this post was submitted on 21 Mar 2026
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Elon Musk to Owe Estimated $2.1 Billion After Jury Finds He Misled Twitter Investors Before 2022 Buyout (text.npr.org)
submitted 1 day ago* (last edited 1 day ago) by Beep@lemmus.org to c/technology@lemmy.world
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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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[–] mechoman444@lemmy.world 56 points 1 day ago* (last edited 1 day ago) (4 children)

I don't understand why these courts charge a set fine for stuff like this. This is clearly an extremely unique case. The man is 20% shy of being a trillionaire.

What really needs to be done is they need to charge a percentage of his profits. Say 20 to 30%.

[–] ShaggySnacks@lemmy.myserv.one 1 points 55 minutes ago

This idea needs to be fine tuned. The problem is that parasitic oligarchs don’t have a real income.

For those who don’t know, the parasite oligarchs take the vast amount of stock that they own and take it to a bank. The bank gives the parasite a loan with the stock as collateral. Right off the vat, the parasite gets to claim debt on their taxes. The parasite will then take the loan and use it to buy more stock or companies or anything that generates more wealth.

Loan gets paid off with the generated wealth. Due to generous tax loop holes put into place by politicians). The parasite gets to claim that they didn’t make any money and get a tax bill of zero and sometimes a refund.

[–] technocrit@lemmy.dbzer0.com 2 points 2 hours ago

What really needs to be done is they need to charge a percentage of his profits. Say 20 to 30%.

Lol. That's not how the state serves capitalism. Fixed fines!!! Gotta put the burden the poor every time.

[–] Quill7513@slrpnk.net 7 points 22 hours ago

Antonin Scalea capped punative damages

[–] frongt@lemmy.zip 2 points 1 day ago (2 children)

Because that's the law.

[–] monkeyslikebananas2@lemmy.world 21 points 1 day ago

… and the billionaires draft the laws.