How rich is Laurence D. Fink?
Laurence D. Fink net worth:
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Laurence D. Fink Net Worth, Wiki & Biography in 2017
Born Laurence Douglas Fink on the 2nd November 1952, in Van Nuys, California USA, of Jewish descent, and is a businessman best known to the world as the chairman of the largest money-management firm in the world, BlackRock. His career started in the mid- 1970s
Have you ever wondered how rich Laurence D. Fink is, as of early 2017? According to authoritative sources, it has been estimated that Fink’s net worth is as high as $340 million, an amount earned through his successful career in the world of finance.
Laurence D. Fink Net Worth $340 Million
Laurence grew up in Van Nuys – his mother worked as an English professor, while his father owned a shoe store. After high school, Laurence enrolled at the University of California, Los Angeles, from which he obtained a BA degree in political science. He then furthered his education at the UCLA Anderson Graduate School of Management, from which he received an MBA degree in 1976.
That year, Laurence got his first job at First Boston, an investment bank with headquarters in New York City. For the next ten years Laurence had great success, heading several operations which eventually resulted in over $1 billion of profit, unfortunately he lost $100 million in 1986, and soon afterwards left the firm, and decided to start his own company.
Teaming up with Susan Wagner, Robert S. Kapito and several other investors and financial executives, Laurence started the BlackStone Group, but after several years of successful business operations, Fink had disagreements with a few other officials of the company, and as a result he and his followers separated from the Blackstone group, starting the company BlackRock, with Laurence serving as its CEO and Chairman. In 1999 he took BlackRock public, at $14 per share at the IPO, and since then BlackRock has become the largest money-management firm in the world, especially after acquiring Barclays Global Investors, with $5.4 trillion in assets as of 2016, and employing 12,000 people in 27 countries. In 2010, Laurence received a salary of $23.6 million, which made him the highest paid CEO in Wall Street at that time.
Apart from BlackRock, Laurence is involved in several other money-management firms, including iShares, Barclays Global Investors and others.
He has also did work for several educational and medical facilities, including being on the board of trustees of New York University, and NYU Langone Medical Center, while also sitting on the board of the Robin Hood Foundation.
Regarding his personal life, Laurence has three children with his wife Lori, with whom he has been married since the mid- ‘70s. His son Joshua is currently the CEO of the hedge fund, Enso Capital.