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International Business Times UK

World

Crisnel Longino

What Is BlackRock? Pete Hegseth Allegedly Caught Trying to Profit off Iran War With Defence Stock Trades

Pete Hegseth BlackRock Iran Donald Trump National Security Morgan Stanley

Concerns of insider trading and national security are raised by BlackRock and purported defense stock trades connected to Pete Hegseth before the Iran crisis. (Credit: Gage Skidmore/WikiMedia Commons)

Mounting scrutiny over Pete Hegseth has pulled BlackRock into the spotlight, after reports claimed a broker linked to him attempted to invest in defence stocks shortly before military action involving Iran.

BlackRock, Inc. is widely recognised as the world's largest asset manager, overseeing an estimated range of around 9 trillion to 11 trillion dollars (£6.8 trillion to £8.3 trillion) in assets under management as of 2025 to 2026. Founded in 1988 and headquartered in New York, the firm provides global investment management, risk management, and advisory services to both institutional and retail clients.

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