“As of January 2022, there were about 2.3 billion class A shares in Meta, and 412.86 million class B shares. But although class B shares represent just 15 per cent of total stock, they represent 64 per cent of the votes. And it means Zuckerberg alone controls more than 57 per cent of votes – meaning the only way he can be removed as chief executive is if he votes himself out.”

[–] Jeremyward@lemmy.world 2 points 9 months ago

Or if he sells those shares...

[–] merc@sh.itjust.works -1 points 9 months ago (1 children)

So, he's not Meta's owner, he just fooled Meta's owners into giving him the keys.

[–] fubbernuckin@lemmy.world 1 points 9 months ago (1 children)

Making him the owner.

[–] merc@sh.itjust.works 1 points 9 months ago

No, giving him control. He only owns 13.5% of it.

[–] Anticorp@lemmy.world 5 points 9 months ago (1 children)

The owner of a company typically doesn't remove themselves.

[–] merc@sh.itjust.works 0 points 9 months ago (1 children)

He only owns 13.5% of the company.

[–] Anticorp@lemmy.world 3 points 9 months ago

And 57% of the voting shares.