Non-voting stock in a private company is rare, but if the company exits for a value where the liquidation preference of preferred stock doesn't matter, all shar

Non-voting stock in a private company is rare, but if the company exits for a value where the liquidation preference of preferred stock doesn't matter, all shareholders share in the distributions pro rata. So if you own 10% of a company via non-voting stock, you generally own 10% of the economics, you just can't vote on decisions that require a stockholder vote. Of course, the value of 1 non-voting share should have a discount to 1 voting share, but if you own a small stake, there's not much of a difference since your vote doesn't count for much regardless.