4 ms·
This is only kind of true. Much of the > 50% of shares that are owned by employees are owned by executives and former executives. Think about how equity is dist
by karmacondon 12y ago
This is only kind of true. Much of the > 50% of shares that are owned by employees are owned by executives and former executives. Think about how equity is distributed at any startup. The average "worker" still doesn't own the means of production or capital. Definitely not by Marx's definition of ownership, and not by the common usage of the term in our day either.
Points for political snark, though.
- jevgeni 12y agoI think this is dependent on the age of the company. Last one I've looked at was SocGen - an old French bank. 90% of their shares are owned by employees and I think somewhere around 7% by executives. I can easily imagine that a just IPO'ed company would have a vastly different shareholder structure, though.
- mikeyouse 12y agoI just Googled SocGen's ownership and it looks like the employees own more like 7.5% of the company, and I'm assuming there's a power law in place where the C-Level execs own a vast majority of that bit too.. http://www.societegenerale.com/en/measuring-our-performance/information-and-publications/share-capital http://www.societegenerale.com/en/measuring-our-performance/...
- jevgeni 12y agoWell, I'm clearly misinformed. I thought that maybe my source meant the relative size of non-public shares, but even then it's ca. 49% employee ownership. Yeah, sorry for that. I stand corrected.