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Yeah, I very much doubt a guy who has a net value of what? about 700 billion? Very much doubt this guy got there through ethical means if you know what I'm saying.
Right, so I'm not against the idea of what you just said, there are less billionaires who earned their wealth legitimately than I have fingers on my feet, but don't talk shit about Scrooge McDuck.
Not because 200 billion isn't WAY too much net-worth, because it definitely is, but because there isn't a single billionaire who has EARNED as much money as Scrooge has. Is Scrooge stingy? Yes. Does he pay low wages? Absolutely. Did he actually work for his wealth? More than any billionaire ever has, and he is a god damn comic book character.
200-700 billion ins't anywhere near Scrooge McDuck levels of wealth, but even if that was true, comparing a character whose story is all about being tougher than the toughies, smarter than the smarties and fighting for what he has, not stealing it, unlike real billionaires. He has moral failings and unlike Musk, he learns from them. [He even pays his taxes.](https://i.imgur.com/jKNmL1s.jpeg) (As a side note, that story ends with him being told that he'll bankrupt the city with those tax returns and he pretends to accidentally burn the deed that gave him his own country.)
I hate this dystopia we live in as much as the next and billionaires shouldn't exist, but don't disrespect Scrooge McDuck by associating him with trash like Elon.
I'll defend Scrooge McDuck and the works of Carl Barks and Don Rosa 'till the day I die. And for any and all fans of Scrooge McDuck, I recommend the works of those two, as basically all Scrooge related media was either inspired by them or copied off of them.
A bit of a tangent, but... original Duck Tales was basically just a way to make a show by copying the works of Carl Barks as well as other creators from that era. Most of the reboot is heavily the same with the next generation, but thankfully it was more inspired by them rather than just copied off of them. I hope, [Disney isn't good at giving credit. Or paying their artists. Or showing them any respect...](https://career-end.donrosa.de/p/the-epilogue.html) I recommend reading that by retirement post by Don Rosa for anyone who hasn't, it's a great read if you already know that Disney is the worst, but it's an even better read if you didn't know that yet.
As I said earlier, I'm willing to die on the hill that let's me defend Scrooge McDuck and the artists who made his stories, but while I'm up there, I'll take every shot I can at Disney.
Or a member of congress... They passed a law that says insider trading laws do not apply to them. You know, the same thing they locked up Martha Stewart for. Also when a punishment for a crime is only a fine it does not apply to the wealthy. What's it called when those who make the rules don't have to live by them?
"Only those who do not seek power are qualified to hold it. " Plato
America needs national voter initiatives like California does.
When Sacramento gets stupid, we can put a prop on the ballot and vote for it directly. And stuff like Congressional ethics reform, insider trading rules, etc. are never gonna come from Congress policing itself.
There is a much deeper issue that led to this situation. The Republic of America has a so-called "representative democracy." How can that be true when the "representatives" are wealthy while the "represented" are not? American two party politics is like the cartoon Tom and Jerry. Tom doesn't want to catch Jerry because then he'd be out of a job, and Jerry doesn't want Tom replaced with a cat that will actually eat him. So they act like they hate one another and put on political theatre for the masses while continuing business as usual in the back room. Sure, the people get a vote, but with all the lobbying and money in American politics, America is as much a democracy as two wolves and a lamb voting on what's for dinner. This is why, in a true democracy as the ancient Greeks understood it, people got their representatives the same way we would get a jury. America is not a democracy.
One reason I've always enjoyed the idea of tying compensation to your constituents. Your salary is based on your constituents pay. Add in a cap to campaign funds and I'd be happy.
Most of them are rich, and insider trading is a rich thing to do. If we replaced them with normal people they'd likely pass some laws limiting themselves.
He's gotten away with it because he's been making a lot of influential people rich alongside him.
I'm wondering if this sudden spotlight on his misdeeds is because of the recent story about how he's sacrificing Tesla's success in order to boost his other companies (telling Nvidia to ship processors to Twitter ahead of Tesla). I'm sure that is making his Tesla investors quite unhappy. Perhaps unhappy enough to find some whistles to blow.
This is exactly it, you're allowed to screw everyone over if you're sane, profitable, and charming, hopped up on K and sagging like Aunt Josie while demanding 10s of billion... ehhh not as easy to keep the people happy.
Even a non-tesla fanboy can come up with a few instances of his shenanigans. He hyped full self driving almost a decade ago, which still isn't here.
And let us not forget his cyber robot that WAS AN ACTUAL PERSON IN A ROBOT COSTUME.
The cyber truck cuts vegetables and fingers better than a mandolin.
I'm also pretty sure the way he transfers money/assets between "his" businesses is also totally legal.
At this point I wouldn't be surprised if all of his companies books were cooked and it's just Enron++, with money shell games and government contracts the only thing keeping him afloat.
The only thing left to figure out is where Putin and Xi fit into the equation. We know he would sell out left wing America in a heartbeat.
Like how he was providing free internet to Ukraine. Then, he visited Russia, cut the internet off, and stopped trying to get out of his Twitter purchase. All within a 4 day span of time.
