“I’m tired of hearing this is the biggest election in your lifetime. The reality is over time it doesn’t matter," Larry Fink of BlackRock, BLK, has said

Larry Fink believes the U.S. election won't have a significant impact on the markets.

The BlackRock CEO reiterated his stance that the outcome of the upcoming U.S. election, set to be decided in two weeks, won't matter much in the long term.

"I'm tired of hearing this is the biggest election in your lifetime," Fink said during a conference hosted by the Securities Industry and Financial Markets Association on Monday, as reported by The Financial Times.

"The reality is over time, it doesn't matter," he added, emphasizing that BlackRock works with both administrations and is currently "having conversations" with both Vice President Kamala Harris and Republican nominee Donald Trump.

Fink repeated comments he made earlier this month, stating that U.S. elections rarely have a significant long-term impact on financial markets.

Ties to both candidates
BlackRock, which oversees $11.5 trillion in assets through both passive and active strategies, has connections to both political parties.

Financial disclosure forms revealed that Trump has invested in BlackRock funds. Meanwhile, President Joe Biden has included several BlackRock alumni in his administration, such as Adewale Adeyemo, the deputy Treasury secretary, and Mike Pyle, Vice President Harris' chief economic advisor. Both Adeyemo and Pyle also worked in the Obama administration.

BlackRock has faced criticism from both sides of the political spectrum.

Republicans have repeatedly criticized BlackRock for "woke investing," referring to the firm's focus on environmental, social, and governance (ESG) strategies, a widely-used term in global investing. In July, House Republicans launched an investigation into ESG investing, subpoenaing BlackRock and other firms to investigate what they termed "collusive agreements" promoting left-wing ESG goals. In 2023, Fink said he was moving away from using the ESG acronym due to its politicization.

Additionally, last year, a bipartisan House committee began examining BlackRock's investments in China, scrutinizing stakes in Chinese companies that were blacklisted for allegedly supporting China's military or human rights violations.