Hugin@lemmy.worldtoNo Stupid Questions@lemmy.world•How do shares work? How does musk control twitter if he only owns 9% of the shares?
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4 days agoSo Musk owns twitter so there is no stock anymore. He does have loans for the purchase which are probably backed by his twitter ownership and his Tesla stock.
However there is another way to not have majority ownership and still have majority voting power. Google has class A and class B shares. Each class A share gets 10 votes and class B shares get 1 vote.
Only the founders of Google got class A shares and if they are transferred to anyone but another founder they revert to class B shares. So they have a minority ownership and a majority vote.
I wasn’t old enough but am glad I saw it (kinda). What is old enough for that movie anyway? Has anybody lived that long?