Amid Recession Fears, BlackRock CEO Larry Fink's Compensation Drops 30% to $25 Million in 2022

Larry Fink, the CEO of BlackRock, has had his total compensation for 2022 reduced by 30% to $25.2 million. Fink’s pay cut is due to his partial meeting of performance goals, resulting in a $1.5 million base salary, $7.25 million in cash incentives, $3.75 million in deferred equity, and $12.7 million as a long-term incentive award. BlackRock has seen a decline in assets under management by 14% to $8.6 trillion due to market turmoil and economic uncertainty. Fink is among the several CEOs who have taken pay cuts, including Apple’s Tim Cook, Google’s Sundar Pichai, and Amazon’s Andy Jassy. BlackRock’s other top executives, including the company’s president, CEO, and head of portfolio management, also saw a decline in compensation of around 30% in 2022.