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X is left with advertisers pushing dubious cryptocurrency and AI 'undressing' apps, users say after Musk's outburst
(www.businessinsider.com)
this post was submitted on 21 Jan 2024
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he owns Twitter
I though Twitter is publicly traded and has stocks? That would mean that he definitely has a duty towards investors who bought the shares to lead the company in a responsible way, and if he claimed that he destroyed it on purpose, it should lead to a lawsuit from them. But I ain't no lawyer, only vaguely remember hearing something like that. Or does he own 100% of the shares himself and is the sole investor?
It used to be publicly traded, but it went private when he acquired it.
Which doesn't mean he doesn't answer to any investors anymore, of course. He got quite a lot of assistance with that acquisition.
Oh, I see. I guess that means there's basically no-one who can sue him, if there aren't any investors.
As long as he can repay any loans and stuff, then I suppose he can do whatever he wants with the company. If, however, he bancrupts it to the point of not being able to pay back anything the company owes, then he should be in trouble. I hope.