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Sergey and Larry hold a controlling stake because there is a dual class of Common stock where the Founders' stock has 10x the voting power per share compared to
by andrewparker 17y ago
Sergey and Larry hold a controlling stake because there is a dual class of Common stock where the Founders' stock has 10x the voting power per share compared to normal Common stock.
Sergey and Larry have something like 30% of the equity combined but held 85% of the voting power.
- JoeAltmaier 17y agoDoes "fiduciary responsibility" mean "represent the voting stockholders" or "represent all the stockholders"? I believe the latter. Which puts executives in a bind when those two populations differ.
- daniel-cussen 17y agoI believe by "voting power" he means the voting power if everyone turned up to vote. That's a shitload a stock, huh?