How companies owning other companies stock is not fraud?

Examples:

Monster energy is held by -> coca cola which is held by -> berkshire which is held by-> shareholders

So basically if monster goes down so goes coca cola, berkshire and you. Another example:

Blizzard is had -> tencent ownership whis had -> major holders like jp morgan which had shared holders -> you

Isnt this kind of fraud that there are companies that just hold companies that hold other companies?