Nvidia’s (NVDA.O), opens new tab board is preparing to oust CEO Jensen Huang after he had two extramarital affairs, including one with a suspected Chinese spy, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The board is preparing to meet as soon as Wednesday to determine his future, the report added.
Some of the most powerful corporations are effectively dictatorships. Zuckerberg holds controlling interest of Meta. Controlling interest in Alphabet (Google) is held by Page and Brin. Musk dominates his boards. Ellison and Bezos maintain control over Oracle and Amazon, respectively, as overwhelmingly wealthy executive chairmen. After the OpenAI board voted Sam Altman out, which is their right, he staged a coup to keep his job, like a dictator would.
However, most corporations are properly overseen by their boards, including Microsoft and Apple.
More in general, a system where how much money one has dictates how much power one’s vote has with some having millions of times more power than others, isn’t democratic, though the correct word for it is Oligarchy rather than Dictatorship.
There is no such thing as Shareholder Democracy.
People expecting even publicly traded companies to be democratic are probably just blindy following ideas about companies that they were subtly propagandized into believing, rather than having really properly pondered on the subject and formed their own ideas.
Shit floats