Matt Levine’s Money Stuff: Does Zuckerberg Own Too Much Meta?

Programming note: Money Stuff will be off tomorrow, back on Monday.

Who is a company for?

The most interesting theoretical problem in corporate governance today is, if you are the chief executive officer of a public company, should you try to maximize the value of your company’s stock, or should you try to maximize the value of your stockholders’ portfolios? I guess you could do other things too, but the popular model these days is that your job is to maximize shareholder value. One way to maximize value for your shareholders — the traditional way — is to make your ...