BlackRock's Net Worth Hits Record $10.65 Trillion in Q2

July 15 (Reuters) - Assets managed by BlackRock (BLK.N) hit a record $10.65 trillion in the second quarter thanks to rising client cash inflows and strong market performance. The world's largest asset manager, BlackRock Inc., hauled in $51 billion of client cash to its long-term investment funds in the second quarter, pushing its total assets under management to unprecedented levels. The company pulled in more than $80 billion of new money during the quarter, solidifying its position as a powerhouse in the financial industry.

BlackRock, led by 71-year-old Larry Fink, has cemented its status as the world's largest money manager with its impressive growth in assets under management. Fink's strategic leadership has propelled BlackRock to new heights, making it a dominant force in the global investment landscape.

The expansion of BlackRock into private markets is set to increase the net worth of Preqin founder Mark O'Hare, who is poised to benefit significantly from the acquisition. The deal is expected to add $2 billion to O'Hare's net worth, further solidifying his position as a key player in the financial data industry.

Investors are advised to take advantage of the 'golden age of fixed income,' according to BlackRock's Rick Rieder. With the company's expertise and insights, investors can capitalize on opportunities in the fixed income market and maximize their returns in this favorable environment.

As of the first quarter of 2024, BlackRock had total assets under management of $10.65 trillion, reflecting its continued growth and success in the financial industry. The New York City-based asset management company has established itself as a leader in the field, attracting significant investments and delivering strong results for its clients.