You might have heard a lot about companies owned by BlackRock, but who owns BlackRock?
Let’s find out…
But first, a little about Blackrock.
BlackRock, Inc. is the world’s largest asset management firm overseeing trillions of dollars in investments across multiple asset classes. As a publicly traded company, its ownership is distributed among institutional and retail investors with major stakeholders influencing its governance and strategic direction.
BlackRock’s global presence is marked by its vast assets under management (AUM) and its influence on financial markets through advanced risk management and investment technologies. Its pioneering use of data analytics and innovative investment strategies has set industry benchmarks worldwide.
History of BlackRock
BlackRock was founded in 1988 by Larry Fink, Robert S. Kapito, Susan Wagner, and several others as a risk management and fixed-income institutional asset manager.
It expanded its offerings to include ETFs, active equity funds, and alternative investments. The firm went public in 1999 and has since grown through acquisitions such as the notable purchase of Barclays Global Investors in 2009 which brought the iShares ETF brand under its control.
BlackRock has continuously evolved by embracing technological advancements and expanding its global footprint.
Key milestones include the development of the Aladdin platform, a state-of-the-art risk management system, and strategic acquisitions such as eFront and Aperio that bolstered its capabilities in alternative investments and customized portfolio solutions.
This evolution highlights BlackRock’s commitment to innovation and responsiveness to market dynamics.
Who Owns BlackRock?
BlackRock is a publicly traded company listed on the New York Stock Exchange under the ticker symbol BLK. It is owned by a combination of institutional investors, mutual funds, and individual shareholders.
The largest shareholders are primarily institutional investors including some of BlackRock’s own clients.
The share structure is designed to ensure broad ownership, with no single entity holding a controlling interest. This distributed ownership model provides stability and encourages diverse perspectives in corporate governance.
List of Major Shareholders
Below is a breakdown of BlackRock’s largest shareholders as of February 2025:
The Vanguard Group – 9.04% Ownership
Vanguard is one of the largest asset managers in the world, overseeing trillions of assets. As a passive investor, it influences BlackRock through its voting rights and engagement policies. Vanguard’s focus on low-cost index investing makes it a key player in ensuring long-term stability in the market.
BlackRock Inc. (Self-Owned Shares) – Approximately 7.5%
BlackRock holds a portion of its own stock through internal investment strategies and executive compensation plans, ensuring alignment with shareholder interests. This self-holding mechanism often serves as a confidence indicator to the market, signaling management’s commitment to the company’s success.
State Street Corporation – 4.21%
A major financial services and asset management firm, State Street is a key player in the ETF and mutual fund space. Its stake in BlackRock not only reflects its investment strategy but also positions it as both a competitor and a stakeholder in the asset management industry.
Bank of America – 3.45%
As a multinational investment bank, Bank of America holds a stake in BlackRock, benefiting from its investment products and market leadership. This ownership also strengthens the relationship between banking services and asset management, providing synergistic benefits in market operations.
Wellington Management – 2.88%
Wellington is a private asset management firm with a strong presence in institutional investing. It actively engages in shareholder activism and corporate governance, advocating for practices that enhance long-term shareholder value.
Geode Capital Management – 1.99%
Geode specializes in index funds and passive investment strategies. Its significant position as an institutional investor in BlackRock underscores its role in shaping market trends through passive investment channels.
Who Controls BlackRock?
BlackRock is controlled by its board of directors and executive leadership team. Larry Fink, the co-founder and CEO, plays a crucial role in the company’s decision-making.
The board of directors, which includes experienced leaders from various industries, oversees strategic direction and governance.
Beyond the traditional governance structure, BlackRock’s control is also influenced by its rigorous corporate governance practices, including multiple board committees dedicated to audit, risk, and compensation.
These committees ensure transparency and accountability, balancing the interests of diverse shareholders. Institutional investors, while holding substantial stakes, do not have direct control over daily operations but can influence company policies through voting rights and shareholder activism.
BlackRock’s Annual Revenue and Net Worth
BlackRock generated approximately $19.3 billion in revenue in 2024 reflecting an 8.4% year-over-year (YoY) growth from $17.8 billion in 2023. The company’s net income for 2024 stood at $6.1 billion, an increase from $5.5 billion in the previous year.
The historical revenue of BlackRock over the past years has been as follows:
- 2024: $19.3 billion (+8.4% YoY)
- 2023: $17.8 billion (+2.3% YoY)
- 2022: $17.4 billion (-7.6% YoY)
- 2021: $18.8 billion (+20.3% YoY)
- 2020: $15.6 billion (+11.4% YoY)
BlackRock’s total assets under management (AUM) exceeded $11.8 trillion in 2024 reinforcing its position as the world’s largest asset manager.
