|
|
|
|
|
by 1vuio0pswjnm7
1720 days ago
|
|
"He controls them. He doesn't own them." He controls at least 75% of the class B shares. 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. |
|