BlackRock owns every company, basically, due to their ETFs. One could say "Well, no, BlackRock's investor customers own those shares." Which is of course true. However, the voting rights of those shares gets difficult to really manage, and I think in practice, not a lot of shareholders vote. Which then causes the scenario where the biggest entity on the board is BlackRock, which then causes these companies to treat BlackRock like it is the shareholder, more or less. In practice, they hold incredible sway.

Ian Carroll did an excellent version of what I just wrote above.

https://www.youtube.com/watch?v=HyzXG2pqJ_E

I recommend watching the entire interview. I have a lot of respect for both of these men. But the "BlackRock-as-shareholder" bit (above) is at timestamp 1:17.