When it comes to the richest people in the world, we usually count the names of Elon Musk, bill gates and Jeff Bezos. However, the person we are going to tell you about today is ahead of all of them in terms of earnings this year. Here we are talking about BlackRock CEO and Chairman Larry Fink.
What does the company do?
BlackRock is the world's largest asset management company, which handles trillions of dollars of investments. Formed in 1988, the aim of this company is to help its customers raise money for tomorrow. In 2024, this company made record profits, the effect of which was also seen on Fink's salary.
This is how much Larry earned from the company in one year
Larry Fink earned $36.7 million (more than Rs 227 crore) last year, which is 33 percent more than his income of $26.9 million last year. According to Fortune, there was no change in his salary during this period and it remained stable at $1.5 million (about Rs 12.7 crore), but his cash bonus increased from $7.9 million to $10.6 million and stock awards increased from $16.4 million to $24.6 million.
Things got worse on executive pay plan
BlackRock, while talking about this, said that the company believes in paying on the basis of performance. The company also talked about giving importance to the opinion of its shareholders. However, not everyone is happy with this. A Fortune report revealed that only 59 percent of shareholders approved BlackRock's executive pay plan last year, down from an average of 93 percent over the past 10 years. Institutional Shareholder services (ISS), the world's top proxy advisory firm, also criticized BlackRock for not properly addressing investors' concerns. In response, the company said it discussed their concerns with executives and investors representing about 65 percent of its shares. The company also said that after facing criticism, no one-time stock option awards would be given in 2024. However, despite all this, Larry Fink is one of the highest paid business leaders in the world today.
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