Largest BlackRock Shareholders: Who Owns the Most BLK Stock in 2025?

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 US, Asia, Brazil, and the Middle East.

Along with State Street and Vanguard, it is believed to control most global corporations through various investments.

In the third quarter of 2024, the company’s assets under management (AUM) hit a new record $11.47 trillion, up $2.4 trillion or 26% year-over-year.

So, what does BlackRock’s ownership structure look like? In this article, we examine BlackRock’s major stakeholders and the number of BLK shares they own.

Let’s explore who owns the most BlackRock stock in 2025.

Table of Contents Table of Contents

1. Key Takeaways
2. BlackRock Shares Analysis: Unique Investment Approach & Shareholder Dynamics
3. Who Owns BlackRock?
4. The Bottom Line
5. FAQs
6. References

Show Full Guide

Table of Contents

1. Key Takeaways
2. BlackRock Shares Analysis: Unique Investment Approach & Shareholder Dynamics
3. Who Owns BlackRock?
Show Full Guide
4. The Bottom Line
5. FAQs
6. References

BlackRock Shares Analysis: Unique Investment Approach & Shareholder Dynamics

As of October 31, 2024, the company had 154,878,930 shares outstanding, considerably less than its competitors, such as Bank of America, Invesco, or UBS.

The BLK stock closed at $963.17 per share on January 14, 2025. The company had a market capitalization of about $149.17 billion.

BlackRock’s revenues clocked in at about $17.859 billion for the full year 2023 and $14.73 billion in the nine months ending September 30, according to its latest financial reports.

Note that past performance is not indicative of future results.

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.

Who Owns BlackRock?

Top 5 Largest Institutional BlackRock Shareholders

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.

Out of these, the top 5 largest BlackRock owners are outlined below, with holdings as of Q3 2024.

1. Vanguard Group – 13,308,201 – 8.59%

The Vanguard Group is the top Blackrock institutional investor, holding an 8.59% stake in BlackRock, equivalent to around 13,308,201 shares valued at approximately $12.63 billion.

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.

2. BlackRock – 9,629,693 – 6.21%

BlackRock owns a 6.21% stake in BlackRock, totaling approximately 9,629,692 BLK shares with an estimated value of $9.2 billion. This amount makes BlackRock the second-largest institutional shareholder of its own company.

But what does BlackRock own besides BLK stock?

Blackrock’s investment in its BLK shares represents only a tiny fraction (0.2%) of the company’s holdings. As of Q3 2024, the top five Blackrock holdings included Apple (5.38%), Microsoft (5.1%), Nvidia (4.75%), Amazon (2.63%), and Meta Platforms (1.96%).

3. State Street Global Advisors – 5,983,583 – 3.86%

State Street Global Advisors holds a 3.86% stake in BlackRock, equivalent to about 5,983,583 shares valued at approximately $5.68 billion. This stake makes State Street the third-largest BlackRock owner among institutional shareholders.

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.

4. Bank of America – 5,258,248 – 3.39%

Bank of America is one of the biggest BlackRock shareholders, with a 3.39% stake in Blackrock, which amounts to 5,258,248 shares valued at approximately $5.02 billion.

In 2024, the largest US banks, including Bank of America, were forced to cut jobs and closed unprofitable businesses amid economic slowdown and uncertainties about the Federal Reserve’s interest rate cut plan.

Daily Mail reported in October, citing data from the federal banking regulator, the Office of the Comptroller of the Currency (OCC), that Bank of America had the most branch office closures in the first nine months of 2024, shutting 132 offices.

5. Temasek Holdings – 5,092,825 – 3.28%

Temasek Holdings, owned by the Government of Singapore, possesses a 3.28% stake in BlackRock. This equates to approximately 5,092,825 shares, valued at around $4.86 billion by the end of the third quarter of 2024, according to the latest Securities and Exchange Commission (SEC) data.

Temasek’s shares in BlackRock dropped by 40,535 shares or 0.79% from 5,133,360 shares in the second quarter of 2024.

In 2023, Temasek Holdings led a $140 million funding round for Ola Electric.

According to the latest news, Temasek Holdings has recently backed a new $250 million tech fund, Alpha Intelligence Capital (AIC), which invests in artificial intelligence companies, including OpenAI.

Top 5 Largest Individual BlackRock Shareholders

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.

1.  Adebayo Ogunlesi – 1,823,027 – 1.17%

The founder and CEO of infrastructure investor Global Infrastructure Partners (GIP), Adebayo Ogunlesi, has succeeded Wagner as the largest individual shareholder of BlackRock. As of November 22, 2024, Ogunlesi owned 1,823,027 BLK shares, representing a 1.17% stake in BlackRock.

Ogunlesi’s ownership of BlackRock’s shares followed BLK’s acquisition of GIP, which was completed in October 2024. He is now BlackRock’s Senior Managing Director and a member of the company’s Global Executive Committee following the acquisition.

Prior to establishing GIP in 2006, which had $170 billion AUM when it was acquired by BlackRock, Ogunlesi worked for 23 years at Credit Suisse. He had also served as a law clerk at the US Supreme Court before building his career in Credit Suisse.

2. Susan L. Wagner – 427,597 – 0.28%

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 August 16, 2024, she held 427,597 shares in BlackRock, which makes Wagner the second largest individual BlackRock owner at the time of writing.

3. Larry Fink –  295,090 – 0.18%

Larry Fink, one of the original eight Blackrock owners and founders, currently holds the positions of CEO and Chairman and is the third largest individual shareholder of the company.

As of December 6, 2024, he held 295,090 BLK shares, representing 0.18% of the company’s outstanding stock. This is down from 343,790 BLK shares in August 2024.

In his 2024 annual letter to shareholders, Larry Fink shared a very personal story of his parents’ successful investments and how they “could have lived beyond 100 and comfortably afforded it.”

Their experience reminded Fink why he founded BlackRock in the first place. He said:

“Obviously, we were ambitious entrepreneurs, and we wanted to build a big, successful company. But we also wanted to help people retire like my parents did. That’s why we started an asset manager — a company that helps people invest in the capital markets — because we believed participating in those markets was going to be crucial for people who wanted to retire comfortably and financially secure.”

In an interview with CNBC’s Jim Cramer, BlackRock CEO Larry Fink said he’s hopeful about the younger generation despite a looming retirement crisis.

4. Robert S. Kapito – 215,127 – 0.14%

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 215,127 shares as of September 3, 2024. This stake makes him the third-largest individual BlackRock owner.

5. Richard Kushel – 143,410 – 0.092%

Richard Kushel holds the position of Senior Managing Director at BlackRock, where he also oversees the Portfolio Management Group. Kushel is among the top five BlackRock’s individual investors, owning directly and indirectly a total of 143,410 BLK shares, or equivalent to a 0.092% stake in the company as of December 5, 2024.

His expansive role at BlackRock includes past leadership as the Head of Multi-Asset Strategies and Global Fixed Income. Additionally, Kushel has significantly contributed to the company’s growth in his former capacities as Chief Product Officer and head of the Strategic Product Management Group, BlackRock Investment Stewardship, and the BlackRock Investment Institute.

The Bottom Line

BlackRock is a highly 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 2,098 institutional shareholders and about $11.47 trillion in AUM.

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.

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