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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[–] 257 points 6 months ago (41 children)

If the punishment is a fine, it's only illegal for poor people.

The only war is class war.

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  • [–] 115 points 6 months ago (21 children)

    Considering he’s made $400B since acquiring Twitter, this was just a minor cost of doing business.

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  • [–] 57 points 6 months ago (6 children)
  • [–] 15 points 6 months ago (10 children)

    Considering he’s made $400B since acquiring Twitter...

    Serious question: How?

    AFAIK, Twitter wasn't terribly profitable before they sold to Musk. Then after he purchased it, the enshittification accelerated.

    How on earth does this result in $400 Billions in profit?!?

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  • [–] 28 points 6 months ago* (2 children)

    He made $400B, not Twitter. That's almost entirely from Tesla and other ventures, not Twitter.

    Last I've been able to find Twitter was valued at $33B when xAI bought it. But that was clearly an overvalued sale. Just look at the valuation over time.

    And that's just raw valuation which is easily manipulated, not revenue or profit, which can be easily manipulated.

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  • [–] 5 points 6 months ago (5 children)

    It's not real money, and Musk isn't the richest person in truth, not by a long shot. This is theoretical money based on overpriced companies that are propped up by what I suspect are some rather shady practices and investors using it as a casino stock.

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  • [–] 7 points 6 months ago (18 children)

    Not necessarily, the fine just needs to be a sufficient size.

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  • [–] 107 points 6 months ago (2 children)

    So that's like me paying a $20 fine. GOOD JOB

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  • [–] 76 points 6 months ago (2 children)

    For the rest of us, there would be a seizure of assets and a prison term.

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    [–] 59 points 6 months ago* (last edited 6 months ago) (7 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%.

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    [–] 52 points 6 months ago

    That's a fine of $2 out of a total of $800.

    I'd speed past cameras if I was running late, and that was the fine.

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  • [–] 46 points 6 months ago (2 children)

    Spoiler alert: he won’t pay or admit any wrongdoing.

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  • [–] 38 points 6 months ago (2 children)

    I wish “massive white color crime” for the expediency that a “Black dude swelling a bit of weed” got.

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    [–] 30 points 6 months ago (6 children)

    It should be % based of his income. Otherwise it’s not a punishment 

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    [–] 28 points 6 months ago (4 children)

    He's made billions more after and because of it so he doesn't give a shit about a meaningless, billion dollar fine.

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  • [–] 13 points 6 months ago (3 children)

    It's an ego thing, he'll hire a bunch of really expensive lawyers and drag it out as long as he can. This is what the rich do.

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  • [–] 26 points 6 months ago

    That is the price of new phone for him compared to us...

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  • [–] 24 points 6 months ago

    That's it, again?

    JAIL TIME!

    If I steal a bread to feed my hungry children I'll go to jail, but this guy ficks around with billions and all he gets is a tiny slap on his fingers?

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  • [+] 22 points 6 months ago* (last edited 5 months ago) (3 children)
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    [–] 18 points 6 months ago (1 child)

    Cool, so when this reaches Appeals court (which is where it's absolutely going next because they'll definitely appeal it), that 2.1B$ fine will get knocked down to 10$ and a blowjob (for Elon).

    But hey, the Washington Post or whatever can get a nice little headline out of it where they pretend billionaires face any sort of punishment in this Capitalist hellscape for 5 seconds so that's nice.

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    [–] 17 points 6 months ago

    Drop in a bucket. He should be fined of the money he paid to buy Twitter.

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  • [–] 17 points 6 months ago

    So the public paid to see another billionaire do things nobody else can do and get away with it. Nice.

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  • [–] 16 points 6 months ago (9 children)

    Oh No, point 2 % of his net worth

    0.2%

    literally less than a traffic ticket in terms of scale

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  • [–] 7 points 6 months ago* (6 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).

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  • [–] 6 points 6 months 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

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    [–] 14 points 6 months ago* (1 child)

    I wasn't invested in Twitter, but when I heard he was trying to get out of it I bought some stock. I knew he couldn't get out of the deal because it doesn't work like that and he's a dumb ass.

    My only regret was not buying more. Thanks for the money, idiot.

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    [–] 12 points 6 months ago (1 child)
    1. That’s chump change to him.
    2. He’s not going to pay it anyway.
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    [–] 7 points 6 months ago

    He'll have it back in a month...

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  • [–] 7 points 6 months ago

    They should repossess it and place it in the hands of a responsible steward...

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  • [–] 6 points 6 months ago

    I think he can cut you a check for that in the court room.

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