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submitted 2 weeks ago* (last edited 2 weeks ago) by Beep@lemmus.org to c/technology@lemmy.world

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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[-] Triumph@fedia.io 150 points 2 weeks ago

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

The only war is class war.

[-] cannedtuna@lemmy.world 65 points 2 weeks ago

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

[-] kautau@lemmy.world 34 points 2 weeks ago
[-] bobs_monkey@lemmy.zip 6 points 2 weeks ago

Best find a different ATM.

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[-] LedgeDrop@lemmy.zip 12 points 2 weeks ago

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?!?

[-] halcyoncmdr@piefed.social 19 points 2 weeks ago* (last edited 2 weeks ago)

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.

[-] LedgeDrop@lemmy.zip 4 points 2 weeks ago

Ahh, okay. I understand. Thank you for the clarification.

[-] HeyThisIsntTheYMCA@lemmy.world 3 points 2 weeks ago

that is the worst chart

[-] teyrnon@sh.itjust.works 3 points 2 weeks ago

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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[-] Ulrich@feddit.org 6 points 2 weeks ago

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

[-] Triumph@fedia.io 15 points 2 weeks ago

Wake me when that happens.

[-] bobs_monkey@lemmy.zip 5 points 2 weeks ago

Sanka, ya dead?

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[-] muusemuuse@sh.itjust.works 7 points 2 weeks ago

Fines are not assessed that way.

[-] then_three_more@lemmy.world 4 points 2 weeks ago

Some are, but they often have maximum caps.

So for a UK speeding fine he'd get a £1000, but if it's wasn't capped it would be somewhere in the region of 340 million.

Your Speeding Offence Details

Speed Limit: 30 mph Recorded Speed: 35 mph Excess Speed: 5 mph Offence Band: A Road Type: Standard Road What This Means For You

Your offence falls into Band A, which carries a fine of 50% of your weekly income. Based on your weekly income of £640,000,000, your calculated fine is £320,000,000. This has been capped at the maximum of £1000 for standard road offences.

[-] yakko@feddit.uk 4 points 2 weeks ago

Why would any such fines be capped, unless the entire point is to effectively legalise crime for the ultra rich?

[-] Tanoh@lemmy.world 3 points 2 weeks ago
[-] yakko@feddit.uk 3 points 2 weeks ago

More chagrined than anything else. Having dual citizenship with US and UK is like having one foot in the grave and another foot in the toilet sometimes.

[-] IsoKiero@sopuli.xyz 2 points 2 weeks ago

Finland has similar thing, but it is not capped. There's a ton of 100 000+€ fines given around here. Obviously with Musk it would be a bit different, since the fine is based on actual income, not some imaginary monopoly money on the stock market.

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[-] Mulligrubs@lemmy.world 49 points 2 weeks ago

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

[-] frongt@lemmy.zip 31 points 2 weeks ago

Except he almost certainly won't be paying anywhere near that amount, if anything.

[-] org@lemmy.org 3 points 2 weeks ago

Right, he’s just not gonna pay. It’s not like they’re gonna go get the money from his bank account. Can you imagine Elon Musk being garnished? Never gonna happen

[-] MrSulu@lemmy.ml 32 points 2 weeks ago

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

[-] CaliforniaSober@lemmy.ca 5 points 2 weeks ago* (last edited 2 weeks ago)

God bless Willie Nelson…

[-] WanderWisley@lemmy.world 30 points 2 weeks ago

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

[-] SocialMediaRefugee@lemmy.world 12 points 2 weeks ago

admit any wrongdoing.

So, the Trump school of leadership.

[-] 1984@lemmy.today 2 points 2 weeks ago

This has really spread these days, including living in filter bubbles.

[-] Insekticus@aussie.zone 30 points 2 weeks 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.

[-] minorkeys@lemmy.world 26 points 2 weeks ago

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

[-] blady_blah@lemmy.world 11 points 2 weeks ago

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.

[-] HeyThisIsntTheYMCA@lemmy.world 6 points 2 weeks ago

if you drag it out, a billion dollar fine becomes a million real fast

[-] minorkeys@lemmy.world 3 points 2 weeks ago

That's a power thing. Avoiding accountability to the rule of law.

[-] stephen@lazysoci.al 15 points 2 weeks ago

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

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[-] rogsson@piefed.social 13 points 2 weeks ago

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

[-] yabbadabaddon@lemmy.zip 5 points 2 weeks ago

This does not work because he will find a way to have 0 income (legally). I don't know how we can make the billionaires pay, but we should tax the assets not the incomes.

[-] 1984@lemmy.today 10 points 2 weeks ago

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

[-] jontree255@lemmy.world 9 points 2 weeks ago
  1. That’s chump change to him.
  2. He’s not going to pay it anyway.
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[-] SocialMediaRefugee@lemmy.world 6 points 2 weeks ago

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

[-] GreenBeanMachine@lemmy.world 6 points 2 weeks ago
[-] Etterra@discuss.online 3 points 2 weeks ago

That's assuming they can even get him to pay it.

[-] db2@lemmy.world 3 points 2 weeks ago

And now the people he owes will never be broke. They'll always have that money coming "some day".

[-] 13igTyme@piefed.social 3 points 2 weeks ago* (last edited 2 weeks ago)

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.

[-] mthomson@forum.macaque.social 3 points 2 weeks ago

oh c'mon! didn't intentionally mislead investors? just accidentally. so they're saying he's an idiot?

[-] mechoman444@lemmy.world 3 points 2 weeks ago* (last edited 2 weeks ago)

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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[-] anotherspinelessdem@lemmy.ml 3 points 2 weeks ago

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.

[-] ZILtoid1991@lemmy.world 3 points 2 weeks ago

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

[-] phoenixz@lemmy.ca 3 points 2 weeks 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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this post was submitted on 21 Mar 2026
368 points (99.5% liked)

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