You just reinvented a Co-Op.
However, at what level does this get enacted?
Does little Tommy’s summer lawn cutting “business” with his 3 neighbors as customers need an elected board in order to operate?
If I run a business and need a secretary to take care of some mundane things while I do the actual money making part of the business, doors that secretary suddenly get 50% vote over all decisions?
Billionaires are definitely a problem. Corrupt public servants are also a problem. We can admit there is more than one problem.
I don’t think outlawing the existence of stocks fixes things though.