The 2025 Forbes Iconoclast Summit brought together some of Wall Street's most influential figures in New York City on June 5, as investors managing trillions of dollars gathered to discuss an economy marked by volatility and rapid transformation. The fourth annual event featured headline speakers including Citadel's Ken Griffin, BlackRock's Larry Fink, and Pershing Square's Bill Ackman addressing concerns ranging from mounting U.S. debt to artificial intelligence's disruptive potential.
Griffin used his keynote to voice alarm about U.S. Treasury markets and criticize President Trump's economic policies, questioning why the administration wants to bring back manufacturing "jobs that'll never pay much" to America12. "It's one thing to make Nikes, it's another thing to make F-35 fighters," Griffin said at the summit2.
The Citadel founder also took aim at Trump's tax policies and tariffs, warning about their potential economic impact1. These concerns echoed throughout the event, with speakers highlighting how supply chain disruptions from tariffs are creating inflationary pressures3.
Larry Fink addressed the mounting federal deficit, describing it as a challenge that could "overwhelm this country"1. During his leadership panel with Rockefeller Capital Management's Gregory Fleming, Fink reflected on BlackRock's growth since its IPO, attributing the firm's success to teamwork and long-term focus4.
Artificial intelligence dominated much of the discussion, with JPMorgan's Mary Callahan Erdoes predicting that "things AI can't replicate will soar in value"1. ICONIQ Capital's Michael Anders warned that AI advancement could lead to massive job losses while transforming business models2.
Despite economic uncertainties, speakers identified emerging opportunities. Marc Lasry highlighted potential in women's sports, particularly the WNBA, while Avenue Capital's Sonia Gardner discussed credit market prospects3. Jim Chanos shared his perspective on which stocks could be the "biggest losers amid AI hype"3.
The summit, moderated by Forbes Editor-at-Large Maneet Ahuja, has grown into a premier venue for high-level financial discourse since its inception12. This year's attendee list included Netflix's Bela Bajaria, former Yankees star Alex Rodriguez, and SoftBank Vision Funds' Alex Clavel, reflecting the event's expansion beyond traditional finance into sports and entertainment1.
The consensus among participants was that while uncertainty creates challenges, it also generates opportunities for those willing to adapt to changing market conditions3.
