Florida Chief Financial Officer Jimmy Patronis told Newsmax on Friday that pulling $2 billion worth of state investments out of BlackRock "got their attention" and that it's up to other states to "hold them accountable."
As a result of BlackRock's environmental, social, and governance policies, Florida, Mississippi, and Texas have pulled large sums of money out of the hands of the $10 trillion financial giant. Patronis said he and his advisers saw that BlackRock was performing only "in the middle of the pack" when it came to Florida's investments.
"We generated more in interest managing our own money than we did when we put it with BlackRock, and it started to come to light all of the agenda that the Larry Finks of the world put out there," he said during an appearance on "Carl Higbie FRONTLINE."
Fink, the founder, chairman, and CEO of BlackRock, famously said the world's largest asset manager was "forcing behaviors" upon its clients by using its vast financial leverage to promote left-leaning social and environmental policies.
Patronis said that while BlackRock still yields vast power, it has pivoted slightly in its marketing by showing how "they're looking out for first responders" and other more traditional forms of mass communication.
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James Morley III ✉
James Morley III is a writer with more than two decades of experience in entertainment, travel, technology, and science and nature.
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