanding. This is considerably less than its competitors, such as Bank of America, Invesco, or UBS.
At the time of writing, its stock was trading at $785.75 per share. The company has a market capitalization of about $$116.68 billion, with revenues clocking in at about $$17.56 billion, according to BlackRock’s latest financial reports.
But who are the stakeholders of BlackRock?
The shareholders are divided into Investor A, Investor B, Investor C, Institutional, and Class R shares. The type of ownership, sales charge, management fees, and other operating expenses can vary depending on the type of share purchased.
BlackRock shareholders are also classified into individual and institutional shareholders. According to the company’s annual report filed with the U.S. Securities and Exchange Commission (SEC), there were 215 common stockholders of Blackrock as of January 2023.
Who Owns BlackRock?
Institutional investors are the largest owners of Blackrock shares. Amongst BlackRock’s major shareholders are investment and asset management companies like Vanguard Group and State Street Global Advisors, which have some of the largest stakes.
BlackRock has a higher percentage of institutional shareholders than other similar investment companies. Currently, 48.57% of the company’s stock is held by institutional investors.
Out of these, the top 5 largest players are outlined below, with holdings as of 30 September 2023.
5. Bank of America
Bank of America is one of the biggest BlackRock shareholders, with a 3.39% stake in Blackrock, which amounts to 5,038,780 shares valued at approximately $3,959,221,380.
In contrast to other Wall Street banks, Bank of America has been avoiding job cuts until recently. However, as the layoff trend continues, Bank of America has started a round of job cuts, following its rivals Citigroup, Goldman Sachs, and Morgan Stanley, which collectively cut over 10,000 roles last year.
4. Temasek Holdings
Temasek Holdings, owned by the Government of Singapore, possesses a 3.43% stake in BlackRock. This equates to approximately 5,096,739 shares, valued at around $4,004,762,670.
Recently, Temasek Holdings led a $140 million funding round for Ola Electric.
Due to challenging conditions in recent months, Temasek Holdings has implemented staff salary reductions as a strategy to stabilize and strengthen its financial position.
3. State Street Global Advisors
State Street Global Advisors holds a 3.85% stake in BlackRock, equivalent to about 5,728,624 shares valued at approximately $4,501,266,310.
The company offers exchange-traded funds (ETFs) such as the SPDR S&P 500 Ucits ETF and the SPDR S&P 500 ESG Leaders Ucits ETF. Recently, State Street Global Advisors reduced the fees for these two funds, positioning them among the most cost-effective options for tracking the S&P 500 Index.
This decision is seen as a strategic and forward-thinking move, particularly in a market where investors are increasingly well-informed about the variety of funds and fee structures available.
2. BlackRock Fund Advisors
BlackRock Fund Advisors owns a 6.53% stake in BlackRock, totaling approximately 9,713,177 shares with an estimated value of $7,632,128,830. A portion of these shares is included in the iShares Core S&P 500 Index, a fund also under the management of BlackRock.
BlackRock acquired iShares in 2009 from Barclays, further expanding its portfolio and market presence.
1. Vanguard Group
The Vanguard Group holds an 8.65% stake in BlackRock, equivalent to around 12,868,201 shares valued at approximately $10,111,188,940. These shares are distributed across various mutual funds and ETFs managed by Vanguard, including the Vanguard 500 Index Fund, the Vanguard Total Stock Market ETF, and the Vanguard Value ETF.
Recently, Vanguard has come under scrutiny due to allegations of non-compliance with asset concentration regulations in the UK.
Amongst the individual shareholders of BlackRock, the founders and long-time employees of the company hold the most shares. This was because BlackRock famously implemented a strategy of offering equity options to new employees it hired.
Although this caused friction amongst the early management, it is a practice that still holds true and attracts some of the best talent in the world.
Below, we highlight the key individuals who not only hold substantial shares in the company but have also played pivotal roles in its growth and operations.
5. Murry S. Gerber
Murry S. Gerber, serving as BlackRock’s lead independent director, has held prominent positions, including Chairman, Executive Chairman, President, and CEO of EQT Corporation.
His extensive leadership experience includes a tenure as CEO of Coral Energy. Additionally, Gerber contributes to the cultural sector as a member of the board of trustees of the Pittsburgh Cultural Trust.
As of 17 January 2023, he owned 42,348 shares in BlackRock.
4. Richard Kushel
Richard Kushel holds the position of Senior Managing Director at BlackRock, where he also oversees the Portfolio Management Group.
His expansive role at BlackRock includes past leadership as the Head of Multi-Asset Strategies and Global Fixed Income. Additionally, Kushel has contributed significantly in his former capacities as Chief Product Officer and Deputy Chief Operating Officer.
As of 15 November 2023, he owned 69,907 shares in the company.
3. Robert S. Kapito
Robert Kapito is the President and director of BlackRock. He is distinguished as one of the eight founders of the company. In his extensive leadership roles, he chairs the Global Operating Committee and is a member of the Global Executive Committee. Additionally, Kapito holds a director position at iShares.
His key responsibilities include overseeing Risk and Quality Analysis, Investment Strategies, Technology and Operations, as well as Client Business.
Robert Kapito owned 210,104 shares as of 31 January 2023.
2. Susan L. Wagner
Susan Wagner, celebrated as one of the original founders of BlackRock, has served in various significant roles within the company, including Head of Corporate Strategy, Chief Operating Officer, and Vice Chairwoman.
Wagner played a crucial role in expanding BlackRock’s reach into international markets such as Brazil, Asia, and the Middle East. Even after retiring, she continues to serve on BlackRock’s board.
In addition to her contributions at BlackRock, Wagner is a member of the board of trustees at Hackley School and holds positions on the boards of both Swiss Re and Apple.
As of 5 September 2023, she held 428,362 shares in BlackRock.
1. Larry Fink
Larry Fink, one of the original eight Blackrock owners and founders, currently holds the positions of CEO and Chairman and is the largest individual shareholder of the company. As of 6 November 2023, he held 435,260 shares of the asset management firm.
In April 2023, following the company’s Q1 2023 results which reported a nearly 20% decline in profit, Fink sold off 7% of his stake, netting approximately $25 million.
BlackRock is a very well-regarded and prestigious asset management company that has made a name for itself in a relatively short time. Founded by eight people, it now has about 215 shareholders and about $10 trillion of AUMs.
Among those who own BlackRock shares are very large institutional shareholders, such as Vanguard Group and State Street Global Advisors, as well as the original founders and other employees.
Who Owns BlackRock?
Is BlackRock a Public Company?
How Many BLK Shares Are There?
How Many Shareholders Does BlackRock Have?
Who Owns the Most Shares of BlackRock?
What is Blackrock?
How many companies does BlackRock own?
- Investment Management & Financial Services (BlackRock)
- BlackRock Reports Full Year 2023 (s24.q4cdn)
- Annual report pursuant to section 13 (cloudfront)
- BlackRock Inc (BLK) Stock Holders – Institutional & Insider Ownership (GuruFocus)