Taxes
Larry Fink Frets Over NYC’s Future, Fearing an Exodus Over Taxes
- BlackRock CEO says tax increases may spur workers to relocate
- Assets under management reached $9 trillion in first quarter
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Wall Street is thriving with its employees working remotely -- and that should worry New York’s policy makers, according to BlackRock Inc. Chief Executive Officer Larry Fink.
While BlackRock plans to remain in the city -- it’s moving its headquarters to a new skyscraper in Hudson Yards -- a fresh tax increase on the wealthy may encourage people to relocate, Fink said Thursday in an interview after the firm reported that assets under management eclipsed $9 trillion in the first quarter.