The New Capitalists: How Citizen Investors Are Reshaping the Corporate Agenda is a 2006 book by Stephen Davis, Jon Lukomnik and David Pitt-Watson.
[1] It describes the increasing ownership of companies by collective investment schemes representing millions of savers.
They include individuals with retirement savings, life insurance and other direct and indirect equity investments.
[2][3][4][5] The book describes how the existence of millions of beneficial owners changes the nature of company goals, and the meaning of shareholder value.
Fast Company’s review said: "Combine Adam Smith's capitalist self-interest in The Wealth of Nations with Peter Drucker, who predicted the rise of institutional investors repping everyday people, to get The New Capitalists, which says, listen to your investors—or pay the consequences".