Do they though? They do own a lot but sovereign wealth funds do too plus, unlike those AFAICT, one can easily switch from say a Vanguard ETF to whatever other investment vehicle they want in an instant. So yes they have tremendous power, too much, and they contribute to shaping markets worldwide… but it’s also not their actual money and other economical actors do exist.
So I’d argue “own” and “almost everything” is a big exaggerated.
PS: I’m not an economist so that’s just my candid understanding.
Do they though? They do own a lot but sovereign wealth funds do too plus, unlike those AFAICT, one can easily switch from say a Vanguard ETF to whatever other investment vehicle they want in an instant. So yes they have tremendous power, too much, and they contribute to shaping markets worldwide… but it’s also not their actual money and other economical actors do exist.
So I’d argue “own” and “almost everything” is a big exaggerated.
PS: I’m not an economist so that’s just my candid understanding.