This company owns the world (and it's our fault) - BlackRock

[_NOBODY_]

This company owns the world (and it's our fault) - BlackRock​

 

[Jungibaaz]

One comment on her explanation, which I think is misleading... Yes, BlackRock is the largest asset manager in the world, with USD 9.4tn AUM. But please note that these are "assets under management", BlackRock does NOT "own" these assets, they manage the money of others. Wealth exists in the financial system, and BlackRock, UBS, Vanguard, SSGA, Fidelity, BNY, Amundi etc., these firms manage and place that cash. They do not own it. Their purpose is to keep the wealth of others safe, growing at a x% rate per year, and to manage liquidity and risk inside their portfolios.

For example, my employer pays for my pension, they place my cash inside a fund at one of the above named asset managers. The asset manager does not own the funds, I own them and they manage it for me for as long as I consent to them holding it.