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by andrewparker 5998 days ago
Sergey and Larry hold a controlling stake because there is a dual class of Common stock where the Founders' stock has 10x the voting power per share compared to normal Common stock.

Sergey and Larry have something like 30% of the equity combined but held 85% of the voting power.

1 comments

Does "fiduciary responsibility" mean "represent the voting stockholders" or "represent all the stockholders"? I believe the latter. Which puts executives in a bind when those two populations differ.
I believe by "voting power" he means the voting power if everyone turned up to vote. That's a shitload a stock, huh?