a company whose only job is owning other companies, like a puppeteer who never appears onstage.
means a corporate entity created to hold controlling stakes in other businesses rather than produce goods or services itself.
from the structure crystallized in late 1800s america when new jersey changed its incorporation laws in 1889 to let companies own shares in other companies, birthing trusts that dodged antitrust scrutiny by simply owning competitors instead of merging with them.
berkshire hathaway — owns geico, dairy queen, and 60+ others, run by warren buffett
alphabet inc — created in 2015 just to sit above google
jardine matheson — hong kong conglomerate holding assets since 1832
exor — agnelli family vehicle controlling ferrari and stellantis