Opining about the world’s largest economic challenges is now an annual endeavour for Larry Fink, the founder of the world’s largest investment firm, BlackRock. This year, his crisis de jour has moved from climate change to funding the ageing population.

Unsurprisingly, there’s no shortage of self-serving answers in Fink’s thesis on how to live in prosperity in retirement – given BlackRock is a company that invests the retirement savings of millions in the US and around the world and manages $15 trillion of other people’s money.

Chairman and chief executive officer of BlackRock Larry Fink has tackled our increasing longevity in his annual letter to investors.

There is nothing new about our ever-improving life expectancy.

But what elevates the challenge of funding the ageing population to a new level is biotechnology. Last year, when two biotech companies cracked the code for close to eliminating obesity, the notion of old age changed.

Obesity and a raft of potential life-threatening conditions associated with it have been responsible for taking years off life expectancy.

Once weight loss drugs like Ozempic, Wegovy and their eventual imitators become more widespread, the maths on how to fund people in retirement gets far trickier and the problem becomes exponentially larger.

“As a society, we focus a tremendous amount of energy on helping people live longer lives. But not even a fraction of that effort is spent helping people afford those extra years.”

The next holy grail of medical breakthroughs – and one in which biotechs are investing billions – is a cure for degenerative brain diseases like Alzheimer’s. Some in the field are now suggesting this won’t be too far off, either.

These breakthroughs underscore a frustrating irony, according to Fink: “As a society, we focus a tremendous amount of energy on helping people live longer lives. But not even a fraction of that effort is spent helping people afford those extra years.”

QOSHE - How to fix the ageing crisis? Follow Australia, says world’s most influential investor - Elizabeth Knight
menu_open
Columnists Actual . Favourites . Archive
We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

How to fix the ageing crisis? Follow Australia, says world’s most influential investor

14 1
27.03.2024

Opining about the world’s largest economic challenges is now an annual endeavour for Larry Fink, the founder of the world’s largest investment firm, BlackRock. This year, his crisis de jour has moved from climate change to funding the ageing population.

Unsurprisingly, there’s no shortage of self-serving answers in Fink’s thesis on how to live in prosperity in retirement – given BlackRock is a company that invests the retirement savings of millions in the US and around the world and........

© The Sydney Morning Herald


Get it on Google Play