A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter’s stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not “scheme” to mislead investors.
For the rest of us, there would be a seizure of assets and a prison term.
It should be % based of his income. Otherwise it’s not a punishment
So the public paid to see another billionaire do things nobody else can do and get away with it. Nice.
Spoiler alert: he won’t pay or admit any wrongdoing.
admit any wrongdoing.
So, the Trump school of leadership.
This has really spread these days, including living in filter bubbles.
I think he can cut you a check for that in the court room.
He’s made billions more after and because of it so he doesn’t give a shit about a meaningless, billion dollar fine.
It’s an ego thing, he’ll hire a bunch of really expensive lawyers and drag it out as long as he can. This is what the rich do.
That’s a power thing. Avoiding accountability to the rule of law.
if you drag it out, a billion dollar fine becomes a million real fast
If the punishment is a fine, it’s only illegal for poor people.
The only war is class war.
Considering he’s made $400B since acquiring Twitter, this was just a minor cost of doing business.
Considering he’s made $400B since acquiring Twitter…
Serious question: How?
AFAIK, Twitter wasn’t terribly profitable before they sold to Musk. Then after he purchased it, the enshittification accelerated.
How on earth does this result in $400 Billions in profit?!?
He made $400B, not Twitter. That’s almost entirely from Tesla and other ventures, not Twitter.
Last I’ve been able to find Twitter was valued at $33B when xAI bought it. But that was clearly an overvalued sale. Just look at the valuation over time.
And that’s just raw valuation which is easily manipulated, not revenue or profit, which can be easily manipulated.
that is the worst chart
Ahh, okay. I understand. Thank you for the clarification.
This is an ATM fee
Best find a different ATM.
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Not necessarily, the fine just needs to be a sufficient size.
Wake me when that happens.
Sanka, ya dead?
Fines are not assessed that way.
Some are, but they often have maximum caps.
So for a UK speeding fine he’d get a £1000, but if it’s wasn’t capped it would be somewhere in the region of 340 million.
Your Speeding Offence Details
Speed Limit: 30 mph Recorded Speed: 35 mph Excess Speed: 5 mph Offence Band: A Road Type: Standard Road What This Means For You
Your offence falls into Band A, which carries a fine of 50% of your weekly income. Based on your weekly income of £640,000,000, your calculated fine is £320,000,000. This has been capped at the maximum of £1000 for standard road offences.
Why would any such fines be capped, unless the entire point is to effectively legalise crime for the ultra rich?
You sound surprised?
More chagrined than anything else. Having dual citizenship with US and UK is like having one foot in the grave and another foot in the toilet sometimes.
…not assessed what way?
Disclaimer: I know you’re probably only trolling, but I’ll answer anyway:
…not assessed in a way to be of sufficient size to not just be considered a cost of doing business. In other words, pricey enough to take away the incentive to not only take away the profit but to also deal a significant blow to the wealth of the richest person on earth.
Percentage of profit accrued from the offense. They are static values.
So that’s like me paying a $20 fine. GOOD JOB
Except he almost certainly won’t be paying anywhere near that amount, if anything.
Right, he’s just not gonna pay. It’s not like they’re gonna go get the money from his bank account. Can you imagine Elon Musk being garnished? Never gonna happen
That’s a fine of $2 out of a total of $800.
I’d speed past cameras if I was running late, and that was the fine.
I wish “massive white color crime” for the expediency that a “Black dude swelling a bit of weed” got.
Idk, swelling the weight of a bag is a dick move and I think it should be punished harshly. /s
- That’s chump change to him.
- He’s not going to pay it anyway.
He’ll pay it, then make it back by lunch.
oh c’mon! didn’t intentionally mislead investors? just accidentally. so they’re saying he’s an idiot?
And now the people he owes will never be broke. They’ll always have that money coming “some day”.
Hope the Saudis treat a fraudster as harshly as a journalist
Can’t wait to see how the system fails to make him account for this, again.
