The image above is associated with an article that ran in The New York Times on June 29, 2026. Online, the article ran under this headline: "Investors In Public Companies Are Losing Their Voting Rights." That headline doesn't reveal how or why this loss of voting rights has occurred and is occurring.
The hardcopy version of the article has a different headline, and that one does make clear just why investors in public companies are being stripped of the voting rights that have, traditionally, gone along with ownership of shares in a public company. Here's the hardcopy headline: "Tech Moguls Are Limiting Voter Clout Of Investors."
The online headline doesn't assign any responsibility. That hardcopy headline does! Pictured front and center in the picture, above, is Bret Johnsen, the chief financial officer of SpaceX, with the photo taken on the day of the company's "Independent Public Offering," or IPO. Wikipedia identifies Johnsen as "an American billionaire business executive," making him one of the "Moguls" spotlighted by The Times' hardcopy headline.
I think that The Times' article is worth reading. Use the link in the first paragraph of this blog posting to access it. I am told that even non-subscribers should be able to read the whole thing.
In short, what The Times' article is telling us is that it used to be taken for granted that if you invested your money in a company, you became the "owner" of a "share" of the company in which you invested. That's the reality to which the name, "share of stock," refers.
This idea is no longer automatically true. When you invest in a company, you don't, automatically, become one of the "owners" of the company, according to the "share" of the company that is reflected in your financial commitment to it. Here's how it's going now, according to that article in The Times:
One share, one vote.
It’s a longstanding principle of investing in a publicly traded company that means that the number of shares an investor owns is equal to the number of votes he or she can cast on critical issues like mergers and acquisitions, board appointments and executive pay.
SpaceX’s entry in the stock market is the latest challenge to this principle, swelling the ranks of large and influential public companies that give shareholders little say in how they are run.
The arrangement means that even after Mr. Musk’s company sold more than $85 billion in shares in its record-setting initial public offering, he still maintains control. It echoes similar moves by other founder-led technology behemoths like Alphabet, which went public in 2004, when the company was known as Google, and Meta, which went public in 2012 when it was called Facebook. Mr. Musk owns about 40 percent of SpaceX shares but controls over 80 percent of the votes. Mark Zuckerberg, who founded Meta, owns about 13 percent of Meta shares but controls about 60 percent of votes. And Larry Page and Sergey Brin, the founders of Google, together own about 10 percent of Alphabet but control more than 50 percent of votes (emphasis added).
In case you haven't noticed, the "Moguls" want our country to be run on the same principle. "One person, one vote." Do you remember that slogan from our battle to include both women and racial "minorities" in the system of democratic decision-making that we would like to believe operates to provide us with what most people call "democracy"?
Watch out, folks! "Democracy" means "voting." "Self-government" is something that is related, but is actually quite different. Unless we start asserting ourselves politically (and we can, with respect to stock ownership issues, and with respect to issues relating to the power of the voters in general) we are headed into an autocracy of the majestic and magnificent, big-money "moguls" who seem to think that they know better than the rest of us what we all ought to be doing.
If you read my blog with any regularity - and I do encourage that - you have heard this message before!
https://www.nytimes.com/2026/06/25/business/spacex-shares-ipo.html
















