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Blackrock probably has $8.5B hidden in the couches at HQ

• SV_BubbleTime 3y ago
  I wish more people understood that Blackrock doesn’t have any much of its own money to toss around. The ESG push is from a couple billionaires and Gavin Newsome who has basically sole discretion of California’s 500 billion pension fund. Without Newsome and the gov of IL, ESG wouldn’t exist.
  • boringg 3y ago
    They generate pretty good fees based on their AUM.
  • kstrauser 3y ago
    > Without Newsome and the gov of IL, ESG wouldn’t exist. "Without California and Illinois, a Republican would have won the presidency in 2020." Sure, but that's not the universe we live in.
    • SV_BubbleTime 3y ago
      That isn’t even close to the same thing. We aren’t talking about the 60,000,000 people in these states. Just two people.