In the interview, he actually says BlackRock, State Street and Vanguard own "90% of the stock market".
NB. There are all his statements, not mine!
aren't they the largest shareholders in 90% of companies but actually own maybe 20% of the total stock market? i don't recall the latest number but it should be around that
And they don’t even really own them. They’re just buying them on behalf of investors. That doesn’t sell books though or rile people up.
Yes, there are authors pushing a narrative. But, let's not pretend these institutions are powerless. They often get a board seat; although, some give up their proxy vote and they are pushing an agenda with their ESG score. Unsure how much of it is just optics.
That's a serious exaggeration. Their combined portfolios are maybe $20 trillion. The S&P 500's market cap alone is $40 trillion. They've got huge asset portfolios, yes, but the market is just so much larger.