They don’t sell seeds. They don’t own tractors. They don’t run warehouses or ship grain. But BlackRock, Vanguard and State Street are among the most powerful actors in global agriculture.
Together, these three asset managers control more than $26 trillion in assets—more than the GDP of the United States and India combined. They are shareholders in nearly every major agribusiness: Bayer, Cargill, ADM, Nestlé, Deere & Co and more. They don’t compete. They co-own. And through that ownership, they govern.
This is not capitalism as competition. It’s capitalism as quiet coordination.
These firms don’t need to dictate policy. They shape the terrain on…
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