Hedge fund managers play Robin Hood

Larry Fink, CEO of BlackRock Investments.
Adam Jeffery | CNBC

With Halloween nearing, Wall Street put on its best Robin Hood costume this week, raising millions of dollars to fight poverty and lamenting the rise of economic inequality.

One of the financial community's most prominent members wondered whether it was doing enough.

"The financial community has done well, but a lot of people have been left behind," Larry Fink, chairman and CEO of BlackRock, said at the Robin Hood Investors Conference on Tuesday in Manhattan. "We should be asking the bigger question, 'Are the investments we're making good for society?' "

Fink was one of many bold-faced investment names at the event, which raised $6 million for Robin Hood, the hedge fund-heavy charity that fights poverty in the New York City area. Attendees paid $7,500 per ticket to attend; sponsorship packages ranged from $50,000 to $500,000 and were snapped up by J.P.Morgan, JetBlue, Hyatt Hotels, Sentient Jet and others.

The wealthy crowd was pushed to keep helping the less fortunate by fellow millionaires and billionaires.

"It's a great thing and a great cause you are here for," David Tepper, who earned $3.5 billion in 2013 alone, of Appaloosa Management, told the crowd.

Former Treasury Secretary Larry Summers told attendees that much more was needed to fight poverty than just increasing worker pay.

"Minimum wage is like using a BB gun against Stalin; you're clearly on the right side, but way, way insufficient," Summer said during his remarks.