Does this calculation take into account garbage stocks and securities fraud? Perhaps some of the reduction was the result of regulation favorable to the consumer?
Probably from all the consolidation. In the USA there used to be hundreds of companies supplying various industries. Now there's generally 2-5, and they all have the same shareholders.
BlackRock
Vanguard
State Street
Northern Trust
etc
"Vanguard and BlackRock are the top two owners of Time Warner, Comcast, Disney and News Corp, four of the six media companies that control more than 90% of the U.S. media landscape.
BlackRock and Vanguard form a secret monopoly that own just about everything else you can think of too. In all, they have ownership in 1,600 American firms, which in 2015 had combined revenues of $9.1 trillion. When you add in the third-largest global owner, State Street, their combined ownership encompasses nearly 90% of all S&P 500 firms.
Vanguard is the largest shareholder of BlackRock. Vanguard itself, on the other hand, has a unique structure that makes its ownership more difficult to discern, but many of the oldest, richest families in the world can be linked to Vanguard funds."
Vanguard is mutually held, a rarity these days. Which means that if you own some shares of their SP500 index fund, you own a part of Vanguard, and they work for your benefit. They are as big as they are because they solved the original alignment problem.
Does this calculation take into account garbage stocks and securities fraud? Perhaps some of the reduction was the result of regulation favorable to the consumer?
Probably from all the consolidation. In the USA there used to be hundreds of companies supplying various industries. Now there's generally 2-5, and they all have the same shareholders.
BlackRock
Vanguard
State Street
Northern Trust
etc
"Vanguard and BlackRock are the top two owners of Time Warner, Comcast, Disney and News Corp, four of the six media companies that control more than 90% of the U.S. media landscape.
BlackRock and Vanguard form a secret monopoly that own just about everything else you can think of too. In all, they have ownership in 1,600 American firms, which in 2015 had combined revenues of $9.1 trillion. When you add in the third-largest global owner, State Street, their combined ownership encompasses nearly 90% of all S&P 500 firms.
Vanguard is the largest shareholder of BlackRock. Vanguard itself, on the other hand, has a unique structure that makes its ownership more difficult to discern, but many of the oldest, richest families in the world can be linked to Vanguard funds."
Vanguard is mutually held, a rarity these days. Which means that if you own some shares of their SP500 index fund, you own a part of Vanguard, and they work for your benefit. They are as big as they are because they solved the original alignment problem.