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July 22, 2022 at 8:17 pm

BlackRock Faced with Catastrophic Loss Worth 100’s of Billions, Smashes Industry Records…

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by Abby Liebing at The Western Journal

BlackRock Inc. is the world’s largest asset manager, controlling trillions in assets. It is one of the great, if not the greatest, financial giants of the globe.

But this year, BlackRock has set a new record by losing the largest amount of money a single firm has ever lost over a six-month span, Bloomberg reported.

Just in the first half of this year, BlackRock lost $1.7 trillion of clients’ money.

Overall, as of December 2021, BlackRock manages about $10 trillion of other people’s money. That’s more than the gross domestic product of every country in the world, except for the U.S. and China, Insider reported.

So losing $1.7 trillion is a significant blow…

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