Verizon Communications is not owned by hedge funds. Our data shows that The Vanguard Group, Inc. is the largest shareholder with 8.3% of shares outstanding. BlackRock, Inc. is the second largest shareholder owning 7.9% of common stock, and State Street Global Advisors, Inc. holds about 4.0% of the company stock.
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It doesn’t surprise me Hans sits on board of a major hedge fund! Several years ago Verizon bought back share of Vodaphone our counterpart in Europe. The CEO of Vodaphone sits on the board of Verizon! It’s a “revolving door syndrome”. The point the initial post was making which may be obvious so many is the influence the top percenters have over average individuals such as myself! They dictate policy and change under the vale or guise of “what’s best for the company”, and in some cases perhaps it is! But, all the while they look out for their personal continued self interest. Getting Richer and staying Rich! Average people scramble around to make ends meets, putting out fires, managing families and daily life while these guys figure out how best to keep from paying to many taxes on their wealth and investing more to continue the upward cycle of accumulation of wealth. It’s madding really but it’s the reality of things in today’s economy and really has changed in centuries if you think about!
The point he’s making is two Companies have a strong enough position to control the votes it needs to push its agenda. They also control shares in the other institutions ie Bank Of America another top shareholder. This industry isn’t even an oligopoly. As Blackrock and Vanguard have a large enough interest in AT&T and T-Mobile as well. They have the least control over T-Mobile. Which explains their rise from the bottom.
Mr. Hans Vestberg (also known as the Swedish Destroyer of Companies) sits on the board at Blackrock. I hope I got those pronounz rite!
The good news is this means that Blackrock might go under too…
Who sits on the board at blackrock smarty pants?
Verizon in 2021 was owned by about 60% institutional investors. Those being BlackRock, Vanguard, others you have named, and more. That leaves about 40% retail investors on a good day for Verizon. Those would comprise of the employees 401k packages, board ownership, retail, worker packages, and more. So from your post you are saying Verizon is an institutionally owned company? Is there a point you are trying to make?