Google owner’s voting rights are valued at less than zero
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:15 p.m. (1:15 p.m.) on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube.
Investors in Google’s owner, Alphabet Inc., would rather not have the right to vote these days. Class A voting shares of the Internet-search site have closed as much as 4.3% lower this month than Class C non-voting stock, according to data compiled by Bloomberg. The discount compares with an average premium of 1.3% since the C shares were introduced in 2014. Both classes are part of the S&P 500 Index. Google’s founders, Larry Page and Sergey Brin, together control more than 50% of Alphabet’s voting rights by owning Class B shares.