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
105 comments fedilink hide all child comments
 

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 10 points 1 hour ago (2 children)

Oh No, point 2 % of his net worth

0.2%

literally less than a traffic ticket in terms of scale

[–] drislands@lemmy.world 2 points 46 minutes ago (1 children)

...is Musk worth a trillion dollars now?

[–] Regrettable_incident@lemmy.world 6 points 20 minutes ago

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.

[–] sunbeam60@feddit.uk 6 points 1 hour ago* (last edited 1 hour ago) (4 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 10 points 1 hour ago

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

[–] phoenixz@lemmy.ca 3 points 45 minutes 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

[–] SCmSTR@lemmy.blahaj.zone 1 points 1 hour ago

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

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

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