BlackRock Faces $2 Billion Hit as DeSantis Escalates ESG Fight

Florida is pulling about $2 billion from BlackRock Inc. in the largest anti-ESG withdrawal announced by a US state, as Republicans ramp up their fight against the world’s largest money manager.

BlackRock wasn’t aware of the decision until reading about it Thursday in a statement from Florida Chief Financial Officer Jimmy Patronis. In a video posted the day before the announcement, Patronis said financial firms should brace for more actions by the state’s Republican Governor Ron DeSantis, who campaigned for re-election on his so-called anti-woke agenda as he gears up for a possible presidential run.

Florida becomes at ...