International organizations exploit ultimate beneficial owner policies in different countries to shield bad actors

Activist investors use large ownership positions to influence companies

By holding large ownership positions, which often come with leveraged access to a company's board or the ability to force a shareholder vote, activist shareholders can change a company's corporate governance, leadership, and overall direction. Critics argue that activist shareholders hurt companies in the long term by prioritizing short-term higher shareholder returns over sustainability and growth efforts.

In the UK, foreign sovereign wealth funds can claim diplomatic immunity

In 2025, a court in London found that sovereign wealth funds and their executives can claim diplomatic immunity in legal cases, given the funds' foreign ownership and their role in the private sector. The ruling furthered speculation about the ethics of these funds, particularly from countries accused of human rights violations.

Anti-money laundering laws forcing banks to report data have become important foreign policy tools

Since the Bank Secrecy Act of 1970, which required banks to report transactions exceeding $10K and keep records on customers, anti-money laundering laws have become an important proxy for American foreign policy initiatives. Increased regulation via financial institutions helps curb drug and human trafficking, as well as destabilize the financial infrastructure for terrorist organizations.

The United States currently ranks number one for countries that enable the most financial secrecy

Financial secrecy refers to complex systems that make it easy for people and companies to hide assets. High levels of financial secrecy are associated with illegal activity, like drug trafficking and money laundering. Lax regulations around reporting who owns trusts, real estate, and businesses impact the United States' global financial secrecy ranking.

Both individuals and businesses can establish trusts

Business trusts can allow trustees to manage a beneficiary’s stake in a business, and more. There are many different specific types of business trusts.

Ozempic parent company Novo Nordisk operates under a 'foundation ownership model'—meaning that a foundation holds the majority of the company's voting power, while most of its equity is owned by public investors.

More than half of today's family offices—the private companies that help ultrawealthy individuals manage their fortunes—were incorporated after 2010.

Because of their size, sovereign wealth funds create anxiety about foreign undermining of financial systems

Across the board, sovereign wealth funds have an immense amount of capital, and, therefore, influence in global financial markets. Critics argue that this influence could enable a foreign country to harm another country's financial market by either investing adversely in competitive markets or by withholding critical capital.

Decentralized autonomous organizations organize on the blockchain

Decentralized autonomous organizations (DAOs) are typically formed with a specific goal in mind. ConstitutionDAO, for instance, was made to raise funds to buy a copy of the US Constitution (it failed).

Should companies be owned by their workers?

In the last half-century, so-called private equity has transformed industries by purchasing private companies, cutting costs, loading up debt, and then selling the business at a premium—all at a huge profit to the investors. Workers, on the other hand, are often left with nothing. Listen to how both pro-worker economists and a private equity stalwart are trying to shift ownership to workers—a growing tactic proven to improve worker satisfaction and company value.

UNOS oversees the entire US organ donation system

The United Network for Organ Sharing is a private, nonprofit organization that manages much of the US organ donation and transplantation system under a federal contract. Medical urgency, blood type, organ size, and geography of the donor and recipient are all factors determining how someone who needs an organ is matched with someone who donated an organ.

Special-purpose acquisition companies let companies skirt the IPO process

A video explains how private companies have taken advantage of this loophole, why investing in these companies isn’t always a good idea, and how blank-check companies (as they’re commonly called) work.

View the ecosystem of global services, organizations, and agencies behind the internet

Through an open, transparent, and collaborative model built on open standards development and shared global ownership, the internet is kept freely accessible amid evolving international policies. Key organizations, such as IANA, which allocates IP addresses and fulfills administrative functions for the Domain Name System, function as non-profit organizations.

College endowments FAQ

​The National Association of College and University Business Officers (NACUBO) is a membership organization representing chief administrative and financial officers at colleges and universities. This page addresses 10 common questions about college endowments, including their purposes, management, and spending policies. Learn more about how endowments support institutional missions and financial sustainability.

Private equity firms often use leveraged buyouts to acquire new companies

In a leveraged buyout or "LBO," private equity funds finance acquisitions with debt secured by the target company's assets and cash flows. The PE firm aims to improve operations and leverage the company's profile to pay down debt, thereby increasing equity value.

Trusts are estate planning tools

They’re used as a way to designate assets to beneficiaries while skirting certain taxes and maintaining one’s privacy. They can hold a wide range of assets, including cash, real estate, stocks, businesses, and more.

