Wanna guess who the 2 largest shareholders of Disney are? Blackrock and Vanguard
(www.investopedia.com)
BOYCOTT
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This gets posted pretty much every day now.
"Top 2 shareholders of <company> are Blackrock and Vanguard"
That's because they are the major mutual fund providers to 401k plans and IRAs. It's people's retirement funds. Those companies are listed as the shareholders, but it's really their mutual funds that own those shares, and the mutual fund shareholders are regular people.
There's probably some really shitty people at the top of Blackrock and Vanguard. At least with Vanguard, I haven't seen any nefarious influence being exerted over the companies they own; they usually just vote however management recommends.
Where do you think the ESG that's driving companies to become woke is coming from?
From Larry Fink, the Blackrock CEO 🤷♂️
Vanguard has an ESG mutual fund, but it just follows an ESG index.