Consumers' Research blasts BlackRock's Larry Fink for going 'all-in on China'
Ad ends by slamming Fink and BlackRock as 'taking your money' and 'betting on China'
Fink calls for middle ground on environmentally-sensitive investing in his annual letter to other chief executives.
FIRST ON FOX: Conservative nonprofit Consumers’ Research blasted investment giant BlackRock’s CEO Larry Fink for going "all-in on China."
Consumers’ Research slammed Fink in a new digital ad exclusively obtained by FOX Business, which highlights the financial leader's kowtowing to "Chinese communists."
"Larry Fink wanted the world to think he was woke until we called him out for violating his fiduciary duty to America's pensioners. Now he's backtracking and claiming he's just a capitalist," Consumers’ Research executive director Will Hild told FOX Business in a statement.
BLACKROCK INVESTMENTS IN CHINA: CONSUMERS’ RESEARCH WARNING CONSUMERS, GOVERNMENTS
"He's lying again, but his actions speak for themselves," Hild continued. "He's using American investment dollars to cozy up to Chinese communists and woke politicians, betraying the American consumer in the process."
Larry Fink, chief executive officer of BlackRock Inc., gestures as he speaks during a Bloomberg event on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2020. World leaders, influential executives, banker … (Photographer: Simon Dawson/Bloomberg via Getty Images / Getty Images)
The ad, which was released Thursday, torches Fink over his connections to China. Additionally, Consumers' Research created a website to expose Fink's different controversial political positions.
"He calls democracy ‘messy.’ Props up the Chinese Communist Party," the video says. "Praises [Chinese President] Xi and his regime, known for violent oppression."
"Invests in Chinese military companies," the video continues. "A defector? No. It’s BlackRock CEO Larry Fink, the CEO of a major American company that has gone all-in on China."
The ad ends by blasting both Fink and BlackRock as "taking your money" and "betting on China."
Chinese President Xi Jinping is zeroing in on the ties that China’s state banks and other financial stalwarts have developed with big private-sector players, expanding his push to curb capitalist forces in the economy. (AP Photo/Mark Schiefelbein)
Consumers’ Research warned 10 state governors via a letter last December against doing business with BlackRock over the company's investments in China.
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Hild sent the letter to the governors of Washington, Florida, New York, Nevada, South Carolina, Oklahoma, Pennsylvania, Montana, Nebraska and West Virginia – the 10 states with the top-10 state pension fund investments with BlackRock – to "raise awareness among American consumers that BlackRock is taking their money and betting on China."
BlackRock did not immediately reply to FOX Business' request for comment.
FOX Business' Audrey Conklin contributed reporting.