this post was submitted on 28 Feb 2025
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Just be aware that BlackRock is capitalism’s final boss.
This is Berkshire Hathaway Erasure.
They are the most well known private equity firm, but when I learned they are in the 40th place of how many assets they own and manage I was flabbergasted... Worth giving in some more time to understand what happened to the financial world in the past 25-30 years. https://www.visualcapitalist.com/worlds-50-largest-private-equity-firms/ . Personally I can't wrap my head around how much money this ultra rich club has.
Blackstone is not BlackRock, but yes they are also scary. 📺 So does private equity own everything?
Wait, they own the equivalent of 1/3 US yearly GDP?
Not only do BlackRock, Vanguard, and State Street own everything, they also own shares in each other. Antitrust is dead; it’s basically one big monopoly. These three firms own corporate America
They own most of these shares via their index funds, which do not give them controlling power on the companies
Those shares are generally voting shares, giving them enormous power.
Very cool article!