this post was submitted on 21 Mar 2026
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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.

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[–] brownsugga@lemmy.world 15 points 1 day ago (2 children)

Oh No, point 2 % of his net worth

0.2%

literally less than a traffic ticket in terms of scale

[–] sunbeam60@feddit.uk 7 points 1 day ago* (last edited 1 day ago) (5 children)

I mean I dislike the guy as much as you, but almost all of his “wealth” is paper wealth. He may very well not be able to liquidate 2% of his wealth (fine with me).

[–] iglou@programming.dev 15 points 1 day ago (1 children)

He doesn't have to liquidate shit, none of them do. They borrow against their holdings.

[–] sunbeam60@feddit.uk 0 points 1 day ago

Yes of course. But a lot of it ain’t vested and so the terms may not be great or downright unpalatable.

[–] phoenixz@lemmy.ca 6 points 1 day ago

Point is that if I commit fraud or steal anything over 10 dollars I might go to jail

This guy lies steals and cheats by the billions and he gets a hug

Jail the motherfucker already

[–] brownsugga@lemmy.world 1 points 1 day ago
[–] SCmSTR@lemmy.blahaj.zone 1 points 1 day ago

Reminds me of the same defense some people make in divorce court

[–] SaveTheTuaHawk@lemmy.ca -2 points 1 day ago* (last edited 1 day ago)

Paper wealth and theoretical wealth, he will have to borrow that $2B using paper value as collateral.

[–] drislands@lemmy.world 2 points 1 day ago (1 children)

...is Musk worth a trillion dollars now?

I mean, financially, yeah I think so. Which is ironic, since as a person he's worth about as much as a large turd in a small bag.