Two World Controlling Giants in Present
Two of the Big Three asset management companies for passive funds are BlackRock and Vanguard. Vanguard is the largest shareholder in BlackRock, which owns State Street, the third company. All paths appear to lead to BlackRock. The combined managed assets of the three companies total $20 trillion, which is greater than half the value of all the shares of S&P 500 companies, which is approximately $38 trillion. And, with the exception of China and the United States, that is greater than the gross domestic product (GDP) of every single nation on the planet. BlackRock is the only private organization that collaborates closely with central banks, earning it the nickname "The Fourth Branch of Government" according to Bloomberg. These businesses were on the right side of the Federal Reserve, which aided in the clean-up during the 2008 housing crisis. BlackRock and Vanguard have respective AUMs of $8.6 and $8.1 trillion. They jointly own or have investments in 1,600