When you invest in an ETF or mutual fund, you’re basically handing your power in decision making to these large institutions.
There’s a reason companies like BP and Exxon don’t divert to renewables, and one of those reasons is because institutions like these own a majority share in these companies, and get to make the decisions to drill as much as possible for that short term revenue.
It makes sense under a capitalist society because if some old fart has their money tied up into a retirement plan, it’s in their institution’s best interest to appease them. They don’t care about long term profits because they’ll be dead before they can reap the benefits! And if that’s the case they’ll take their money elsewhere.
Damn who are these shareholders? Is there a list?
Nearly 92% owned by Institutions
Top 10 Institutions Below
Vanguard | 9.35%
Blackrock | 8.16%
State Street | 5.01%
FMR | 3.31%
JP Morgan | 2.68%
Wellington Management | 2.57%
Capital World Investors | 2.36%
Price (T.Rowe) Associates | 2.35%
Morgan Stanley | 2.35%
Geode Capital Management | 2.19%
When you invest in an ETF or mutual fund, you’re basically handing your power in decision making to these large institutions.
There’s a reason companies like BP and Exxon don’t divert to renewables, and one of those reasons is because institutions like these own a majority share in these companies, and get to make the decisions to drill as much as possible for that short term revenue.
It makes sense under a capitalist society because if some old fart has their money tied up into a retirement plan, it’s in their institution’s best interest to appease them. They don’t care about long term profits because they’ll be dead before they can reap the benefits! And if that’s the case they’ll take their money elsewhere.
This very clear representation of the dictatorship of finance capital, most if not all publicly traded companies are structured this way.