A Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer.
Evergrande has assets of about $245 billion, but owes about $300 billion.
Its demise is a “controlled collapse,” but still raises systemic risk and will hurt investors, says an analyst.
Sorry I was just watching a video that was explaining that most companies are run by a handful of people who basically each represent several of the largest shareholders combined. I suppose I was imagining these people making the actual decisions and hiring the board and pushing the direction of the company and the lobbying efforts as the “investors”.
You’re right I don’t mean we should commit war crimes against grandpa because he has a pension fund lol