BlackRock CEO Larry Fink Warns AI Could Worsen Inequality, Urges Broad Ownership of Growth - BLK

BlackRock CEO Larry Fink warned at the World Economic Forum in Davos on January 22, 2026, that artificial intelligence could replicate the wealth concentration seen during globalization, risking widespread economic exclusion and populist backlash. He said gains from AI are currently flowing to owners of models, data, and infrastructure, while displacing white-collar workers—just as globalization hollowed out blue-collar jobs. Fink cited Federal Reserve data showing the wealthiest 1% of U.S. households own 31% of net worth, while the bottom half holds less than 3%. He emphasized that prosperity must be measured by inclusive access, not just GDP or corporate valuations. Microsoft research ranked translators, journalists, and financial advisors among the most vulnerable occupations to AI disruption. Fink urged leaders to move beyond vague promises about future jobs and instead ensure pension funds and savers benefit from AI-driven growth through investments in infrastructure. He argued that if ordinary investors remain sideline observers, they will feel alienated from the economy’s progress.