By Grayson Shaw | Published August 4, 2025

In a recent conversation with Stephen Hammond, we dove into a topic that’s been making waves: what companies really own America? Sparked by a Joe Rogan podcast featuring Bernie Sanders, we explored how three Wall Street giants—BlackRock, Vanguard, and State Street—manage over $20 trillion in assets and hold significant influence over major U.S. companies. Beyond finance, we also uncovered how a handful of corporations control 90% of the media Americans consume. As Christians, we discussed what this means for our values and how we can be better stewards of our investments and media consumption.

The Wall Street Powerhouses: BlackRock, Vanguard, and State Street

Bernie Sanders claimed that three companies “own 90% of America.” While this is an oversimplification, there’s truth to the immense influence of BlackRock, Vanguard, and State Street. These asset management firms collectively oversee approximately $27 trillion in assets:

• BlackRock: Managing ~$12 trillion
• Vanguard: Managing ~$10–11 trillion
• State Street: Managing ~$5 trillion

Together, their holdings account for roughly 40% of the market capitalization of the S&P 500, which exceeds $50 trillion in 2025. These firms don’t directly “own” America but manage investments for millions of clients, giving them voting rights in major corporations. They often hold 5–10% of shares in S&P 500 companies, frequently ranking as the top shareholders. This leverage allows them to influence corporate decisions, from board elections to policies, in ways that can shape entire industries.

The Concern for Christian Investors

As Stephen Hammond pointed out, the issue isn’t just the scale of their influence but how it’s used. These firms have a track record of voting in ways that conflict with biblical values, supporting policies that promote agendas like abortion or the sexualization of culture—issues that Bible believing Christians oppose. For example, their proxy voting often pushes corporate policies misaligned with Christian principles, such as family values or sanctity of life.

So, what can Christian investors do? Stephen and I agree: stewardship is key. Avoid letting these firms vote on your behalf by carefully selecting investments that align with your faith. Tools like biblically responsible investing (BRI) screens can help you evaluate whether your portfolio supports companies that reflect your values. You can also contact firms like ours for a free portfolio screening—email us at cvi@nctv.com.

The Media Monopoly: Six Companies Control 90% of What You See

The concentration of power extends beyond Wall Street to the media landscape. In the 1980s, about 50 companies owned America’s media outlets. Today, just six corporations control roughly 90% of what Americans see, hear, and read:

1. Comcast: Owns NBC, Universal, MSNBC, CNBC
2. News Corporation: Owns Fox News, The Wall Street Journal, New York Post
3. The Walt Disney Company: Owns ABC, ESPN
4. Paramount Global: Owns MTV, BET, Paramount Pictures
5. Warner Brothers Discovery: Owns CNN, HBO, Warner Brothers
6. CBS Corporation: Owns CBS Television Network, Showtime, and local affiliates

This consolidation means a small group decides what’s newsworthy, what gets amplified, or what’s ignored. For Christians, this raises concerns about media narratives that may conflict with biblical principles. Our screening shows that most of these media giants fail biblically responsible investing criteria due to content promoting agendas counter to Christian values.

Taking Action: Be a Discerning Steward

As Christians, we’re called to be stewards of not just our finances but also our minds and hearts. Here are actionable steps to align your investments and media consumption with your faith:

1. Screen Your Investments: Use free online tools or consult with advisors to ensure your portfolio aligns with biblical values. Avoid funds where firms like BlackRock or Vanguard vote against your principles.
2. Be Selective with Media: Critically evaluate the news and entertainment you consume. Seek out sources that don’t push agendas misaligned with your faith.
3. Stay Informed: Research the companies you invest in or the media you engage with. Knowledge empowers you to make choices that honor God.
4. Engage with Like-Minded Advisors: Connect with financial advisors who prioritize biblically responsible investing. Reach out to us here for guidance.

Conclusion: Stewarding God’s Resources Wisely

The influence of Wall Street giants like BlackRock, Vanguard, and State Street, alongside the media dominance of six corporations, highlights the need for vigilance. As Christians, we’re called to steward our resources—financial and intellectual—wisely. By choosing investments and media that align with biblical values, we can honor God and stand firm in our faith.

Until next time, may God richly bless you.

Want to learn more about biblically responsible investing? Contact us at grayson@christianvalues.com or visit christianvalues.com for a free portfolio screening.