Under that definition, roughly 90 percent of the companies in the world are considered 鈥渃losely held,鈥� according to a 2000 study from Copenhagen Business School. 52 percent of Americans work for a 鈥渃losely held鈥� corporation, according to a study from Columbia University.
The three companies in the Hobby Lobby lawsuit are controlled by single families, but that doesn鈥檛 necessarily mean all 鈥渃losely held鈥� companies are family-owned. The distinction also doesn鈥檛 place any clear boundaries on company size or employee count. Examples of giant yet 鈥渃losely held鈥� companies, noted by Justice Ruth Bader Ginsburg, include candymaker Mars Inc., which has about 72,000 employees and makes about $33 billion in annual revenue, and food processor Cargill Inc., which has over 140,000 employees and made about $137 billion in revenue in 2014.
