Lower fees aside, the rise of index funds has entailed a massive concentration of corporate ownership. Together, BlackRock, Vanguard and State Street have nearly US$11 trillion in assets under management. That’s more than all sovereign wealth funds combined and over three times the global hedge fund industry.
In a recently published paper, our CORPNET research project comprehensively mapped the ownership of the Big Three. We found that the Big Three, taken together, have become the largest shareholder in 40% of all publicly listed firms in the United States.
In the S&P 500 – the benchmark index of America’s largest corporations – the situation is even more extreme. Together, the Big Three are the largest single shareholder in almost 90% of S&P 500 firms, including Apple, Microsoft, ExxonMobil, General Electric and Coca-Cola. This is the index in which most people invest.
Who owns big business: the rise of passive investors (@uvaCORPNET)
VIDEO: https://youtu.be/OYpCxXuF3M8theconversation These three firms own corporate America
The three men that own most of corporate USA by being the CEO’s of the above three huge globalist corporations, are Larry Fink, Joseph Hooley, and Mortimer Buckley.
The CEO’s of these 3 huge corporations that control most of corporate USA also sit on the boards of huge healthcare corporations, so they won’t rock the boat when billionaire healthcare technocrats like Bill Gates come in and order corporations to mask up, isolate, vaccinate, stay home, shut down and/or whatever else is desired.