MyNews24 is a user-generated section of The stories here come from users.

An observer
Comments: 3
Article views: 1241
Latest Badges:

View all An observer's badges.

This article has been selected as an Editor’s Choice report. Articles are selected based on quality of writing, audience response, newsworthiness and originality, and is at the discretion of the MyNews24 editors.

Who owns you?

30 July 2012, 12:02
AS PROTESTS against financial power sweep the world, science may have confirmed the worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

The study's assumptions are extremely complex and it took these scientists years of analysis that relied on supercomputers to achieve.

The study revealed that a core of 1318 companies with interlocking ownerships own and benefit from 60% of the entire revenues generated by global economies. The 1318 companies had ties to two or more other companies, and on average they were connected to 20.

When the team further untangled the web of ownership, it found much of it tracked back to a "super-entity" of 147 even more tightly knit companies - all of their ownership was held by other members of the super-entity - that controlled 40 per cent of the total wealth in the network. "In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network," says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.

Identifying and disguising the architecture of global economic power is extremely complex. For instance, if i wished to disguise my controlling interest in Large Corporation A, I could, for instance, establish several corporations in tax free havens, having 49% of the shareholding in each ot these corporations, but overall, I would be a majority shareholder in the Large Corporation A. That is what these scientists set out to achieve. Who realy are the big movers and shakers:

This is not a "conspiracy theory", it is a scientific fact. If you doubt it go look at

There is also a good article in the New Science at

The owners of these vast extremes of wealth should be named and shamed.
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Tyler Dean Smith
Students and what they want and w...

To the students of South Africa that think that they have been wrongly promised the a free education Read more...

0 comments 770 views
Submitted by
Lindie Langa
Fees Must Fall No Coincidence nor...

Let me tell you my dearly beloved fellow country men and women, this whole "fees must fall debacle" is not accidental, neither is it purely political or eocio-economic.  Read more...

0 comments 323 views
Submitted by
Enriko Klopper
The not-so-new game of South Afri...

Clicking through the news and trying to compartmentalise all this information is an exhausting task. Especially if you are attempting to remain as objective as humanly possible. Read more...

0 comments 129 views
Submitted by
Asiza Tait
Jehovah’s Witnesses – Report back...

On the 11 August 2016 I posted up an article regarding the Conventions of Jehovah’s Witnesses on News24 that would be running from September through to October in South Africa.  Read more...

0 comments 393 views
Submitted by
Victor van Heerden
Are the FeesMustFall and Decoloni...

Are the FeesMustFall and Decolonisation adherents anymore credible than the SJW’s?  Read more...

0 comments 224 views
Submitted by
'Big Chief' Zuma suddenly meets e...

Zuma might not have had a normal school education, but he is undoubtedly street-smart. As Nkonto We Sizwe's military strategist.  Read more...

0 comments 525 views


E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

TV Get us in your home, on your television.

Interactive Advertising Bureau
© 2016 All rights reserved.
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.