this post was submitted on 22 May 2026
131 points (97.8% liked)
Technology
84847 readers
4709 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
He's not been spending his money, he's been spending vc and govt contract money. And the VC money is drying up, that's why he's opened it up to IPO.
How will that enable his stay in power? I have no clue how stuff like this works.
He will own around 80% of the shares, so he'll have plenty to sell off to enrich himself or use to borrow against down to 50.01% and he maintains control. So he gets a huge influx of cash from the ipo to use and he gains a wider calculation of wealth headed towards being the first trillionaire. This will absolutely put him over the edge into that status.