📈 BlackRock's Assets Under Management Climb to $11.6 Trillion in 2024
BlackRock, Inc., founded in 1988, has grown to become the world's largest asset manager. Its journey is a testament to its strategic foresight, innovative approach, and ability to adapt to the evolving financial landscape. From managing $53 billion in assets in 1994, BlackRock has seen its assets under management (AUM) surge to an astounding $11,551 billion by 2024. This remarkable growth represents a compounded annual growth rate (CAGR) of 20%.
Key Milestones in BlackRock's Growth
1. 1999: Public Listing
BlackRock went public in 1999, a significant milestone that provided the firm with the capital needed to expand its operations and enhance its product offerings.
2. 2006: Acquisition of Merrill Lynch Investment Managers (MLIM)
The acquisition of MLIM was a transformative move, nearly doubling BlackRock's AUM and significantly expanding its global reach. This merger positioned BlackRock as one of the world's largest asset management firms.
3. 2009: Acquisition of Barclays Global Investors (BGI)
The acquisition of BGI, including its highly successful iShares ETF business, solidified BlackRock's leadership in the ETF market. This move was pivotal in BlackRock's evolution, providing it with a robust platform to offer innovative investment solutions.