BlackRock Inc Chief Executive Officer Larry Fink sold nearly 7% of his stake in the asset management giant, netting proceeds of about $25 million.
Larry Fink, Chairman and CEO of BlackRock, speaks during an interview with CNBC on the floor of the New York Stock Exchange in New York City, U.S., April 14, 2023. REUTERS/Brendan McDermidChief Executive Officer Larry Fink sold nearly 7% of his stake in the asset management giant, netting proceeds of about $25 million.Last week, the New York-based company reported an, but trounced analysts' estimates as investors continued to pour money into its funds.
Turmoil in the markets, like the one sparked by the banking crisis last month, can present "enormous opportunities" for BlackRock, Fink said last week. Shares of BlackRock, which makes most of its money from fees on investment advisory and administration services, gained nearly 3% since the banking turbulence began last month. Stock lost 0.6% on Friday.
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