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Giving Mark Zuckerberg Unquestioned Power Was Asking For Trouble


 “One-share, one vote” enshrines corporate accountability, but the vital principle has become unfashionable in recent years. While family-owned businesses and media companies have long had dual-share structures, unequal voting rights really took off with the Google IPO in 2004.Last year, almost a third of the US’s IPOs had dual-class shares, according to Jay Ritter at the University of Florida. The list includes Robinhood Markets Inc., whose ambition to democratize share trading didn’t apply to its own stock. Like Zuckerberg, Robinhood’s founders own a of the share capital but a of the voting rights. 


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