Burger King

Who owns it

• Restaurant Brands International Inc. (company)100%sec_filing · 2014-12-12

What’s documented

• 2026-12-31politicalDonationCorporate PAC contributed ~$42,500 to federal candidates/committees (2026 cycle).source →
• 2026-01-10lobbyingUnion leaders criticized Telus for receiving lucrative federal and provincial government contracts and subsidies while cutting thousands of jobs; USW and CUPE lobbied the federal government to attach job-preservation conditions to telecom subsidiessource →
• 2026-01-09laborRelationsTelus offered voluntary severance packages to approximately 700 more employees across Canada in January 2026, totaling nearly 1,400 severance offers in under a year; customer complaints to the CCTS rose 62% in 2025 compared to 2024source →
• 2025-11-01otherIn November 2025, 3G Capital offloaded approximately 17.6 million shares of Restaurant Brands International in a $1.2 billion secondary offering, reducing its voting stake to 26%, down from 47% at the time of the 2014 merger that created RBI (parent of Tim Hortons, Burger King, Popeyes, and Firehouse Subs).source →
• 2025-09-12other3G Capital announced May 5, 2025 the acquisition of Skechers in an all-cash deal valuing the footwear company at approximately $9.4 billion ($63.00 per share). The acquisition closed September 12, 2025, and Skechers shares ceased trading on the NYSE.source →
• 2025-08-01regulatoryActionVanguard was ordered to pay a $19.5 million civil penalty by the SEC for disclosure failures related to adviser compensation. Between August 2020 and December 2023, Vanguard tied parts of advisers' performance evaluations and bonuses to client enrollment and retention metrics in its Personal Advisor Services program, while marketing content downplayed or misstated these conflicts of interest.source →
• 2025-05-05otherOn May 5, 2025, 3G Capital announced it would acquire Skechers USA, the third-largest footwear brand globally, in a $9.4 billion all-cash take-private transaction, representing a 30% premium to Skechers' 30-day volume-weighted average price. This is 3G Capital's first major acquisition outside the food and restaurant sectors.source →
• 2025-02-01laborRelationsTelus offered voluntary severance packages to approximately 700 employees nationwide across network operations, engineering, and business solutions, continuing a restructuring that has eliminated roughly 3,300 jobs since 2023source →
• 2025-01-17regulatoryActionVanguard agreed to pay $106.41 million to settle SEC charges for misleading statements about capital gains distributions and tax consequences for retail investors holding Vanguard Investor Target Retirement Funds in taxable accounts. The SEC found Vanguard lowered minimum investment for Institutional TRFs from $100 million to $5 million in December 2020, triggering mass redemptions that generated unexpected taxable capital gains for remaining Investor TRF holders.source →
• 2024-12-31politicalDonationCorporate PAC contributed ~$166,000 to federal candidates/committees (2024 cycle).source →
• 2024-12-31lobbyingVanguard Group spent $2,650,000 on federal lobbying in 2024. The company's PAC made $502,046 in political contributions during the 2024 election cycle, including $382,500 to federal candidates.source →
• 2024-11-01legalProceedingTexas Attorney General Ken Paxton filed a lawsuit in November 2024 against Vanguard Group, BlackRock Inc., and State Street Corporation, alleging the three asset managers conspired through ESG-aligned investment practices and climate coalitions to restrict coal production in violation of federal antitrust law.source →
• 2024-09-01environmentalVanguard supported zero environmental and social shareholder proposals during the 2024 proxy season, including declining to support any of the resolutions flagged by Climate Action 100+ investors. Vanguard also supported none of ten votes against company directors flagged by the initiative. Vanguard stated proposals were either financially immaterial, overly prescriptive, or that the companies receiving them already had adequate governance practices.source →
• 2024-08-12otherA 3G Capital affiliate (HL1 17 LP) reduced its stake in Restaurant Brands International (Tim Hortons, Burger King, Popeyes, Firehouse Subs) through a secondary offering of approximately 17.6 million common shares priced at $65–$68 per share in August 2024, reducing 3G's voting ownership from approximately 26.3% to approximately 22.3%.source →
• 2024-06-01environmentalUrgewald's 2024 'Investing in Climate Chaos' report identified Vanguard as the world's single largest institutional investor in fossil fuels, with approximately $413 billion in fossil fuel company bonds and shares. Vanguard declined to adopt any fossil fuel exclusion policy and consistently voted against climate-related resolutions at portfolio companies.source →
• 2023-12-31other3G Capital sold its remaining 16.1% stake in Kraft Heinz in Q4 2023, fully exiting the merged company nearly nine years after engineering the 2015 Kraft Foods–Heinz merger with Berkshire Hathaway. 3G had progressively trimmed its stake from 2018 onward.source →
• 2023-12-31other3G Capital completely exited its Kraft Heinz investment in Q4 2023 by selling its entire remaining 16.1% stake, ending nearly a decade of involvement with the company following the 2015 Kraft-Heinz merger. The exit, revealed in April 2024 filings, marked the end of 3G's zero-based budgeting experiment at Kraft Heinz following the 2019 $15.4 billion goodwill impairment and ongoing brand value erosion.source →
• 2023-06-01regulatoryActionVanguard was fined $800,000 by the Financial Industry Regulatory Authority (FINRA) for problems with account statements related to money market funds in 2019 and 2020.source →
• 2022-12-31politicalDonationCorporate PAC contributed ~$200,500 to federal candidates/committees (2022 cycle).source →
• 2022-12-07environmentalVanguard announced its withdrawal from the Net Zero Asset Managers (NZAM) initiative in December 2022, stating that membership had caused 'confusion about the views of individual investment firms.' Vanguard cited its index fund model — in which approximately 80% of client assets are invested passively in benchmark indices — as a key factor, and stated it would pursue its climate disclosure positions independently.source →

What we’ve classified so far

• worker exploitation3
• environmental damage3
• political influence2
• monopoly abuse1

16 further documented actions have not been classified yet. These counts show what we have got to, not a total.