Blackrock just disclosed a 15.1% stake in Fox Corporation; likely responsible for shakeup.

Blackrock owns 59 million shares of Dominion and 45.7 million shares of Fox Corp...So Blackrock sues Blackrock and next thing you know Tucker Carlson gets pushed out. Funny how that works

quote:

---

Source?

---

Use Google you lazy bastard.

quote:

---

According to a Wall Street Journal report, BlackRock – led by billionaire Laurence Fink – is purchasing entire neighborhoods and converting single-family homes into rentals; while in cities like Houston, investors like Fink account for one-quarter of the home purchasers.

---

LINK

quote:

---

Source?

---

Honestly it's kind of shameful that you aren't already aware of the ground shifting under your feet. Blackrock asset management has been purchasing blocks of new production homes to rent them out, and they've been doing it for over a year now.

Luckily those of you in south Louisiana won't feel the sting, as they aren't in that market yet.

One thing that I think needs clarifying: BLK doesn't actually own stakes in any of these companies. BLK is relatively unique among asset managers in that they do not have a proprietary trading business, i.e. they do not trade for their own accounts. The ownership stakes with which they are associated represent the ownership of funds, mostly index funds, that BLK manages on behalf of their clients. The clients are the beneficial owners of the shares of these companies, not BlackRock. If the ownership stake changes, it's typically because the weight of these companies in whatever indexes they're in, e.g. S&P 500, Russell 1000, etc, has changed.

Where BLK does exert influence is voting the proxies of these shares. Most investors defer their voting rights to the manager of the funds, hence fund managers can wield an enormous amount of influence in the governance of these companies through voting the shares via proxy. They are supposed to vote in the interest of shareholders and they are under increasing scrutiny to do so, but regardless, this is how BlackRock, Vanguard, etc can be activists, through proxy voting, not actually owning the shares.

this is what libertarians want

quote:

---

this is what libertarians want

---

quote:

---

quote:
This is the same company that is buying entire neighborhoods from homebuilders in American cities.


Source?

---

this is not breaking news. they've been doing this for a while now

Tucker put a bunch of stuff in writing, including criticisms of his bosses that those bosses got to read.

The other stuff he wrote was used as evidence in a lawsuit Fox settled for 3/4 of a billion dollars.

But yeah, must have been Blackrock and proxy voting power.