The unexpectedly large and influential gathering taking shape in Davos this week owes much to the personal intervention of Larry Fink, the chief executive of BlackRock, who has emerged as the driving force behind efforts to revive the World Economic Forum after a damaging period of controversy. Drawing on decades of relationships with heads of state, corporate leaders and policymakers, Fink has worked behind the scenes to ensure that the annual meeting regains its standing as a central hub for global economic and political dialogue.
Fink, one of Wall Street’s most powerful figures, stepped into the role of interim co-chair of the WEF last year as the organisation grappled with a governance scandal that raised questions about its credibility and future relevance. His outreach proved decisive. Direct engagement with the White House helped secure the attendance of US President Donald Trump, a move widely seen as a turning point that boosted the forum’s appeal to other leaders. Nearly 850 top executives are attending this year, alongside around 65 heads of state, marking one of the most high-profile Davos gatherings in recent years.
In an interview, Fink said he personally contacted heads of state, chief executives and leaders of non-governmental organisations to rebuild trust in the forum’s purpose and relevance. He framed Davos as an essential venue where political and business leaders can meet to address shared challenges, from global growth to rising inequality. Fink warned that prosperity is becoming increasingly concentrated, fuelling political and social polarisation, and argued that dialogue across sectors is critical to reversing that trend.
The guest list reflects the success of that campaign. First-time and returning attendees include Nvidia chief Jensen Huang, Meta president Dina Powell McCormick and JPMorgan Chase chief executive Jamie Dimon, who is appearing on stage for the first time in years. Fink said he expects the meeting to generate tangible outcomes, pointing to dozens of side discussions already planned with senior officials from countries such as Saudi Arabia, Germany and the United Arab Emirates.
Key geopolitical issues are also looming over the gathering. Alongside discussions on artificial intelligence and the reconstruction of Ukraine, leaders are expected to confront tensions sparked by US actions in Venezuela and President Trump’s warning of strong measures against Iran. Fink’s role has been to ensure that the forum remains a place for substantive debate rather than political theatre, even as high-profile figures inevitably command attention.
As head of a firm managing roughly $14 trillion in assets, Fink has long occupied the role of Wall Street statesman. BlackRock has advised governments and central banks during moments of crisis, from managing toxic assets during the 2008 financial meltdown to supporting the US Federal Reserve’s bond-buying programme during the early stages of the Covid-19 pandemic. More recently, Fink has been involved in guiding a BlackRock unit through the politically sensitive acquisition of ports, including those near the Panama Canal.
The challenge of stabilising the WEF has added a new dimension to Fink’s influence. The organisation is still recovering from allegations of financial misconduct and a toxic workplace culture during the tenure of founder Klaus Schwab, who was later cleared following an investigation. Since August, Fink has co-led the WEF’s governing board alongside André Hoffmann, vice-chair of Roche, with a mandate to restore confidence and chart a path forward.
Fink has said he expects to serve as interim chair for no more than two years before handing over to a permanent successor. European Central Bank president Christine Lagarde has been widely mentioned as a potential candidate, a prospect Fink openly welcomed, describing her as highly qualified and expressing confidence in her leadership credentials.
Within the organisation, Fink’s hands-on approach has surprised some staff who initially feared he would act as a symbolic figurehead. Instead, his engagement with Silicon Valley leaders, many of whom had distanced themselves from Davos in recent years, has been credited with drawing them back. Insiders say he embraced the role with unexpected enthusiasm, balancing his responsibilities at BlackRock with efforts to re-establish Davos as a meaningful forum for global conversation.
For Fink, the motivation is rooted in a belief that dialogue remains essential in an increasingly divided world. While acknowledging that the World Economic Forum is far from perfect, he has argued that dismissing it as an elite echo chamber misses its potential value. His intervention has, at least for now, pulled Davos back from the brink, restoring its stature as a place where the world’s most powerful figures can still meet, argue and, potentially, find common ground.
