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No, you are very incorrect here. I am sorry to say that you fell for some spicy headlines, and there is no evidence to suggest TCI's letter had anything to do w
by aroman 4y ago
No, you are very incorrect here. I am sorry to say that you fell for some spicy headlines, and there is no evidence to suggest TCI's letter had anything to do with this restructing.
TCI has a trivial stake in Google — at most, less than half of one percent of the company[0]. By voting shares, Larry and Sergey alone control >50% voting power[1]. TCI has nowhere near enough influence to move the needle in any appreciable way here.
[0] $6B / $1200B market cap (edit: to clarify, this is an upper limit, in practice it's even less because of super-voting shares owned by the founders)
[1] https://capital.com/alphabet-shareholder-who-owns-most-googl https://capital.com/alphabet-shareholder-who-owns-most-googl
- johntiger1 4y agoYou're mixing up voting shares and Class A common stock
- Retric 4y agoIt’s two different measurements. TCI owns 0.5% of the company but gets less than 0.5% of voting power. Ownership percentage is only important because of how it lets them impact the stock price.
- aroman 4y agoNo, I don't believe I am. Can you clarify what you think I've mixed up? Class A shares (such as TCI have) have regular voting rights. Class B shares (such as Larry and Sergey have) have 10x voting rights. Thus, as I understand it, TCI's voting voting power is at most roughly ~0.5. In practice, it's way less than that due to all the class B shares[0], reinforcing my point. [0] https://capital.com/alphabet-shareholder-who-owns-most-googl https://capital.com/alphabet-shareholder-who-owns-most-googl >GuruFocus data, as of 29 November 2022, revealed that 59.13% of Alphabet’s stock was owned by insiders, including the two founders, while 22.21% of common shares were owned by institutions including brokerage firms, hedge funds, pension funds and asset management companies.