The real shareholders?
24 November 1999
There are many thousands of people and institutions who own Ford trading shares, but trading shares are not controlling shares.
Only voting shares tell you who are the real owners of Ford, and who are the real shareholders.
In 1936 Henry Ford set up the Ford Foundation a profitable charity, founded to avoid paying taxes. In simple terms: give away £10 to a worthy cause and save £90 for yourself. Wouldnt we all like to dodge taxes like that?
From that point on the major wealth of the Ford family was channelled through the Ford Foundation.
The Ford Foundation holds 3.5 million voting shares in Fords. The Pierpoint Morgan family, one of Americas leading banking families holds 1.5 million voting shares. They have similar interests in General Motors and Chryslers, so they dont lose by any competition.
Jack Nasser and other top executives of the Ford Motor Company own between 10,000 and 1,000 voting shares each, meaning they have only token control in the company. This is not to be confused with the millions of trading shares they are rewarded with together with their bloated salaries etc.But even top employees have no real say in the Ford Motor Company.