World’s Richest Man’s mega salary revealed, Elon Musk, Jeff Bezos, Mukesh Ambani, Gautam Adani, Lakshmi Mittal not even close, his net worth is…
New Delhi: Larry Fink is the chairman and CEO of BlackRock, the world’s largest asset management firm. The firm was founded in the year 1988 and oversees trillions of dollars in investments globally. The company, which was founded by Larry Fink and seven partners in 1988, has grown into a global leader in investment and technology solutions. BlackRock’s mission is to help clients to build better financial futures, and the firm is trusted to manage more money than any other investment company in the world. Last year, Larry Fink managed to earn USD 36.7 million, up 33 percent from USD 26.9 million. According to a report, the surge in his earnings came after he led the asset management giant to record profits and strong net investor inflows in 2024. However, Fortune reported that Institutional Shareholder Services (ISS), the world’s top proxy advisory firm, has recommended that shareholders vote against BlackRock’s executive compensation proposal at its upcoming annual meeting on May 15.
According to the reports by Fortune, Fink’s USD 1.5 million base salary was unchanged, though his cash bonus rose to USD 10.6 million from USD 7.9 million. The CEO’s total stock grants also went up to USD 24.6 million from USD 16.4 million. The company said, “BlackRock has a long-standing pay-for-performance culture, and our executive compensation program takes a metrics-driven approach that aligns compensation with the successful delivery of long-term business goals on behalf of shareholders,” quoted Fortune.
BlackRock also mentioned, “We value the opinion of our shareholders, and look forward to continued engagement,” as quoted in the report.
According to a Fortune report, ISS cautioned that the proxy advisor feels that BlackRock had not adequately responded to investor concerns raised last year. Just 59 percent approved of the company’s executive compensation arrangement last year, a steep decline from the usual 93 percent average backing BlackRock has received over the last decade, according to the report.
BlackRock has stated that it engaged with executives and investors from its 50 largest shareholders—who collectively hold around 65 percent of the company’s outstanding shares—to address concerns following last year’s vote. However, the investment firm acknowledged receiving criticism over one-time stock option awards granted to several executives and emphasized that no such awards were issued in 2024, the Fortune report stated.
What exactly is in Fink’s pay package?
According to the reports, Fink’s base salary is USD 1.5 million salary, a USD 10.6 million cash bonus, and USD 24.6 million in stock awards.
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