Larry Fink, CEO and chairman of BlackRock, the world’s largest asset management firm, delivered a stark critique of modern capitalism during his opening address at the World Economic Forum in Davos. Speaking as interim co-chair of the forum, a role he assumed in August 2025 following the departure of founder Klaus Schwab, Fink highlighted a growing crisis: despite unprecedented wealth creation since the fall of the Berlin Wall, that prosperity has not been shared equitably. “In advanced economies, that wealth has accrued to a far narrower share of people than any healthy society can ultimately sustain,” Fink warned. He cautioned that if current trends continue, the rise of artificial intelligence could replicate and even intensify the same patterns of inequality that have plagued the global economy for decades. “The early gains from AI are flowing to the owners of models, owners of data, and owners of infrastructure,” Fink said. “The open question is, what happens to everyone else? If AI does to white-collar workers what globalization did to blue-collar workers, we need to confront that reality today, directly.” He called on leaders, policymakers, and business executives gathered in Davos to redefine what success looks like in the age of AI. Rather than measuring progress solely by GDP or corporate market caps, Fink argued for a broader vision of prosperity—one that is tangible, accessible, and empowering to the majority of people. “This is going to be the test,” he said. “Capitalism can evolve to turn more people into owners of growth instead of mere spectators watching it unfold.” Fink acknowledged that the World Economic Forum itself has struggled to maintain credibility in recent years, often perceived as an elite retreat disconnected from the lived experiences of most people. “Davos is an elite gathering trying to shape a world that belongs to everyone,” he admitted. “We must be more transparent and precise about what economic success means—especially for those who don’t feel represented here.” According to the World Inequality Report 2026, released in December 2025 and compiled by 200 researchers, the world’s wealthiest 10% now own roughly 75% of global wealth, while the poorest half of humanity holds just 2%. Fink stressed that true prosperity cannot be measured by abstract financial metrics alone. It must be something people can see, touch, and build their futures upon. He urged the global community to develop a “credible plan” to ensure that the benefits of AI are widely distributed—not just concentrated among a few tech giants and investors. The future of capitalism, he concluded, depends on whether it can adapt to include more people in the growth it generates.