Family CEOs tend to prioritize a non-economic goal: keeping the business in the family

Companies led by family CEOs tend to prioritize corporate social responsibility, but they also tend to invest less in innovation and international growth. They also have more debt on average.

More than half of family offices have succession plans in place

The UBS annual report on family offices found that its clients are preparing for trade wars, generative AI, and generational wealth transfers.

How Anthropic's experimental corporate structure incentivizes safe AI development

As Anthropic is a public benefit corporation, its board is tasked with making sure that AI tools are developed to help people and society thrive. Members of its Long Term Benefit Trust hold no equity in the company, but make up a majority of the board and can act to maintain Anthropic's public benefit purpose.

OPEC often intervenes to influence the price of oil

This guide explains how investing in oil works with in-depth explanations of each of the forces that control oil’s price. Oil is unique as a commodity in part because of OPEC’s role in regulating its price.

Critics argue that the World Bank, IMF, and WTO were designed to serve Western interests

Some analysts from developing nations argue that the Bretton Woods institutions were designed to reinforce Western economic dominance rather than to promote fair development for poorer countries. Supporters respond that these institutions have improved living standards worldwide.

In a trust, the trustee is often the same person as the beneficiary

While a trustee is supposed to be a neutral third party whom the grantor appoints to manage their trust, they can be (and often are) the same person as the beneficiary. While that seems counterintuitive, trustees have a legal obligation to manage assets impartially and in the trust’s best interest.

Private equity firms can be 'powerful partners' or 'formidable competitors'

Under the best circumstances, PE firms can increase a company's value using strategies that might not be suitable for public companies facing pressure for immediate shareholder returns. But PE firms are often portrayed negatively due to the aggressive strategies they sometimes use to cut inefficiencies. As PE has grown, many firms have changed their strategies, shifting away from aggressive scaling to more integrated acquisitions.

Tech giants like SpaceX and Meta are increasingly behaving like sovereign powers

Companies now make unilateral decisions once reserved for nation-states, such as controlling satellite internet access in active war zones and influencing global information flows. Lawmakers and the international order are struggling to keep up with technological developments, let alone regulate them.

Financial institutions use 'Know Your Client' standards to prevent money laundering

KYC standards include verifying customers' identities and conducting regular account checks for high-risk clients to avoid money laundering schemes. These standards obligate banks to report suspicious customers and activity.

Modern antitrust law was created to combat the Standard Oil Trust

John D. Rockefeller's Standard Oil Trust enabled him to evade laws against a single corporation buying stock in another. His centralized board of directors held stock in many different oil companies under his control, allowing Rockefeller to eventually monopolize the oil refining industry. Efforts to regulate and prevent the Standard Oil Trust's monopoly became known as "antitrust" laws.

Companies go public via an initial public offering (IPO) to raise large amounts of capital, helping them expand, invest in new ventures, hire more staff, or pay off debts.

Family offices have been increasing their allocations to private credit

Private firms that manage family fortunes have been investing more in alternatives like venture capital and real estate, impacting the wider financial world.

Norway operates the largest SWF in the world—managing more than $2T in assets

The fund is considered the gold standard SWF because of its transparency around investments, politically independent governance, and strong ethical boundaries that serve as the backbone of the investment philosophy. For example, fund managers will not invest in coal, tobacco, or nuclear weapons, because these investments are considered harmful to humanity.

The World Bank, IMF, and WTO all face calls for structural reform

Researchers argue that all three major institutions face legitimacy and effectiveness challenges, including outdated governance structures, unequal voting power, and difficulty adapting to a more multipolar world.

Why deep-sea mining companies may begin extraction without global guidelines

International Seabed Authority negotiators have spent over a decade drafting regulations that all countries would have to follow before collecting minerals from the seabed. Because deadlines to finalize these agreements have been missed, some entities have discussed unsanctioned mining, despite about three dozen ISA countries calling for a pause on activity and automakers and tech firms pledging they will not use seabed minerals.

The responsibilities of family offices range from managing assets to coordinating travel

Family offices provide a broad swath of services to ultra-high-net-worth individuals that help the family maintain their wealth for generations.

Companies often use different share classes, like Class A or Class B, to structure ownership

Share classes refer to specific types of company stock that are distinguished by the rights they grant, such as voting power and dividend access.

