I'm speaking in broad termsPainting with broad strokes on the issue of Non voting Shares.
Non voting shares are legal north of the 49th.
Not allowed on the NYSE
Up north companies can restrict the issue of voting shares and control their ownership nominate each voting share to represent x amount of votes and so on.
What it means is (Perhaps) over time the overall direction or business focus of a given company (any) could get tired,lazy,company directors fail to deliver,fall out amongst themselves, any number of scenarios, lack of accountability, buy too many none core assets for which they do not have the management skills.
The power to make the necessary changes and refocus (any) company through the use of voting power if the (voting) shares are held by the incumbents make their involuntary removal impossible.
As they fail/ergo the company so go your non voting shares as selling them becomes difficult.
It's just an hypothetical explanation of what could happen over time. Perhaps some of the original individuals who started the company die! or fall incurably ill if they haven't developed individuals with the same drive capable of taking their place what then?
The future is unknown and the scenario as described above may never play itself out. However there is always the risk it might.
None voting shares are not for me.
C