According to Odaily Planet Daily, analysts pointed out that MicroStrategy Executive Chairman Michael Saylor has lost voting control of the company. On October 21, Saylor held 51.7% of the voting rights.
Saylor once maintained majority control through his control of Class B shares, outnumbering Class A shareholders 10-to-1. As the company issued a large amount of stock and debt to purchase Bitcoin, Saylor's voting power is now below 50%.
MicroStrategy recently formed a new board nominating committee, led by Carl J. Rickertsen, and the new nominating committee charter will be announced in a future SEC filing. The company has a market value of $111 billion and holds $31 billion worth of Bitcoin.
