Comment by fastball

- I didn't say a single entity, I said "owners". In the case of X there are many owners, Elon Musk with the most power. Nobody who is not an owner controls the company, which is what you would need to demonstrate to invalidate my point.

- A "figurehead" is someone who cannot make meaningful decisions / impact. This does not automatically apply to any CEO who does not having voting power on the board or with shares. You can very clearly run an entire company in a very real way without a single board seat or share. Many CEOs have done it in the past, many will do it in the future. Just like how you can be the manager of an auto-repair shop without owning a bit of it and you're not automatically a "figurehead manager".

- A CEO who owns a majority of preferred shares is in fact the/an "owner" of the company. One owner having more control than another is obviously not the purpose of this conversation. The question is whether a hired CEO without voting power (whether via the board or with shares) is automatically a figurehead. Demonstrating that a CEO can be an owner with more power does not change that, because the question is about CEOs without meaningful ownership. This is obvious to anyone not trying to create a "gotcha".