Arizona Republican Treasurer Kimberly Yee said the state of Arizona will begin divesting “more than $543 million from BlackRock money market funds.” The state also limited its “direct exposure to BlackRock by 97 percent this year,” citing BlackRock’s shift “from a traditional asset manager to a political action committee.”
From The Washington Free Beacon:
BlackRock CEO Larry Fink, meanwhile, faces an investigation led by 19 state attorneys general for prioritizing "left-wing political initiatives over shareholder returns," the Washington Free Beacon reported. Yee in her statement also calls out Fink's politicization of the company. According to Arizona's Investment Risk Management Committee, Fink dictates that businesses "follow his personal political beliefs," Yee said. The Arizona treasurer said she will "continue to fight back against the dangerous path of companies pushing their social issues and wokeism."