One of Warren Buffett’s investing principles is investing in well-managed companies

The "Founders" podcast reviews biographies of the world’s top entrepreneurs, and this episode explores a 2012 book about Warren Buffett. The episode includes Buffett's advice on becoming a better business manager and investor.

An overview of monopolies, when one company controls an entire market

In the business world, a monopoly exists when one company controls the entire market. Regulators take issue with monopolies because they have been found to limit consumer choices, raise prices, and hurt competition.

Market concentration and high markups don't always signal a monopoly

When regulators and economists evaluate whether a company constitutes an illegal monopoly, they often consider its overall market share or its relatively high price markups. This piece argues that the Olley-Pakes decomposition is a better measure, identifying whether customers within a market are switching to more productive companies.

Citizens United extended First Amendment protections to corporate political spending

The Supreme Court's 2010 decision struck down limits on independent political expenditures by corporations and other organizations, ruling that such spending is protected speech—a decision that was deeply contested and reshaped campaign finance law.

Who owns outer space?

More and more material ends up in Earth's orbit, posing threats to orbiting space stations and satellites. A 1960s treaty technically made space the common property of humankind, but with increasing chances of conflict in space, things can seem anarchic. This video breaks down the brewing tensions in space.

Citizens United v. Federal Election Commission allowed unlimited independent spending in US elections

The 2010 Supreme Court ruling allowed corporations and other outside groups to spend unlimited money on elections independently of candidates—while leaving direct contribution limits intact—expanding the role of wealthy donors and outside influence in American political campaigns.

There are 6 primary governing bodies at the UN

The United Nations is structured around six main bodies: the General Assembly, Security Council, Economic and Social Council, Trusteeship Council, International Court of Justice, and Secretariat. Each plays a distinct role in promoting peace, justice, and cooperation worldwide.

Dual-class stock structures separate equity and decision-making authority

In the past few decades, dual-class stock structures have become an increasingly popular way for companies to raise capital in public markets without allocating traditional shareholder voting rights. Meta, Estée Lauder, and The New York Times are companies that are famously dual-class.

Trusts offer ways to reduce the taxes beneficiaries pay on assets in one’s estate

People of different socioeconomic classes often decide to establish a trust to avoid certain taxes. When someone dies and leaves assets to beneficiaries in a will, those beneficiaries must pay specific taxes a trust's beneficiaries avoid. It all depends on the type of trust.

Written by 26 sovereign wealth funds in 2008, the 'Santiago Principles' provide generally accepted principles for fund management and governance

Sovereign wealth funds are not regulated, but many of the funds voluntarily follow the Santiago Principles (though, to a varying extent). Some of the principles include transparent financial objectives, clear accountability structures, regular performance reviews, and annual auditing.

Nearly half of billionaires planned to increase exposure to direct private equity investments in 2026.

Certain trusts can bypass estate taxes—but the terms can't be changed

Putting money and other financial assets in an irrevocable trust is one way to avoid estate taxes. There are some cons to this trust, like the fact that you can't change the terms of the trust or assets in the trust after they're set. But a big pro is that any financial assets in an irrevocable trust aren't considered part of your estate, meaning they aren't subject to death taxes.

The dark web can expose anonymous users to potentially dangerous environments

Browsing the dark web requires onion routing, which prevents visitors from being identified and the locations from which they connect from being traced. This has been useful to activists in environments affected by political oppression or instability. However, those unfamiliar with navigating the space may encounter malware and network attacks from denizen hackers.

In 1931-32, JP Morgan Jr. paid no income taxes due to his company’s losses

This legally reduced his taxable income under existing laws. Similarly, the Rockefellers leveraged charitable foundations to minimize taxes, allowing them to preserve wealth while directing funds to their preferred causes.

The international trademark framework is called the Madrid Protocol

Trademarks vary from country to country, but an agreement called the Madrid Protocol allows trademark protections across more than 100 participating countries. While the Madrid Protocol expands trademark access, it doesn't necessarily grant blanket protections across the participating countries, meaning each country is still in charge of its own trademark enforcement.

The majority of the world's sovereign wealth funds are controlled by nations in Asia and the Middle East

Norway operates the world's single largest sovereign wealth fund, but Asian and Middle Eastern countries operate the rest of the top 10 largest SWFs. The Middle East alone accounts for more than $5T of the world's entire sovereign wealth.

Explore a tool that shows how much stake large asset managers, including BlackRock, hold in public companies.