2022 Newsletters

Florida Treasury Divesting $2 Billion from BlackRock

Sep 20, 2023, 09:38 by Chip Beal

This week, I announced that the Florida Treasury is going to begin divesting $2 billion worth of assets that are currently under the management of BlackRock. As your CFO, it is one of my highest responsibilities to make sure that taxpayers are getting the best returns possible. The reality is, banking institutions and economists are predicting a recession in the coming year, and I do not trust that BlackRock will be able to deliver as a committed financial partner during this time.

The CEO of BlackRock, believes that capitalism has the ability to shape society and is leaning heavily on Environmental, Social, and Governance standards (ESG) to police who should and should not gain access to capital. Florida did not sign up to have its cash used to fund BlackRock's social engineering project and that is why the Florida Treasury will be taking its money elsewhere.

Lastly, the Holiday Money Hunt is in full swing, and I am encouraging everyone to spread the word this holiday season and help Floridians recover and claim cash that has been unknown or lost. Florida currently has $2.5 billion total in unclaimed property accounts. One in five Floridians has unclaimed property just waiting to be claimed, and it only takes a few minutes. I encourage everyone to search now for unclaimed property for yourself, your friends, and your loved ones at FLTreasureHunt.gov. It's your money, claim it today!

Sincerely,

Jimmy Patronis
Chief Financial Officer
State of Florida

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