What is a controlling owner?
A controlling owner is a shareholder with decisive influence over a company. Control does not necessarily mean owning more than half the capital — it can be achieved through a voting majority, shares with higher voting power (class A shares) or agreements with other owners. In unlisted companies, a clear controlling owner is common, often the founder.
Control without a capital majority
Through high-voting class A shares, an owner can control the votes despite a smaller share of the capital. A shareholders' agreement can also pool several owners' votes so that together they form a controlling group. It is therefore important to distinguish between capital stake and voting stake.
What it means for you as a minority owner
A strong controlling owner can push through most decisions at the general meeting. As a smaller owner, you then rely on the rules on minority protection and any terms in the shareholders' agreement. Understand the voting structure before you invest.