Earlier quoted context omitted.
It's incredibly common, there are probably even more but these are the most asset rich companies. If properly structured even something like a local gym is going to be 6-8 entities. I took multiple entire classes dedicated to corporate structure. Multiple entities are needed to maximize liability protection and tax avoidance purposes.
> If properly structured even something like a local gym is going to be 6-8 entities. Can you explain that? It seems outrageous to me.
It's not true, and people claiming this are just trying to normalize these bizarre weblike corporate structures when in fact they're usually used to make a business law-proof in a way that's very contrary to the intent and purpose of the relevant law.
(If your local gym is structured as 6-8 entities you should probably not go there because you're going to be screwed if you injure yourself.)