> At Facebook, Zuckerberg’s stake, worth some $45 billion, comes with more than 53 percent of the votes in any shareholder poll, according to company filings. That rises to nearly 60 percent including stock owned by co-founder Dustin Moskovitz, which Zuckerberg usually gets to vote.
Note that there have been share sales since the time of this article (2015), so I would assume that the majority has become even more dependent on others voting his way (I wouldn’t know what the board has granted since then, which is a whole other topic...)
About half of that percetange are shares he owns; the other half are controlled by proxy voting agreements with the owners.
As long as at least 9.1% of all shares issued and outstanding are class B stock, the persons controlling those class B shares will have the majority of shareholder voting power.^1
The percentage of all stock issued and outstanding that is class A stock is unlikely to ever rise above 90.9%. Even if if owners of class B shares sell, there is an automatic conversion to class A shares on any transfer and Zuckerberg's voting power only increases as a result.
1. As of 31 Dec 2020, Facebook has 2,406 million shares of class A stock and 443 million shares of class B stock issued and outstanding. Class A stock has one vote per share, class B has 10.
https://www.reuters.com/article/idUS275871279920151202
> At Facebook, Zuckerberg’s stake, worth some $45 billion, comes with more than 53 percent of the votes in any shareholder poll, according to company filings. That rises to nearly 60 percent including stock owned by co-founder Dustin Moskovitz, which Zuckerberg usually gets to vote.
Note that there have been share sales since the time of this article (2015), so I would assume that the majority has become even more dependent on others voting his way (I wouldn’t know what the board has granted since then, which is a whole other topic...)