• Autisticky [they/them]@hexbear.net
      link
      fedilink
      English
      arrow-up
      6
      arrow-down
      1
      ·
      edit-2
      1 year ago

      Google’s shares are divided into two types, Class A and Class C. Class A shares, traded as GOOGL, confer one vote per share as a typical stock would. Class C shares, traded as GOOG, confers no voting privileges. This dual shares system was done to raise more money selling less useful Class C shares (intended for mutual funds and the like) while keeping control of the company in the hands of those held on to Class A shares (i.e. longtime executives).

        • h3doublehockeysticks [she/her]@hexbear.net
          link
          fedilink
          English
          arrow-up
          4
          ·
          edit-2
          1 year ago

          It’s worse than that, because a company bylaw also gives every GOOG stock a set value of a fraction of a fraction of a fraction of a cent and a binding part of their issuance is the clause that they can demand to buy them back for that price at any time. Google can drop like pocket lint and instantly buy all GOOG stock back.