They control vast amounts of money which is a vast amount of power. As of the fourth quarter of 2024, BlackRock managed $11.6 trillion in assets under management (AUM). This is a record high for the world's largest asset manager. Do you want just one entity controlling $11.6 trillion?
“They control vast amounts of money which is a vast amount of power.”
“They” include me and a lot of other retail investors. They “control” their UAM the same way Fidelity of Vanguard on Manulife do. They invest it on behalf of their private investors. If you’re worried about a concentration of power based on wealth, go after Musk and Bezos.