Does the US government still own GM?
No. The U.S. government no longer owns General Motors. It sold its remaining GM shares in December 2013, ending the government's ownership stake from the 2008-09 bailout. GM is now a publicly traded company owned by private investors, with no ongoing government ownership or control tied to the bailout.
Background: the 2008-09 bailout and GM's bankruptcy
The 2008-09 financial crisis prompted a government-backed rescue of the auto industry. General Motors received financial support, including loans and an equity stake, as part of a broader restructuring designed to preserve jobs and prevent a broader economic fallout. GM filed for Chapter 11 bankruptcy in 2009 and restructured under government oversight before returning to private ownership through market trading.
Timeline of government involvement
Key milestones in the U.S. government's involvement with GM:
- June 2009: The U.S. Treasury takes a majority stake in GM as part of the restructuring (roughly 60–61%).
- November 2010: GM conducts its initial public offering, reducing the government's stake while making GM a publicly traded company again.
- December 2013: The Treasury completes the sale of its remaining GM shares, ending government ownership of the company.
In summary, the period of government ownership ended with the 2013 exit, and GM has returned to private ownership by public investors, with governance led by its board and management.
Current status and taxpayer implications
Today, GM is governed by a conventional corporate structure, listed on the New York Stock Exchange under the ticker GM, and owned by a broad base of private investors. The government does not retain any stake or control, and the bailout is a closed chapter in U.S. economic policy debates. The financial impact on taxpayers has been debated; the exit recovered some funds, but analysts point to an overall loss relative to the original investment.
GM governance today
GM operates under standard corporate governance, with a board of directors and executive leadership; there are no government seats or veto rights related to the 2008-09 bailout; oversight was concluded with the 2013 exit.
Summary
In the end, the US government does not own General Motors. The stake held during the bailout period was fully divested in December 2013, and GM remains a publicly traded company governed by private investors and its own leadership. The episode continues to influence discussions about government intervention in industry, but there is no ongoing government ownership today.
Is GM still owned by the government?
In the past, the U.S. government was a majority shareholder in the company (after the 2008 bailouts). However, in 2010 GM broke free from the government's yoke and was reborn in its current incarnation. Today, the top three individual GM shareholders are Mary Barra, Mark Reuss and Dan Ammann.
Does GM still owe the government money?
KANSAS CITY, KANSAS – General Motors Company Chairman and CEO Ed Whitacre today announced that GM has made its final payment of $5.8 billion to the U.S. Treasury and Export Development Canada, paying back its government loans in full, ahead of schedule.
Is GM still American owned?
Yes, General Motors (GM) is still an American company, headquartered in Detroit, Michigan. Although it is a publicly traded company and therefore owned by its shareholders, its roots and corporate identity remain American. It is important to note that it is a multinational corporation with significant international operations.
- Publicly owned: As a public company, GM is owned by its shareholders, not a single individual or entity.
- American roots: GM was founded in Detroit, Michigan, and maintains its global headquarters there.
- Global operations: The company has a worldwide presence with manufacturing facilities and operations in many countries, but its headquarters and core identity are American.
Who is the biggest shareholder of General Motors?
Largest shareholders include Vanguard Group Inc, BlackRock, Inc., State Street Corp, Franklin Resources Inc, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, Geode Capital Management, Llc, VIMSX - Vanguard Mid-Cap Index Fund Investor Shares, Harris ...