Further analysis reveals that revenue growth has been driven by a combination of increased fee income from higher AUM and the expansion of technology-driven platforms like Aladdin.
The company’s diverse revenue streams, ranging from advisory fees to performance-based incentives, contribute to its robust financial performance in an ever-evolving market.
Market Share and Competitors
BlackRock dominates the asset management industry with a significant share in ETFs, mutual funds, and institutional asset management.
However, it faces competition from several major firms that also command vast sums in AUM and have distinct market strategies.
The Vanguard Group
Vanguard is the second-largest asset manager, known for its low-cost index funds and ETFs. It has approximately $8.6 trillion in AUM and competes directly with BlackRock’s iShares ETF segment.
Vanguard’s commitment to low fees and passive management continues to challenge BlackRock in attracting cost-conscious investors.
State Street Global Advisors
State Street manages over $4 trillion in assets and is a key competitor in institutional asset management and ETFs particularly through its SPDR product line. Its focus on innovation in ETF products and strategic partnerships in various markets helps maintain its competitive edge.
Fidelity Investments
Fidelity has over $4.5 trillion in AUM and competes in actively managed funds, retirement solutions, and brokerage services. Fidelity’s strong research capabilities and customer-centric investment strategies provide a robust counterbalance to BlackRock’s market share.
J.P. Morgan Asset Management
J.P. Morgan oversees approximately $3.2 trillion in AUM, providing investment solutions across asset classes, including alternative investments. Its global presence and diversified product offerings make it a formidable competitor in the asset management space.
Brands Owned by BlackRock
BlackRock operates several investment brands and subsidiaries across different financial sectors. Below is a detailed breakdown of its major brands, BlackRock’s ownership percentage in each, and its role in managing these entities:
iShares (100% owned by BlackRock)
The world’s largest provider of Exchange-Traded Funds (ETFs), offering investment products to retail and institutional investors globally. BlackRock acquired iShares in 2009 through its purchase of Barclays Global Investors. iShares is renowned for its innovative ETF products that cater to diverse market segments, and it continuously expands its product lineup to meet evolving investor needs.
BlackRock Solutions (100% owned)
A risk management and investment analytics platform that serves financial institutions, government entities, and corporations. It offers sophisticated tools for risk assessment, portfolio construction, and scenario analysis. BlackRock Solutions is pivotal in helping clients navigate complex market conditions.
Aladdin (100% owned)
A comprehensive portfolio management system used by asset managers, banks, and institutional investors. Aladdin integrates risk analytics, trading, and operational tools to optimize investment decisions, acting as the central operating system for both BlackRock and its clients. Its data-driven approach is a cornerstone of modern asset management.
FutureAdvisor (100% owned)
A digital investment advisory platform offering automated portfolio management solutions. Through advanced algorithms, FutureAdvisor provides personalized investment strategies at a low cost, making sophisticated portfolio management accessible to a broader audience.
eFront (100% owned)
A software provider for alternative investments, specializing in private equity and real estate solutions. Acquired in 2019, eFront enhances BlackRock’s capabilities in managing alternative assets by offering robust data analytics and operational tools designed for complex investment structures.
Additional details on these brands highlight BlackRock’s strategic focus on integrating technology with traditional asset management. Each brand operates under a unified vision of leveraging data and innovation to deliver superior investment outcomes, with BlackRock providing centralized oversight to ensure consistent quality and performance.
Final Words
It isn’t surprising to say that BlackRock owns itself.
BlackRock, as the world’s largest asset manager, is owned primarily by institutional investors such as Vanguard and State Street. The company maintains its dominance through strategic acquisitions, cutting-edge technology, and a vast portfolio of investment brands. Despite competition from firms like Vanguard and Fidelity, BlackRock continues to expand its global influence, managing trillions of assets across diverse markets.
FAQs
Who is the largest shareholder of BlackRock?
The Vanguard Group holds the largest stake in BlackRock, owning approximately 9.04% of the company. Its focus on passive, long-term investing contributes significantly to its influential role.
How much revenue did BlackRock generate in 2024?
BlackRock reported $19.3 billion in revenue for 2024, reflecting an 8.4% year-over-year growth. This growth is driven by increased fee income from higher AUM and the expansion of its technology-driven platforms.
What brands does BlackRock own?
BlackRock owns a range of brands including iShares, BlackRock Solutions, Aladdin, FutureAdvisor, and eFront, each playing a crucial role in various segments of the asset management industry.
How does BlackRock maintain its market leadership?
Through a combination of strategic acquisitions, technological innovation, and robust risk management platforms, BlackRock continues to expand its global footprint and maintain a competitive edge in the asset management industry.