• JadenSmith@sh.itjust.works
    link
    fedilink
    English
    arrow-up
    18
    arrow-down
    1
    ·
    10 hours ago

    Wasn’t he forced to do so after trying to back out, or am I either imagining that or thinking of someone else?

    • PumpkinSkink@lemmy.world
      link
      fedilink
      English
      arrow-up
      2
      ·
      edit-2
      1 hour ago

      It’s a little more complex than that. He, like, was buying shares, blew past the 5% ownership disclosure point, failed to disclose, was forced to disclose his stake. He was then offered a seat on the board, didn’t like the lack of control, and made a meme offer on the remaining stake to take the company private, tried to pull out, and was forced to buy the company he didn’t want to buy by the board of directors who didn’t want him to buy it.

      He’s the recent Adam Conover interview with the details: https://youtu.be/sxG2Y3E0uEY?si=r0VMY7s3iZ9uaP39

    • CellarRat@sh.itjust.works
      link
      fedilink
      English
      arrow-up
      18
      ·
      8 hours ago

      If I recall correctly he could have backed out but he would have had to pay I think 1billion as a penalty and worse admit things didnt go his way

      • rumba@lemmy.zip
        link
        fedilink
        English
        arrow-up
        13
        ·
        7 hours ago

        300 Billion dollar portfolio, 34 Billion dollar loss (~22 Billion after he writes it off in “taxes”) and he has his own right-wing media company chocked full of nutters.

        I don’t think he cares much about the individual Billions much these days. Half his Tesla stock is securing his debt.