A Glimpse of a Future With True Shareholder Democracy
Big stock funds own increasingly large chunks of publicly traded companies, leaving fund shareholders without a vote on corporate governance. But there’s a better way.
John Coates wrote in 2018, “Control of most public companies — that is, the wealthiest organizations in the world, with more revenue than most states — will soon be concentrated in the hands of a dozen or fewer people.”Credit...Mark Ostow
May 21, 2021
In the near future, giant index funds, those low-cost investments that have helped millions of people to build nest eggs, will gain “practical power over the majority of U.S. public companies.”