BlackRock and other major asset managers set corporate America's policies based on the money they receive from clients, which is frequently the retirement and pension funds of average American investors. Now, the investment giant BlackRock has lost $1.7 trillion of this money in six months.
According to a report released on Wednesday by Bloomberg analyst Marc Rubenstein, BlackRock has lost $1.7 trillion of its clients' money since the start of the year, the highest amount ever lost by a single company in a six-month timeframe.
According to Securities and Exchange Commission (SEC) records, among BlackRock's biggest investments are tech giants like Apple, Microsoft, Amazon, and Tesla, despite the fact that these businesses were among the first to fire significant numbers of employees as the stock market began its protracted decline.
“The first half of 2022 brought an investment environment that we have not seen in decades,” BlackRock CEO Larry Fink said in the company’s sec...