In this article, I
examine the reintroduction of multiple voting shares (MVS) in German stock
corporation law. I trace their historical development, from widespread use in
the Weimar Republic to their near-total prohibition from 1937 onward. I then
analyse the cautious 2023 reform that lifted the ban, allowing MVS under a
highly restrictive regime. Finally, I argue that while the new rules mark a
significant shift, their practical impact may be limited without further
liberalisation.