Well not quite like that Jeff.

Of course Black Rock & Vanguard own shares IN most of the fortune 500 companies. But they don't own 85% of the Fortune 500 companies. There's a big difference.
Both VANG & BLK offer S&P 500 index funds for folks like us to invest in. In order to do that they have to hold shares of those 505 companies in the SAME PROPORTION that they are represented in the S&P500 index.

Lets take Target for example. Blackrock owns 7.03% of the outstanding shares in Target. Vanguard owns 9.49% It is similar for all the S&P500 index companies. No one or two entities owns 85%. Many mutual funds and individuals own varying percentages of all those companies.


But your point is valid that they can and do dictate behavior of companies by voting for or against corporate proposals or voting to remove board members that they don't agree with.


That is what a shareholder is supposed to do.

HOWEVER ........BLK & VANG are not the owners of those shares..........the folks that buy into those mutual funds are the actual owners and they are the ones who should rightfully be voting their shares.........not the mutual fund managers.

Congress has finally become aware of this and might actually make some changes.........if we could ever keep the government running to do its job.

Target and at least several other chains, donated money to blm and then put lots of signs up in black areas, stating they supported blm, likely in good part to try to prevent blacks from looting and burning their stores. It didn't work.

Keith

Target is a Minneapolis store started by the Dayton family. Mark Dayton was a past governor of MN.

I heard that all this looting is because of climate change.

Good riddance .....tranny lovers !

They can close ours in Peoria