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BlackRock link to COVID-19 review not built on solid ground

Facebook video lays claim to US investment giant black rock sponsored fault linesan independent review of Australia’s response to COVID-19.

The allegation is false. The review, published on October 20, was funded by three philanthropic groups: Paul Ramsay Foundation, Minderoo Foundation and John & Myriam Wylie Foundation.

black rock is an American investment services, risk management and advisory company. It’s the the largest asset manager in the worldoverseeing approximately $10 trillion in assets.

The claim was made in a live stream video (screenshot here) on October 26 by the Facebook page Stop the Rot Sack the Lotwhich claims to be an alternative news service with topics such as COVID vaccines, the deep state and general global conspiracy theories.

“Sponsored by BlackRock and backed by all these philanthropists… So that’s who it’s backed by. So right away guys another one false flag. They suck you in,” one of the hosts says of the Fault Lines review (video mark 8min 22sec).

The Facebook video claims BlackRock is pulling the strings in a report on COVID-19 in Australia.

The claim appears to have its origins in an October 22 Facebook video from kate masonwho was a 2022 Federal Election Candidate for the anti-vaccine mandate Informed Medical Advice Part.

In this videoMs. Mason discusses the three philanthropic groups, alleging that they will benefit financially from the review’s recommendations.

Although Ms Mason does not claim the investment giant sponsored the report, she cites the trading arms of philanthropic groups as Fortescue Metals, Ramsay Health Care and Capital of Tanarra then claims BlackRock and Avant-garde are among the major shareholders of Fortescue and Ramsay.

She then tells her followers that the two investment management firms “own pretty much everything in the world.”

At time of publicationBlackRock held a 1.48% stake in Fortescue Metals while The Vanguard Group and Vanguard Investments Australia held 1.32% and 0.99% respectively.

Meanwhile BlackRock held a 2.43% stake in Ramsay Health Care, with BlackRock Investment Management (Australia) holding 0.96%.

The Vanguard Group controlled 1.92% while Vanguard Investments Australia held 1.15%.

She also uses a quote from the president of BlackRock Larry Finckin 2022 letter to CEOs to argue that corporations weaken governments to control society (brand video 6min).

AAP Fact Check has previously debunked claims around the supposed ownership of the companies by BlackRock and Vanguard.

Other Facebook users also use Ms. Mason’s video to amplify conspiracy theories.

The Paul Ramsay Foundation, one of the three groups behind the report, said the claim was false, adding that the review was independent and not influenced by anyone.

“The Fault Lines Report was authored by an independent review panel and jointly funded by the Paul Ramsay Foundation, the Minderoo Foundation and the John & Myriam Wylie Foundation,” a representative said. AAP Fact Check in an email.

“The project’s funders had no say in its findings and recommendations.”

A BlackRock representative also confirmed that it did not fund or sponsor the report.

AAP Fact Check has already debunked other Stop the Rot Sack the Lot claims (see here and here), as well as separate claims about BlackRock (see here).

The verdict

The claim that US investment giant BlackRock sponsored the Fault Lines report on Australia’s COVID response is false. The Paul Ramsay Foundation, one of the three funders of the independent review, has confirmed AAP Fact Check that BlackRock was not involved. BlackRock also confirmed that it did not sponsor the report.

Fake – The request is incorrect.

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