BlackRock Inc. (NYSE:BLK) CEO and Chair Larry Fink said Social Security remains “one of the most effective poverty-prevention programs in history” but fails to help Americans build long-term wealth.
“The issue is: Social Security provides stability, but it doesn’t allow most Americans to build wealth in a way that grows with their country,” Fink wrote in his annual chairman’s letter released Monday.
Push For Investment Shift
In his annual letter, Fink argued that the problem lies in the system’s structure. Social Security operates on a pay-as-you-go model, with surplus funds invested in U.S. Treasury bonds that generated about 2.6% returns in 2025.
By comparison, the benchmark S&P 500 index gained roughly 16% over the same period.
He suggested allocating a portion of funds to diversified, long-term investments similar …
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