If the largest shareholder had 50.0001% of the shares, they’d be untouchable. No matter what, as long as they can vote they can get their way even if every othe

If the largest shareholder had 50.0001% of the shares, they’d be untouchable. No matter what, as long as they can vote they can get their way even if every other shareholder wants ‘em out. If the largest shareholder (let’s say Frank) has 5% of the shares it’s possible to overrule them. You just need enough people to band with you that your collective shares outnumber the collective shares of Frank and others who will vote with him. I should also note that this only matters for voting shares. I can own 97% of Microsoft shares and if I don’t have any voting shares I get as much direct say as my dog.