Consumer Warning: BlackRock is taking your money and betting on China

FOR IMMEDIATE RELEASE
CONTACT: media@consumersresearch.org

WASHINGTON, Dec. 1, 2021 – Today, Consumers’ Research released a Consumer Warning to inform U.S. consumers that BlackRock, the world’s largest money management company, is taking their money and betting on China.

Consumers’ Research’s warning details BlackRock’s ties to China, which date back to the early 2000s, and shines a light on BlackRock’s CEO Larry Fink’s personal relationships with China’s communist leadership.

This Consumer Warning also lists the ten states whose public pension funds are most deeply invested in BlackRock: Washington, Florida, New York, Nevada, Nebraska, South Carolina, Oklahoma, Pennsylvania, Montana, and West Virginia.

“Today BlackRock manages trillions of dollars of Americans’ hard-earned money,” said Will Hild, Executive Director of Consumers’ Research. “Consumers deserve to know what BlackRock is doing with that money. What we’ve seen is that while BlackRock is virtue signaling in the United States, they’re aiding our adversaries with American pension dollars.”

The release of the Consumer Warning comes after new findings in the 2021 Report to Congress, which highlights the economic and national security risks of U.S. financial dealings with China, and BlackRock’s decision to seemingly double-down on its investments in the country with no regard for the Congressional report.

In addition to the warning, last month Consumers’ Research released a hard-hitting TV ad, along with several billboards across New York City, including one in Times Square, exposing ties between BlackRock and the Chinese Communist Party.

“We cannot let executives like Larry Fink try and tell Americans how to live while simultaneously cozying up to one of the world’s leading human rights abusers,” said Hild. “Telling Americans how to behave, while ignoring China’s many environmental and human rights abuses is hypocritical in the worst way. Consumers deserve to know when woke companies are taking advantage of them and misusing their assets.”

You can view the Consumer Warning here.

About Consumers’ Research: 

Consumers’ Research is an independent educational 501(c)(3) nonprofit organization whose mission is to increase the knowledge and understanding of issues, policies, products, and services of concern to consumers and to promote the freedom to act on that knowledge and understanding. Consumers’ Research believes that the cost, quality, availability, and variety of goods and services used or desired by American consumers — from both the private and public sectors — are improved by greater consumer knowledge and freedom.

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