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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[–] sunbeam60@feddit.uk 7 points 3 hours ago* (last edited 3 hours 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 11 points 3 hours ago

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

[–] phoenixz@lemmy.ca 3 points 2 hours 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 3 hours ago

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

[–] SaveTheTuaHawk@lemmy.ca 1 points 3 hours ago* (last edited 3 hours ago)

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