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BlackRock, Inc.

Asset Management and Investment TechnologyFounded 1988
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
13 historical events · Editorial analysis

BlackRock Company Profile: Revenue, Business Model & Strategy

Research depth: 13 milestones · 10 FAQs

BlackRock is the world's largest asset manager, overseeing $15.3 trillion at June 30, 2026. Founded in 1988 by Larry Fink and seven partners, it runs iShares ETFs, the Aladdin technology platform and private markets units GIP and HPS. It reported $24.2 billion of revenue in 2025.

How BlackRock makes money: BlackRock makes money in three main ways. The largest is base management and administration fees, charged as a percentage of the assets it runs across iShares ETFs, index and active funds, cash funds and institutional…

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2025)$24.2B
Employees24,900
CEOLarry Fink
Founded1988
Industryasset-management-financial-technology
By Swet ParvadiyaLast reviewed:
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Data sources: annual reports, SEC filings, methodology
Industry:Asset Management and Investment Technology

BlackRock, Inc. key figures

BlackRock, Inc. had revenue of $24.2B for fiscal year 2025, up 18.7% from FY2024. Net income was $5.6B, a net margin of 22.9%.

Source: BlackRock 2025 Form 10-K (SEC EDGAR) · Last reviewed October 2026

Revenue growth, FY2016 to FY2025
+7.9% a year
Compound annual rate, $12.3B to $24.2B
Peak revenue year
FY2025
The latest annual year is the highest in this series
Revenue per employee
$972,530
FY2025 revenue divided by 24,900 employees; headcount may use another date
Current chief executive
Larry Fink
In the role since 1988 (38 years)
Documented transactions
8
Between 2005 and 2025
Founded
1988
38 years ago
Where was BlackRock founded?
BlackRock was founded in New York City, United States in 1988. wikidata.org
When did BlackRock start?
BlackRock was founded in 1988.
Who founded BlackRock?
BlackRock was founded by Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein and Keith Anderson.
How old is BlackRock?
BlackRock is 38 years old as of 2026.
In-Depth Analysis
345 words · 2 min read

BlackRock was founded in 1988 by Larry Fink and seven partners as Blackstone Financial Management, a bond manager housed inside the Blackstone Group. Fink had left First Boston after his mortgage desk lost about $100 million in 1986, and he built the new firm around one idea: know exactly what risks you own. The business was renamed BlackRock in 1992, sold by Blackstone to PNC for $240 million in 1994 and listed on the NYSE in 1999.

Aladdin: the risk system that became a product

The analytics BlackRock built for its own bond portfolios became Aladdin (Asset, Liability, Debt and Derivative Investment Network). Starting with BlackRock Solutions in 2000, the firm began selling the platform to other institutions. Today Aladdin, eFront and Preqin data form a technology business that earned about $2.0 billion in 2025. During the 2008 crisis, the New York Fed hired BlackRock to manage the Maiden Lane portfolios taken over from Bear Stearns and AIG.

BGI and the rise of iShares

The 2006 merger with Merrill Lynch Investment Managers added equities and retail reach. The bigger leap came in 2009, when Barclays sold Barclays Global Investors to raise capital. The deal, announced at $13.5 billion, made BlackRock the world's largest asset manager and handed it iShares. In 2025 iShares took in about $527 billion of the firm's record $698 billion of net inflows.

Private markets push

Facing fee pressure in index funds, BlackRock bought Global Infrastructure Partners (closed October 2024), Preqin (March 2025) and HPS Investment Partners (July 2025). GIP has since helped lead the $40 billion Aligned Data Centers deal and a pending $33.4 billion takeover of AES. Management wants private markets and technology to exceed 30% of revenue by 2030.

Scale and scrutiny

BlackRock reported FY2025 revenue of $24.2 billion and reached $15.3 trillion in AUM at June 30, 2026. Its size brings scrutiny: Republican states have pulled money over its earlier climate stance and are suing it over coal holdings, while Democrats question its infrastructure deals. Fink has led the firm since 1988, with co-founder Rob Kapito as President.

Table of Contents

BlackRock, Inc. Key Facts

CompanyBlackRock, Inc.
Annual revenue change+18.7% (FY2024–FY2025)
Financials$24.2B (FY2025, last reviewed October 2026)
Market Cap$166.2B
FY2025 net income$5.6B
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded1988
Founder(s)Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, Keith Anderson
CEOLarry Fink
HeadquartersNew York, NY
IndustryAsset Management and Investment Technology
Employees24,900+

BlackRock Company Profile: Revenue, Business Model & Strategy

"A $100 million trading loss in 1986 led Larry Fink to build a firm around measuring risk. Thirty-eight years later, BlackRock manages $15.3 trillion, earned $24.2 billion of revenue in 2025, and sells its risk system, Aladdin, to other investors."

Why BlackRock, Inc. Wins

BlackRock wins mandates when a client wants one manager for cheap index exposure, active and private strategies, and the Aladdin tools to monitor all of it.

BlackRock, Inc. operates in a competitive market alongside Vanguard, Fidelity Investments, Charles Schwab, Morgan Stanley. Analysts frequently compare BlackRock, Inc. and Vanguard due to their overlapping products, target markets, and strategic positioning.

