Published on 4 Apr 2024 on AFP via Yahoo Finance

Misleading claims circulate on influence of BlackRock, Vanguard

BlackRock and Vanguard are two of the world's largest investment firms, managing assets worth trillions of dollars. But claims that the companies control the global economy through ownership stakes are misleading; most of the money they hold belongs to underlying shareholders, and the asset managers have limited influence in corporate decisions due to their own stewardship policies, US regulations and other factors.

"BlackRock and Vanguard: The Two Giants that Own Everything," says a March 25, 2024 Facebook post. "Their ownership stakes in top corporations make them significant players in determining market trends and the future of many industries."

Another Facebook post claims: "Two Companies  Control 99% Of the World's Productive Assets," adding that the firms "own big pharma, big media and just about everything else you can think of!"