>An activist shareholder is a shareholder who uses an equity stake in a corporation to put pressure on its management

Would you be surprised to learn that there are shareholder groups that use their equity claims to pursue environmental, DEI or other goals that benefit society?

>Not all shareholders are greedy. But overwhelmingly they are.

Not even close. The vast majority of shareholders own stock through ETFs and pay no attention to the finances (or politics) of the companies they own.

The fiduciary rule is to prevent executives from running the company in their interest, as opposed to the interests of the silent shareholders who actually own the company.