Investors in the upcoming initial public offering of WeWork's parent, The W...
The We Company will take a financial hit for this decision, as the S&P 500 and some other major indices exclude companies with dual-class shares. On the other hand, many investors have overcome their concerns about founders retaining a tight grip on fast-growing startups, because of fear of missing out on potentially lucrative returns.
“WeWork is pushing the outer bounds of what’s acceptable for a public company,” said Glenn Davis, research director at the Council of Institutional Investors, an investor advocacy group. “The IPO filing indicates that the objective is to preserve incumbent control indefinitely.” “You want someone independent to be in charge of succession planning,” Elson said. “Given the fact it’s a dual-class company, though, it doesn’t really matter because no matter what happens, he and his family remain in control.”
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