BlackRock is the world's largest asset manager, overseeing $15.3 trillion at June 30, 2026. Founded in 1988 by Larry Fink and seven partners, it runs iShares ETFs, the Aladdin technology platform and private markets units GIP and HPS. It reported $24.2 billion of revenue in 2025.

Revenue

$24.2B

Founded

1988

Employees

25K+

Market Cap

$166.2B

Author: CorpDigest Research DeskCompany Research

Explore BlackRock In Depth

Detailed research across every dimension of BlackRock — history, financials, leadership, and strategy.

Company History

BlackRock is a New York-based investment manager listed on the NYSE as BLK and included in the S&P 500. It managed $15.3 trillion at June 30, 2026, more than any other firm, for pension funds, insurers, sovereign wealth…

Full BlackRock history →

Revenue & Financials

BlackRock had $24.2B in revenue for fiscal year 2025. Data covers 10 fiscal years. Market capitalization stands at approximately $166B.

BlackRock financials →

Founders

BlackRock was founded by Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, Keith Anderson in 1988 in New York City, United States. Explore each founder's background, motivations, and their role in building the company.

BlackRock founders →

CEO & Leadership

BlackRock is currently led by Larry Fink. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

BlackRock CEO history →

Business Model

BlackRock makes money in three main ways. The largest is base management and administration fees, charged as a percentage of the assets it runs across iShares ETFs, index and active funds, cash funds and institutional…

How BlackRock makes money →

Acquisitions

BlackRock has completed 8 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

BlackRock acquisitions →

Competitive Strategy

Growth now comes from four places. Private markets: GIP (closed October 2024, about $12.5 billion), HPS Investment Partners (closed July 2025, about $12 billion in stock) and ElmTree (2025) made BlackRock a major…

BlackRock strategy →

CorpDigest Research Desk

 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About BlackRock

What is BlackRock?

BlackRock, Inc. is the world's largest asset manager, with $15.3 trillion of client assets at June 30, 2026. It is based in New York, trades on the NYSE as BLK and runs iShares ETFs, index and active funds, private markets businesses and the Aladdin technology platform.

How does BlackRock make money?

Mostly from base management and administration fees charged as a percentage of the assets it manages. It also earns about $2.0 billion a year (2025) from Aladdin and other technology and data subscriptions, plus performance fees and securities lending revenue.

Who owns BlackRock?

BlackRock is a public company owned by its shareholders, mostly institutional investors and funds. It has had no controlling owner since PNC sold its roughly 22% stake in 2020. Before that, Blackstone sold the firm to PNC in 1994 for $240 million.

Who is the CEO of BlackRock?

Larry Fink, who co-founded the firm in 1988, is Chairman and CEO. Co-founder Rob Kapito is President, Martin Small is Chief Financial Officer and Rob Goldstein is Chief Operating Officer.

How much money does BlackRock manage?

BlackRock managed a record $15.3 trillion at June 30, 2026, up 22% from $12.5 trillion a year earlier. AUM was about $14.0 trillion at the end of 2025 after a record $698 billion of net inflows.

What was BlackRock's revenue in 2025?

BlackRock reported FY2025 revenue of $24.216 billion, up 19% from $20.407 billion in 2024. Net income attributable to BlackRock was $5.553 billion on a GAAP basis and $7.736 billion as adjusted.

Who are BlackRock's main competitors?

Vanguard is its biggest rival in index investing. State Street and Fidelity compete in ETFs and retirement, Charles Schwab and Morgan Stanley in wealth management, and Blackstone, Apollo and KKR in private markets.

Is BlackRock the same as Blackstone?

No. BlackRock began inside Blackstone in 1988 as Blackstone Financial Management, took the BlackRock name in 1992 and was sold to PNC in 1994. They are now separate public companies; BlackRock is mainly an index and multi-asset manager, while Blackstone focuses on private equity, real estate and credit.

What is BlackRock Aladdin?

Aladdin (Asset, Liability, Debt and Derivative Investment Network) is BlackRock's portfolio management and risk platform. BlackRock uses it for its own funds and licenses it to banks, insurers, pension funds and other managers; eFront and Preqin data have been added to cover private markets.

What companies has BlackRock acquired recently?

BlackRock bought Global Infrastructure Partners (closed October 2024, about $12.5 billion), Preqin (March 2025, ~$3.37 billion (£2.55 billion)), HPS Investment Partners (July 2025, about $12 billion in stock) and ElmTree Funds (2025). Earlier landmark deals were Merrill Lynch Investment Managers in 2006 and Barclays Global Investors in 2009.

Analysis: How BlackRock, Inc. Makes Money

Deep dive into the BlackRock, Inc. business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

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    Finance

    Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

    Primary source: s24.q4cdn.com/856567660/files/doc_financials/2026/ar/BLK_AR2

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    Editorial Methodology

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    2. Expert Curation

    We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

    3. Multi-Pass Audit

    Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

    Swet Parvadiya
    SEC filings & public records methodology
    Sourced from public financial records

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