BlackRock CEO Larry Fink suffered a meltdown during an earnings call over the company losing billions of dollars in contracts due to the international asset manager’s woke “environmental, social, and governance” (ESG) agenda.
A recording from the call has emerged online and revealed Fink imploded while raging over the Texas Board of Education canceling $8.5 billion in contracts with BlackRock.
As Slay News reported, Texas joined several states in blocking their funds from going to BlackRock due to the company’s ESG agenda.
During the call, Fink lost his cool as he complained about “lies” and “misinformation” regarding BlackRock’s agenda.
“We have done a better job now of telling our story so that people can make decisions based on facts, not on lies and not on misinformation or politicization by others,” Fink said during a first-quarter earnings call.
“Unfortunately, there’s still others out there…who continuously lie about these issues,” he added.
LISTEN:
JUST IN: @BlackRock CEO Larry Fink *absolutely lost it* on their latest earnings call, after the Texas Permanent School Fund pulled $8.5 billion from the woke asset manager over their continued ESG activism:
— Will Hild (@WillHild) April 12, 2024
Texas State Board of Education Chairman Aaron Kinsey severed ties between BlackRock and the Texas Permanent School Fund last month.
The move sought to punish the company for allegedly “boycotting” oil and gas as part of its ESG initiative.
Fink, a board member at the World Economic Forum (WEF), has denied the allegation, however.
In a statement last month, Kinsey said:
“BlackRock’s dominant and persistent leadership in the ESG movement immeasurably damages our state’s oil & gas economy.
“BlackRock’s destructive approach toward the energy companies that this state and our world depend on is incompatible with our fiduciary duty to Texans,” he added.
Today, Texas Permanent School Fund leadership delivered an official notice to global asset manager BlackRock terminating its financial management of approximately $8.5 billion in Texas’ assets.
My statement: pic.twitter.com/wf79a1jZlf
— Aaron Kinsey (@AaronKinseyTX) March 19, 2024
Meanwhile, Fink claims that BlackRock “has never supported divesting from traditional energy firms.”
He argues that BlackRock currently has $300 billion invested in such companies.
According to Yahoo Finance data, BlackRock’s stock is down overall in 2024 amid a growing backlash over its woke agenda.
Meanwhile, the S&P 500 has risen around 8% in recent months.
