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For the individual you are correct, which is why companies haven't had much trouble getting people to buy non-voting stock. But for the system as a whole, it's
by mrfredward 6y ago
For the individual you are correct, which is why companies haven't had much trouble getting people to buy non-voting stock.
But for the system as a whole, it's pretty important that the shareholders have the ability to vote for board members who will protect their interests, even if the power doesn't get used very often. That's why the SP committee is pushing back against multiclass shares...if the company's management controls the voting shares then they control the board which is supposed to be overseeing them, removing even a vague threat of accountability in a system that's already far from perfect.