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01/21/2021

Liberty Pulse

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Citigroup and the Zimbabwe Ben school of capital structures

1 min read

Citigroup and the Zimbabwe Ben school of capital structures

Yesterday, Citigroup issued 6.5 billion new shares. That brings the total shares outstanding to around 29.4 billion.

Citigroup’s total shares outstanding at the end of last year? 5.45 billion. That’s right: Citigroup printed more shares yesterday alone than there were in the entire company at the end of last year. And every share you held last year now represents less than 1/5 as much ownership now as it did then.

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