Money | Chrysler UAW to Own 55% of Chrysler By Kevin Spak Posted Apr 28, 2009 8:07 AM CDT Copied From left, UAW family members Mike Green, Rollin Green, and Richard Green pose at the UAW Local 652 in Lansing, Mich., Tuesday, Dec. 2, 2008. (AP Photo/Carlos Osorio) The United Auto Workers are about to own Chrysler. In exchange for a variety of concessions, the union will eventually get a 55% majority share in the automaker, according to a summary of the restructuring deal, which was sent to union leaders late last night and reviewed by the Wall Street Journal. Fiat will eventually own 35% of the stock, with taxpayers and creditors divvying up the remaining 10%. Chrysler will also issue a $4.59 billion note to the union’s health-care trust for retired workers, to be paid off between now and 2023. The fund will own enough Chrysler stock to appoint a representative to the automaker’s board. In a separate deal, Daimler will give up the 19.9% of Chrysler it still owns, ending its relationship with the company. Read These Next White House rolls with Trump's 'daddy' nickname. New Fox star, 23, misses first day after car troubles. Supreme Court ruling is a big blow to Planned Parenthood. Man accused of killing his daughters might be dead. Report an error