I had to fact check this. Turns out it is true. I was not aware on US stock exchange you can have a public company with less than 10% public float.
This also makes the founder net worth of around $33B.
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If you think that is bad, look into the spacex ipo. That tiny public offering is for stock that can barely vote and cannot bring shareholder actions, making them more NFTs than proper "shares" imho.
It's not bad. Great returns, company is extremely well run.
I know about voting shares and shareholder actions in US stock because they are somewhat frequently sited in all press and media. I just didn't know about sub 10% float.
I know there are plenty of ways to go around it via trust funds or other entities to hide it so the ownership could be extremely concenrtated. But having it actually allowed is something I didn't know.