BlackRock fires back at DeSantis’ debate comments, says he’s ‘demonizing’ companies
TUSCALOOSA, Ala. – Investment and financial management company BlackRock fired back at Gov. Ron DeSantis over his comments during Wednesday night’s fourth Republican presidential debate.
The firm, which managers over $8 trillion in assets and is headed by CEO Larry Fink, decried DeSantis for “demonizing law-abiding American companies.”
The company said the governor is undermining “confidence” in the American economy.
“BlackRock focuses on helping millions of Americans retire securely. We make decisions based on our clients’ best interests, not political or ideological agendas,” it said.
The embattled comments from DeSantis involved celebration of “kneecapping” environmental, social and corporate governance practices, or ESG, in Florida.
“Vivek [Ramaswamy] – he wrote a book talking about ESG and these woke corporations, and BlackRock,” DeSantis said. “In Florida, they were managing part of our pension – and then, when they did the ESG, I took $2 billion away from BlackRock.”
“They want to use economic power to impose a left wing agenda on this country,” he said. “They want basically to change society without having to go through the constitutional process.”
“We’ve kneecapped it in the state of Florida,” he added. “The next president of the United States needs to be able to go to that office on day one and end ESG.”
BlackRock’s response to Florida’s Voice’s coverage of the debate prompted intense ire and mocking from X users, DeSantis’ campaign and his governing office team.
“Cry more, BlackRock,” said Jeremy Redfern, press secretary for DeSantis’ executive office. “You guys push corporate racism and ESG.”
Redfern cited screenshots of BlackRock’s website describing BlackRock’s belief in “diversity, equity and inclusion” along with inputting ESG into their “investment decisions.”
“Nikki Haley wasn’t the only one Ron DeSantis triggered with facts tonight,” said the DeSantis War Room on X. “He also triggered her donors!”
Last year, Florida Chief Financial Officer Jimmy Patronis executed the divestment from BlackRock, citing the firm’s “social engineering project” and ESG practices.
“As major banking institutions and economists predict a recession in the coming year, and as the Fed increases interest rates to combat the inflation crisis, I need partners within the financial services industry who are as committed to the bottom line as we are – and I don’t trust BlackRock’s ability to deliver,” Patronis said.
“I think it’s undemocratic of major asset managers to use their power to influence societal outcomes,” he said. “If Larry [Fink], or his friends on Wall Street, want to change the world – run for office. Start a non-profit. Donate to the causes you care about.”
Read more on the fourth Republican presidential primary debate here.
