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I noticed an interesting thing about Larry Fink, the CEO of BlackRock. This person is truly one of the highest-paid executives in the corporate world.
Let's start with the numbers of his compensation. In 2022, he earned over $32.7 million in total from BlackRock. The breakdown is quite revealing: a base salary of $1.5 million, a bonus of $7.25 million, and stock awards worth over $23 million. In other words, the lion's share comes from stock. Considering that his annual income from BlackRock fluctuates between $20 million and $40 million, it's easy to see why he's among the highest-paid CEOs around.
But what strikes me the most is his relationship with regular employees. According to AFL-CIO, his compensation in 2022 was 212 times that of the average worker’s salary at the company. That’s a huge gap that says something about how the salary structure works in financial giants.
Regarding Larry Fink's wealth, things get even more interesting. According to the latest SEC filings from February 2024, he owned 414,146 BlackRock shares. With the stock trading at $761.28 at that time, his stake alone was worth over $315 million. And this is just from his equity holdings in BlackRock.
Forbes reported that Larry Fink’s total net worth was $1.1 billion as of May 1, 2024. When you look at these numbers, you truly understand the scale of wealth of these top executives in the global financial sector.