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This question is about Michelin.
Who owns Michelin?
Michelin Tires is owned by a combination of public shareholders, Michelin family members, and company employees.
Public shareholders own 94% of the French tire company. This is known as a public float and allows the company access to additional revenue introduced by those investing in company stock. The Michelin family owns 4% of the company, while employees retain the other 2%.
The tire company employs over 124,000 people and has 123 production sites in 26 countries, including fifteen manufacturing facilities in the United States. As of 2021, Michelin is the world's largest manufacturer of tires.
The Michelin company produces its namesake brand as well as Uniroyal and Goodrich brand tires. In 2021 the company posted earnings of over $28 billion.
In addition to its dominance in the tire industry, the company is responsible for creating the Michelin guide, used to rate restaurants and hotels around the world. The first guide was published by the Michelin brothers, Edouard and Andre, in 1900 to inform travelers of lodging and auto repair locations in France.
Today a Michelin star can make a restaurant a destination for travelers and foodies.
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