2/29/2024 0 Comments Laurence d fink and 2008![]() It’s also is the second biggest owner of CoreCivic, the next largest private prison company. This makes BlackRock the second biggest beneficial owner of GEO Group. (Note to reader: all numbers of shares cited are from the most recent company proxy statements, and all calculations of total share value are based on the Janustock market closing).īlackRock owns 9,221,074 shares of GEO Group. But it turns out that Fink and BlackRock are big investors in the two largest private prison corporations in the US. Private prisons have taken a lot of heat – though certainly not from the Trump administration – for profiting off of mass incarceration and the detention of immigrants. BlackRock is a huge investor in some of the nastiest industries around – private prisons, fossil fuels, and shady banks, to name a few. The New York Times went so far as to say the letter “may be a watershed moment on Wall Street, one that raises all sorts of questions about the very nature of capitalism.”īut if Fink is pushing a new wave of shareholder activism to promote social responsibility, he doesn’t need to go much further than his own company. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” “Society is demanding that companies, both public and private, serve a social purpose. In a letter he drafted that he’s sending to CEOs, Fink writes: ![]() Now Fink appears to be trying to wield BlackRock’s influence for good. As founder and CEO of BlackRock, he oversees the investment of around $6 trillion – yes, trillion – in funds. Fink may be the most powerful investor in the world.
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