Thoughts on dual-class stock ownership

Stock ownership is generally broken down (in theory) into two classes: common and preferred. Preferred stock also has typical subclasses like A, B, C, etc. where "A shareholders" have more voting rights per common shareholder.<br><br>The argument for dual-class stock is that it lets companies keep management over their shares. As common shareholders buy into a company, they can potentially buy enough shares to influence the management of a company. I'm thinking companies like Tesla, Facebook/Instagram, Google, and Twitter, where the founders have control over the company.<br><br>The argument against dual-class stock is that it creates inequality between "haves" and "have nots". Common shareholders are largely left without a voice despite the fact that they can collectively own a very vast majority of the shares. They might be stuck with suboptimal management that directs the company in the wrong direction. In the worst case scenario, ownership of a company becomes akin to a dictatorship.<br><br>What are your thoughts on dual-class stock ownership?