The founder and Executive Chairman of the biopharmaceutical company Roivant Sciences blasted BlackRock Chief Executive Officer (CEO) Larry Fink.
“Larry Fink claims to embrace ‘ESG.’ In practice, he does political favors for the CCP in return for market access to China and earns hefty fees from American workers who have no idea how he uses their assets to advance his own agenda. The face of the woke-industrial complex,” Vivek Ramaswamy said on Twitter.
Larry Fink claims to embrace “ESG.”
In practice, he does political favors for the CCP in return for market access to China and earns hefty fees from American workers who have no idea how he uses their assets to advance his own agenda.
The face of the woke-industrial complex👇 pic.twitter.com/f4xAxQQItu
— Vivek Ramaswamy (@VivekGRamaswamy) October 26, 2021
“ESG” stands for “Environmental, Social, and Governance,” which are non-traditional social factors some investors are figuring into their investment portfolios.
Ramaswamy, an Ohio native, is also the bestselling author of “WOKE, INC. Inside Corporate America’s Social Justice Scam.”
“The modern woke-industrial complex divides us as a people,” the book’s description says. “By mixing morality with consumerism, America’s elites prey on our innermost insecurities about who we really are. They sell us cheap social causes and skin-deep identities to satisfy our hunger for a cause and our search for meaning, at a moment when we as Americans lack both.”
Many have criticized BlackRock, America’s largest investment company that would be traditionally loathed by the political left, for essentially buying off progressive and moderate Democrats with cheap social justice platitudes.
Worse, the company and its CEO have deep ties to Communist China, a global competitor to the United States and one of the worst human rights abusers in the world.
Ramaswamy criticism of BlackRock comes amid increased scrutiny of the company.
The ad accuses BlackRock of “pouring in billions” to China, “propping up Communist Chinese leaders, [and] putting money into surveillance companies used by the Chinese military.”
“BlackRock: taking your money, betting on China,” the spot finishes.
“No amount of woke posturing can hide what BlackRock is really up to. The idea that an American company is taking billions of dollars and using it to bet on China’s success is extremely concerning,” Executive Director of Consumers’ Research Will Hild said in a statement, as reported by The Tennessee Star.
“We cannot allow this to continue,” Hild said. “Funneling Americans’ hard-earned retirement savings to China is unsafe from both a national security and financial perspective.”
BlackRock has also recently taken heat for its $60 billion worth of residential real estate holdings. In some cases, the company has bought entire residential neighborhoods, and turned the homes into rental properties.
Some commentators, like Ohio-based Pedro Gonzalez, worry that the company is making homeownership more difficult for Americans, and could cause another housing bubble.
“Homeownership gives people a stake in a society. It’s a way to build generational wealth. It’s the foundation of the middle-class and part of the American dream,” Gonzalez recently said on “Tucker Carlson Tonight.”
“The same institutions also promote progressive [political] policies like environmental policies that also raise the price of housing – and they push for more immigration,” Gonzalez said.
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Pete D’Abrosca is a contributor at The Ohio Star and The Star News Network. Follow Pete on Twitter. Email tips to [email protected].
Photo “Larry Fink” by Wilson Center. CC BY-SA 3.0. Photo “Vivek Ramaswamy” by Sedgedorrit. CC BY-SA 4.0. Background Photo “China” by viarami.