Institutional investors vote with the board as a matter of policy.
What that 65% actually is, is money from average Americans’ retirement accounts that has been aggregated into index funds instead of individual stocks. That means those individual investors are disenfranchised from voting their shares.
That 65% doesn’t dilute Bezos’ power; it inflates it at the expense of the “little people.” You’re making the opposite of the point you think you’re making.
“Pass through” voting for stocks held through mutual funds is yet another reform that we need but aren’t getting because of oligarchy.
Amazon is not really owned by any singular person. Yes, Bezos owns 8% of it, but he’s neither CEO, nor a president of the company.
He’s founder of Amazon, not owner of it.
Bezos is chairman of the board for Amazon though. The CEO reports to the board.
Board members, who have to vote. He cannot unilaterally control the company.
Institutional investors vote with the board as a matter of policy.
What that 65% actually is, is money from average Americans’ retirement accounts that has been aggregated into index funds instead of individual stocks. That means those individual investors are disenfranchised from voting their shares.
That 65% doesn’t dilute Bezos’ power; it inflates it at the expense of the “little people.” You’re making the opposite of the point you think you’re making.
“Pass through” voting for stocks held through mutual funds is yet another reform that we need but aren’t getting because of oligarchy.
Fascinating. Thanks, hadn’t heard of this.