Why Facebook’s Share Plan Should Alarm Pensions and SWFs


Social networking giant Facebook is seeking to issue a new class of shares in a bid to permit its founder Mark Zuckerberg the ability to maintain greater control. Zuckerberg is keen on creating a new class of stock with no voting rights, a practice that many U.S. pensions frown upon. For example, the California Public Employees’ Retirement System (CalPERS) has taken an active approach to influence corporate governance globally chastising firms that embrace dual-class and multi-class share structures. The concept of “one share, one vote” resonates with these types of public pension funds.

Norway’s Sovereign Wealth Fund

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute

institutional investor investment mandates