The 1%ers of business

[JTsyo]

Study of companies that run the world.

When the team further untangled the web of ownership, it found much of it tracked back to a "super-entity" of 147 even more tightly knit companies - all of their ownership was held by other members of the super-entity - that controlled 40 per cent of the total wealth in the network. "In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network," says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.

I found it interesting that these companies held ownership in each other. While mega corporations are not unknown, I was of the thought that they were controlled by different groups that compete against each other.

 

[dank69]

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[Lithium381]

it's basically a giant orgy