Snapchat sold the public stock that comes with zero votes.
When Snap Inc. went public in March 2017, every share offered to ordinary investors carried no vote at all — a first in US market history. Founders Evan Spiegel and Bobby Murphy kept 88.5% of voting power through super-voting shares, control they retain even if fired. Within months, the S&P 500 changed its rules to keep companies like Snap out — a ban it kept until 2023.
Snapchat on Brandseum