Blackstone owns the property, Blackrock does the financing.
BlackRock does asset management, so technically their clients own all the stuff, but BlackRock allocates it. 12+ trillion USD worth.
So, BlackRock is kind of this Boogeyman for conspiracy theorists, because they actually own about 4 to 5% on average of a bunch of different stocks. So, yes, it’s a $164Bn company that “owns everything” but no, they don’t control jack fuckin shit.
They manage about $12,500,000,000,000 in assets. Choosing how to allocate that capital is still an insane amount of power.
Okay but they’re clearly not “choosing how to allocate that capital” as any “insane amount of power” if they’re just buying 5% of literally everything. They’re basically just the physical embodiment of hedging bets works and that line goes up.
When you search them up the two biggest controversies they’ve ever been involved with are:
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A false claim of them buying all the houses, with a helpful wikipedia page
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The fact that they settled a lawsuit started by conservatives who didn’t like their “promote diversity” ESG policies
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Mathematically if you put a bank in a town, it’s only a matter of time before the back owns the town. That’s how interest works.
