Latest news with #IconoclastSummit
Business Insider
a day ago
- Business
- Business Insider
The advice Elon Musk's lawyer gives his high-profile clients in times of crisis
High profile attorney Alex Spiro has one key piece of advice for clients wading through tricky times: Don't panic. The words of wisdom were shared as one of his most high-profile clients, Elon Musk, is in the midst of a public feud with President Donald Trump. It's unclear if or how the attorney is guiding him through this particular debacle. The lawyer, who has also represented Alec Baldwin, Mayor Eric Adams, and Jay-Z, through muddy legal waters, shared the advice he gives to clients during times of crisis at the Forbes Iconoclast Summit on Thursday. "You got to get people to take a breath and not panic," Spiro said, adding that it's easier for some people to do so more than others. A source close to Spiro got more specific. Those who know him know that his No. 1 piece of advice is to "have an ice-cream cone." In other words, step away from the keyboard and cool off. "Nothing is better than chocolate ice cream," the source close to Spiro said. The attorney isn't certain whether clients listen to the advice, but they at least pretend to, the source said. Spiro, who spends a good chunk of his time on risk mitigation, told the Iconoclast Summit attendees that he tries to get clients to put their situation into perspective and focus on the facts and evidence in front of them. "The sky is not falling," Sprio said. "The things that we think are a big deal today won't be a big deal in a month." While most CEOs aren't publicly blasting the president on social media, many are navigating global and economic uncertainty, from looming tariffs to market volatility. Spiro said the best CEOs and CFOs he knows know how to take a "methodical" approach to uncertainty, which in the case of tariffs, would involve looking into their supply chains and preparing for what may happen next. "I try to follow and steal the best ideas from the smartest people I know and then tell others about it," Spiro said. "That works out usually." Musk is one of those people. Spiro said on Thursday that Musk likes to cut costs during times of uncertainty because it leaves organizations more nimble on the other side. The billionaire is most recently known for doing so in the government, where he led efforts to slash about 20,000 federal employees, or about 1% of its workforce. Musk also laid off 10% of Tesla's workforce in waves last year and cut Twitter's workforce in half after he purchased it in 2022.
Business Insider
3 days ago
- Business
- Business Insider
'We live in a terrarium': Larry Fink on why today's leaders should be 'more guarded'
BlackRock CEO Larry Fink has some words of wisdom for leaders navigating the age of populism and social media: Watch what you say. "You have to be a lot more guarded," Fink said on Thursday. "I can't say everything I really want to say to all of you right now," he joked to the audience attending Forbes's Iconoclast Summit. "The reality is you have to be a lot more systematic in what you say and how you say it internally or externally," he said, adding, "I mean, we live in a terrarium today. We live in a glass bottle." The billionaire cofounder of the world's largest asset manager is no stranger to backlash over the firm's business decisions. Fink's embrace of "ESG" investing, for example, has been derided by Republicans as "woke capitalism," while drawing criticism from climate groups for not going far enough. The state of Texas only recently removed the asset manager from its investment blacklist, allowing the state to reinvest with the firm, after BlackRock withdrew from climate-focused initiatives like the Net Zero Asset Managers initiative. "You have to lead differently," in this era, Frink said. "You have to be a lot more thoughtful in every word you say." He said this holds true when it comes to internal messaging as well. "If you can't get your messaging properly with your employee base, and we have 23,000 employees at BlackRock globally, how are you going to get those messages across to all your clients?" Fink said. Fink told the audience gathered at the Cipriani's restaurant in downtown Manhattan that leaders also need to be led. He gave the example of a trip to the firm's European officers following President Trump's "Liberation Day" trade tariffs were unveiled. "The Europeans were quite frightened," Fink said. They were frightened about the potential for dramatic changes to US policy and the implications this could have on the culture and direction of their US-based employer. "Is BlackRock changing too?" Fink recalled them saying, before he reassured them that it would not. "It was just a wake-up call," Fink said. "Even for me, and I think I'm pretty well experienced in this stuff. Again, when there's great moments of uncertainty, even your top leaders need to be led."
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Larry Fink Says Tariffs to Stoke Inflation, Slow Economy in Coming Months
The Federal Reserve's favored inflation gauge is now sitting just above the central bank's 2% target , but Fink doesn't expect that to last. "The biggest thing we're missing here in the United States is the inflationary backdrop. If the tariffs are instituted over the next five months, I think we're going to see very elevated inflation," Fink said Thursday at Forbes Iconoclast Summit in New York.
Forbes
16-04-2025
- Business
- Forbes
The 2025 Forbes Iconoclast Summit Will Convene The Finance Industry's Most Influential Dealmakers, Financial Titans, Investors And Market Movers
Forbes 2025 Iconoclast Summit Forbes Design The Forbes Iconoclast Summit will be returning for its fourth annual event on June 5, 2025 in New York City, bringing together the world's leading voices at the intersection of Wall Street, entrepreneurial capital and global business. The exclusive, invite-only Summit will be held during a crucial time in the industry with geopolitical tensions on the rise and uncertainty around key regulatory and policy decisions shaking up public and private markets globally. The Summit's 2025 theme, Seizing Opportunities in a Dynamic Market, will provide a space for market-moving conversations on tariffs and trade, expanding private market access, the AI boom, the intersection of media, sports and entertainment and more. Known for its unique ability to gather industry-leading individuals, Forbes' 2025 Iconoclast Summit features an established roster of speakers with over $20 trillion assets under management, including Larry Fink, Chairman & CEO at BlackRock, Kenneth C. Griffin, Founder & CEO at Citadel, Bill Ackman, Founder & CEO, Pershing Square Capital Management, L.P., Mary Callahan Erdoes, CEO, J.P. Morgan Asset & Wealth Management, as well as: "This year's Iconoclast Summit will delve into the pressing issues facing the most influential global leaders and investors managing trillions of dollars of capital," said Maneet Ahuja, Editor-at-Large, Forbes and Founder, Iconoclast. "Our focus will be on discussing ways to navigate market asymmetries, finding opportunities, and identifying megatrends driving growth over the near- and long-term.' The 2025 Summit will include a full day of global economic discourse with actionable insights, and the opportunity to network with one another to build lasting business connections – a fundamental element in how Forbes continually convenes its audiences. As in prior years, the Summit content will be guided by an esteemed Advisory Board that includes Oscar Fahlgren, CIO, Mubadala Capital, Michael Anders, Founding Partner, ICONIQ Capital, HRH Princess Jahnavi Kumari Mewar, Founder & Head of Private Equity, Auctus Fora, and Consuleo Vanderbilt, Cofounder & CEO, SohoMuse, among others. The Presenting Sponsor for the 2025 Forbes Iconoclast Summit is Corient. Philip Morris International is the Partner Sponsor and Mizuho Americas is the Supporting Sponsor. For more information and to register for the event, click here. To join the conversation on social, follow #ForbesIconoclast. For sponsorship inquiries, please reach out to sponsorships@ Media Contact: Christina Vega Magrini at cmagrini@
