1. “Are data subjects investors?” In 1932, in their The Modern Corporation and Private Property, Adolf Berle and Gardiner Means discussed why the management owes fiduciary duties to shareholders. As data subjects do not directly manage firms’ data, there is a problem of accountability of how to ensure that the management use the personal data in the interests of data subjects. As societies have addressed the agency problem for shareholders by granting them a set of shareholder rights, it is time to consider granting suitable rights, if any, to data subjects. This is a paper that critically explores the rightful status of data subjects in the era of data capitalism. We aim to alter the way Corporate America see and treat data subjects by challenging conventional views. It is maintained that data subjects are entitled to claiming that they are investors. In particular, we argue that data subjects' contribution to a firm often meet major objective conditions to be (data) investors as shareholders do meet the conditions to be financial investors. It is time to treat data subjects as data investors.