In a fiery response, BlackRock CEO Larry Fink has accused Republican presidential contenders Florida Governor Ron DeSantis and businessman Vivek Ramaswamy of deliberately spreading false information about him and his company during the fourth debate held in Alabama on Wednesday night.
The accusations stem from a claim made by DeSantis, who asserted that Fink had endorsed their rival, former South Carolina Governor Nikki Haley. Fink promptly refuted the allegations, clarifying that he has not endorsed any presidential candidate this year and has met with multiple candidates throughout the campaign cycle, including Haley.
“I haven’t endorsed any candidate for president this year. I’ve met with at least five of the candidates in this campaign cycle,” Fink clarified on his LinkedIn page.
During the debate, DeSantis and his state finance chief, Jimmy Patronis, took aim at BlackRock for its commitment to sustainable investing practices. DeSantis boasted about withdrawing $2 billion in investments from BlackRock, emphasizing his opposition to Environmental, Social, and Governance (ESG) frameworks, mistakenly referring to ESG as a national policy rather than a set of investor guidelines.
Fink responded to these attacks in a LinkedIn post on Thursday, expressing his frustration with the political discourse. “Now I know why they call this the political silly season,” Fink remarked, adding, “America needs fewer Pinocchios and more Honest Abes.”
The BlackRock CEO further clarified that he was part of a group of business leaders who met with Nikki Haley in New York last month, but this did not translate into an endorsement. The public spat sheds light on the intensifying scrutiny faced by companies like BlackRock that have embraced sustainable investing practices, a trend that has gained momentum in recent years.
DeSantis’s claim of pulling investments from BlackRock reflects a growing sentiment among some politicians who question the integration of ESG considerations into investment strategies. Fink, however, defends BlackRock’s commitment to sustainability and believes that the next president should understand the importance of ESG in the investment landscape.
As the political landscape continues to heat up, these verbal clashes underscore the challenges faced by businesses navigating the intersection of finance and environmental, social, and governance responsibilities. The allegations made during the debate highlight the importance of fact-checking and accurate information in the midst of a competitive and often combative political season.