BlackRock

“They have 20,000 employees, they have fifty million investors worldwide, but notably, the last thing I'll say is, a little over 90% of their investors And their investor capital is in the US. So they're not nearly as global as BlackRock or Invesco or Franklin …”

“You can buy an S&P 500 index fund from basically anyone today at basically no cost, but also sort of wrong, because Capital Group, BlackRock, Fidelity, these are all giant profitable companies.”

“None of those other firms would be in this market or doing it in the same way if it weren't for Vanguard.”

“Vanguard is the largest shareholder of most U.S. Corporations, and together with the other big index funds like BlackRock, State Street, and Fidelity, they own 24% of the entire U.S. Stock market.”

“Yes, 1400 total ETFs. In aggregate totaling 3.3 trillion in ETF assets under management, which is the largest player in the market by far.”

“In May of 2024, Vanguard made another big CEO announcement that they were bringing on the first outside CEO in the firm's entire 50 year history, Saleem Ramji, from BlackRock, where he was, until that point in time, head of the iShares division.”

“Similar again, though, to the Fidelity strategy, BlackRock's profits elsewhere in the business allow them to subsidize the ETF business and just win massive amounts of clients.”