Robert S. Kapito
Robert Steven Kapito | |
|---|---|
| Born | February 8, 1957 Monticello, New York, U.S. |
| Occupation(s) | Entrepreneur, investor |
| Years active | 1979–present |
| Known for | Co-founder and president of BlackRock |
Robert Steven Kapito (born February 8, 1957) is a prominent American entrepreneur and investor. He co-established the investment management company BlackRock, headquartered in New York City, alongside Larry Fink and Susan Wagner, and currently holds the position of president.
Early life
Kapito was raised in Monticello, New York within a working-class Jewish household. His family operated a tire and automotive repair shop in Monticello for five decades, run by his father, aunt, and two brothers. At age 13, Kapito’s father experienced a severe stroke but remained active in the business until his passing in 1986; his mother died in 1997.
He completed his secondary education at Monticello High School in 1975. Following graduation, he spent two years studying at the State University of New York at Buffalo before transferring to the Wharton School of the University of Pennsylvania, where he obtained a bachelor's degree in economics in 1979. Kapito later earned an MBA from Harvard Business School in 1983.
Career
Upon graduating from Penn in 1979, Kapito began his career at First Boston within the Public Finance Department. Recruited by Larry Fink, he contributed significantly to developing the U.S. market for mortgage-backed securitys. After leaving to pursue his MBA, he returned to First Boston in 1983 as part of the Mortgage Products Group. In 1988, Kapito co-founded BlackRock with Fink under the auspices of the private equity firm Blackstone Group. At BlackRock, he has been recognized as a determined and steadfast ally of Fink.
In 2012, Kapito was honored with the Gustave L. Levy Award by the United Jewish Appeal Federation of New York in recognition of his charitable contributions.
In 2022, he cautioned about potential product shortages and remarked that "a very entitled generation that has never had to sacrifice" was encountering inflationary pressures for the first time. These statements attracted criticism due to his considerable compensation and wealth.
Kapito was one of approximately 200 international financial leaders who participated in the 2022 Global Financial Leaders' Investment Summit held in Hong Kong. This attendance drew reproach from two U.S. Congressional members who argued it served to endorse the diminishing autonomy of Hong Kong under officials aligned with the Chinese Communist Party.
He holds a position on the board of trustees at the Wharton School of the University of Pennsylvania and is involved with the Executive Education Faculty at the Harvard Kennedy School. Additionally, Kapito chairs the boards of both the Hope & Heroes Children's Cancer Fund and Periwinkle Theatre for Youth, a national nonprofit dedicated to arts education.
Personal life
Kapito married Ellen R. Hershey, an alumna of the University of Pennsylvania School of Nursing, in 1980. Ellen is the daughter of Bernard and Roslyn Hershey from North Valley Stream, New York, and serves on Penn’s School of Nursing board of overseers. The couple has four children. His personal interests include golf, skiing, and restoring classic automobiles.
External links
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- American financial company founders
- American financiers
- American investors
- 20th-century American Jews
- American money managers
- BlackRock people
- Harvard Business School alumni
- Jewish American bankers
- American bankers
- Living people
- University of Pennsylvania alumni
- 1957 births
- 21st-century American Jews
- People from Monticello, New York
- Monticello High School (New York) alumni