As sage billionaires go, BlackRock chairman and CEO Larry Fink belongs in the same rarefied air as Warren Buffett. And while he probably stopped worrying about his own nest egg a long time ago, as Fink’s firm hit a record $11.

In a recent letter to BlackRock investors, CEO and billionaire Larry Fink said it’s “crazy” that 65 is still considered the normal retirement age. He explained that the challenges facing Social Security and the fact that so many Americans are behind in saving for retirement are crushing the system.

BlackRock set a record for net inflows in 2024, with more than $600 billion.

BlackRock CEO Larry Fink speaks on a panel at the World Economic Forum in Davos, Switzerland. Norah O'Donnell Exits Ahead of Hard Pivot for ‘CBS Evening News' ‘I’m just seen as American’: This 33-year-old mom moved her family from Texas to Greece for safety,

BlackRock CEO Larry Fink says the strength of the US economy may lead the Federal Reserve to hike interest rates later, after easing in the short term. "I see probabilities" of an increase at some point beyond the next 12 months or so,