News Press

World’s Biggest Investor Tells C.E.O.s Purpose Is the ‘Animating Force’ for Profits

January 17, 2019


The New York Times
Andrew Ross Sorkin

Larry Fink, the investment manager who oversees nearly $6 trillion at BlackRock, set off a yearlong conversation among business leaders and policymakers last January when he wrote a letter to chief executives declaring that companies needed to do more than make profits.

Mr. Fink wrote that it was crucial that businesses also made “a positive contribution to society” — and that he planned to hold them to account.