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 21 hours ago* (last edited 21 hours 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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[โ€“] teyrnon@sh.itjust.works 1 points 11 hours ago (1 children)

While true, a recession will change things.

[โ€“] theolodis@feddit.org 1 points 11 hours ago

It will only restrict his ability to get new loans, and make his collaterals worthless. But he probably spent most of the money they gave him, and like with twitter, he shifted the assets around in his network of companies, like a thimblerigger.

But that's kind of like saying that inflation will make the rich poor, which is also not true.