A Facebook meme was recently in circulation on the social media where it stated that the American company General Electric is going to be sold off to China for 5.4 billion dollars. The meme then asked the viewers a question stating "Americans are you concerned yet?" The Facebook post was shared by a user named Hal Downing, who posted the meme on December 23, 2020. However, the meme was circulated all over social media and is under the viewer's attention till now. Here is a fact check on whether General Electric was sold to China. Check out how the viewers seem to be reacting based on this rumour.
The American multinational conglomerate company General Electric Company (GE) was founded by Charles A. Coffin, Elihu Thomson, Edwin J. Houston, Thomas Edison, and J. P. Morgan on April 15, 1892. The company is headquartered at Boston, Massachusetts, U.S. H. Lawrence Culp Jr. acts as the Chairman & CEO of the company. The conglomerated deals with a wide range of products from Aircraft engines, Electrical distribution, Software etc.
Since GE was incorporated in 1896, it has been a publicly-traded company which is now traded on the New York Stock Exchange, this is where the investors buy and sell their GE stocks from. The Top 10 owners of General Electric company include stockholders such as T. Rowe Price Associates, Inc., The Vanguard Group, Inc., BlackRock Fund Advisors, SSgA Funds Management, Inc., Fidelity Management & Research Co. LLC, Hotchkis & Wiley Capital Management LLC, Eagle Capital Management LLC, Geode Capital Management LLC, Northern Trust Investments, Inc. and Pzena Investment Management LLC.
According to Google Trends, the maximum number of people to have searched about whether General Electric was sold to China or not was the highest on January 5th. The Facebook meme has been circulated all over the internet as the Trends have skyrocketed in the few days. The current trends show that the people are still talking about the rumour. Check out this graph.