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Does that work when you also want to be in control of those companies? All the big CEOs I can think of directly own shares in their own companies.
yes, it does.
They may chose to not (for example, Musk,) but yes it does. And the LLCs offer a lot of other advantages. (like, if you split it into multiple LLCs, they technically have different reporting requirements. So. like. hostile take overs.)
The shares held by LLCs are still voting shares. and since you control the LLC, they vote the way you want. One of the big advantages is location- siting the LLC in someplace that has favorable regulations (maryland,) or tax structures (Florida, texas,) lets you live anywhere you want.
They also provide protection against lawsuits (for example, sachler family and purdue pharma.) and that protection goes both ways, (for example, Ruddie Ghouliani's troubles. they're used to hide assets. a forensic accountant might find it, but not before they get protected.)
But as for privacy; if you were careful setting it up- and hired a service out of maryland to answer the phones as a 'representative'- then all any one would know about the LLC is that number and that rep's office as the adress. (fun fact, there's like two addresses used for like... most... llcs because that service is useful.)