This title, "S&P 500 to exclude Snap after voting rights debate" is wrong. S&P 500 is moving to bar all stocks with multiple classes with different voting rights. Existing stocks in the S&P 500 are grandfathered.

Personally I'm a fan of this. Multiple voting classes seem to be abused. Take the recent Ford case where the Ford family owned a very small percentage of shares, but had an overwhelming share of the voting power. If I understood it correctly it took basically unanimous voting from all other shareholders to remove this imbalance.