> This sounds extreme, but it’s effectively what happened in the feudal era. Wealthy nobles would support whichever king had the resources to protect them. Only thing I’m doing is replacing “wealthy nobles” with “corporations” — which are essentially “jointly owned” among the entire “nobility” (I.e. the capital class in the West).
75% of the bank is owned by "institutions" like Vanguard, Blackrock, Fidelity, State Street, etc. which are mostly proxies for mutual funds, index funds, and ETF's. The largest individual fund is the Vanguard Total Stock Market Index Fund, followed by a number of other index funds from Vanguard and others.
OK, so let's look at a major US bank, JP Morgan Chase: https://finance.yahoo.com/quote/jpm/holders/
75% of the bank is owned by "institutions" like Vanguard, Blackrock, Fidelity, State Street, etc. which are mostly proxies for mutual funds, index funds, and ETF's. The largest individual fund is the Vanguard Total Stock Market Index Fund, followed by a number of other index funds from Vanguard and others.
Index funds are owned, not just by rich investors, but also by workers with 401(k) and IRA retirement accounts, university endowments, and pension funds. The top ten university endowments account for over $150B (https://www.collegeraptor.com/college-rankings/details/Endow...) while the California Public Employees Retirement System by itself holds even more in public equity alone (https://www.calpers.ca.gov/page/investments/asset-classes/tr...).