- BlackRock CEO receives honor shared by Fuld, Druckenmiller
- Event raises about $3 million for NYC's Museum of Modern Art
Job cuts and analysts’ estimates of a drop in BlackRock Inc.’s first-quarter earnings didn’t keep Larry Fink from attending a benefit luncheon on Thursday.
Fink, who built the world’s largest money manager, received the David Rockefeller Award at the Museum of Modern Art, where entry started at $2,500 a ticket. In accepting the honor, Fink quickly turned the tables, praising David Rockefeller, the 100-year-old banker whose mother, Abby Aldrich Rockefeller, helped found the museum.
Rockefeller “has made a difference for so many people, raising the standards, helping us become better at what we are, what we can do, helping us understand we have much greater potential,” said Fink, speaking at a lectern in a third-floor gallery decorated with work by Henri de Toulouse-Lautrec. “You shine the beacon for anyone who believes that giving back is an important component of our lives.”
The event raised about $3 million to support education programs at the museum, where Fink, 63, is a board member serving on the finance, investment, and painting and sculpture committees. Also attending was Rockefeller’s son -- David Jr. -- who is chairman of conservation group Sailors for the Sea, as well as Leon Black, Dan Och, Thomas H. Lee, Cliff Brokaw, Henry Kravis, Larry Gagosian and BlackRock’s Deborah Winshel.
Although originally from Los Angeles, Fink has “definitely become a New Yorker,” said Museum Chairman Jerry Speyer, a co-founder of Tishman Speyer Properties, who presented the award. “His activities span culture, education and all walks of life. He is always there to pick up the phone to help a pal.”
MoMA has bestowed the same award on Richard Fuld, David Rubenstein and Stanley Druckenmiller, to name a few.
BlackRock, which Fink started as a bond shop in a one-room office, has $4.6 trillion under management. He was awarded $28.6 million last year in compensation, according to the Bloomberg Pay Index.
Other guests included Josh and Filipa Fink (Fink’s son and daughter-in-law), Alice Tisch, Don Marron, Michael Lynne, Ronald and Jo Carole Lauder, Gustavo Cisneros, Peter May and Justin Rockefeller. The meal featured poached lobster salad with spring peas, pan-seared chicken with fava beans and a passion fruit meringue tart. The color scheme was yellow and gray with daffodils on the tables.