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I saw some interesting data circulating about Larry Fink's wealth, the CEO of BlackRock, which warrants reflection on the compensation gap in the corporate world. What stands out is not only his annual salary, which ranges between $20 million and $40 million, but how this translates into overall net worth.
In 2022, Fink's total compensation from BlackRock was over $32.7 million. We're talking about a $1.5 million base, $7.25 million in bonuses, plus $23.25 million in stock awards and another $725,000. Another interesting perspective: according to AFL-CIO, his pay was 212 times that of the company's average employee in the same fiscal year.
But Larry Fink's true wealth emerges from his equity stake. According to the SEC in February 2024, he owned 414,146 BlackRock shares. With stock prices around $761.28, this single holding was worth over $315 million. Forbes estimates his total net worth at around $1.1 billion as of May 2024.
This is one of those cases that clearly illustrates how the wealth of top executives is built primarily on stock holdings rather than base salary. Larry Fink's wealth is concentrated there, in the ownership of the company he leads.