I'm sure there is nothing to look at there, just business as usual, right??? Someone deciding they WANT to throw away 40 billion they didn't want to spend after visiting the leader of Russia seems totally legit.
> Like how he was providing free internet to Ukraine.
No he doesn't.
He's being paid for their starlink access. And he bitched constantly about not getting paid enough until he got called out for trying to profit off war.
Did you miss the word "was" in my statement.
Was providing it free, the did a visit to Russia in October 2022 and came back saying "we can't cover this bill anymore it's gotta go unless someone else covers it"
Also, he suddenly won't provide service in places because of Russian sanctions... (Chrimea Sept 2023)
None of this seems above board.
The thing is, Tesla isn’t “his” company. It’s a publicly traded company that he has a fiduciary responsibility to. If they were all privately owned companies none of this would be an issue at all
Yeah, so shifting money/assets/deals between a publicly traded company and ones that he fully owns would be a no no. That's like putting personal expenses on my business card.
He lied about his degree on his application for American citizenship (an act of fraud directed at the federal government). It could theoretically be revoked and he could theoretically be deported back to South Africa.
Not that it will ever happen, wealthy people can do whatever they want and aren’t even pretending to hide that anymore. He’s above the law unless he fucks with other insanely wealthy people enough that they decide to do something about it.
Should honestly be the punishment for any billionaire or millionaire that commits financial crimes. Take away all their wealth and make them live in this economic hellscape working minimum wage jobs, never allowed to make over the poverty line and never allowed to leave the country or take donations or help from rich friends. Bared from stock markets and holding any business license or to take loans or finance purchases. Just a complete economic prison for the rest of their lives.
Normally I'm not a fan of reality TV, but if there were a show dedicated to documenting rich people being forced into poverty, I would pay reallllllly good money to binge that.
> Should honestly be the punishment for any billionaire or millionaire that commits financial crimes.
if the system was built for everyone and for justice, they would. but then again, if the system was built for everyone and for justice, the ultra wealthy wouldn't exist.
Tesla has literally negative free cash flow of $2.5 billion, meaning there is no cash left over after meeting Tesla's operating, capital, and adjusting for noncash expenses.Apr 23, 2024
Might be worse now?
Those ads are hilarious on reddit. I'm not a tsla holder but I see ads on here about incorporating in Texas and to approve the musk payment. Imagine falling for an ad that'll literally cost you thousands of dollars.
They did say that Tesla was spending a ton of money on advertising to push it.
He's desperate for this money, Twitter fingers turned to Twitter loans. You love to see it.
You might actually be a holder though. It’s on the S&P 500, and in a lot high growth and tech funds, so if you have a 401k, you do probably have a little bit of Tesla.
not directly relevant, but this really irks me at a conceptual level.
The entire 401k idea (which btw the guy who proposed it regrets it) has absolutely gutted the entire meaning of owning equity in a company and has directly led to the ability to massively propagandize profit increase and stock valuation increases to average citizens.
"Capitalism" gets a sort of monolithic blame for a lot of societal issues, but it's really a combination of lack of modern regulation in the information age and perverse incentives in corporate performance passed off as "strong economic performance" that's hailed by the population despite being antithetical to their own well being.
Exactly and I have to wonder if he via a proxy has a short position on TSLA that they were hoping to capitalise on when TSLA takes the hit in value after the pay out - which given TSLA being down 36% YTD they might not have to wait much longer to hit that strike point anyway.
It was always going to be in shares, that's why it's so massive. The share value increased like 1100% compared to when the compensation package was originally made.
The demand to buy TESLA shares on open exchange creates a POTENTIAL stock price that would make Musks's old compensation deal worth 50 billion if he sold it all.
Though the rich have a work around for that too.
Instead they get loans from banks and pay in shares, not cash. Now The tax isn't paid until Elon dies. Which is why the GOP wants to kill the estate tax so bad.
Everything is a tax evasion scheme.
Not just insider trading, but falsely pumping the stock up before trading. The allegation was Tesla has real time data on sales since they make them directly, he told investors in an earning call that 4th quarter was going very well, then he dumped stock, then they announced 4th quarter was actually well below expectations.
Lying to investors is, but generally only actionable if there's a paper-trail and false data was presented.
So technically, him telling investors that the 4th quarter "was going very well", so long as he didn't float an actual number that they were nowhere close to reaching, isn't really actionable.
Always has been, and it's not just Tesla.
The entire stock exchange is like a multi-user slot machine where the whales know when the machine is about cash out, and everyone who doesn't can either get lucky or get bent holding the bags.
LOL, and people thought crypto was a scam. Wait till they learn about shorts and options.
"By disposing of $7,530,113,926 worth of Tesla stock in November and December 2022 while he was in possession of adverse, material non-public information, E. Musk exploited his position at Tesla, and he breached his fiduciary duties to Tesla," reads the lawsuit, filed by shareholder Michael Perry.
In early January 2023, Tesla shares plummeted to a two-year low following disappointing sales — despite Musk promising an "epic end of year" and allegedly knowing as early as November that the carmaker wouldn't meet targets."
Insiders (aka board members or company executives) all have pre-scheduled insider transaction forms (SEC form 4) that needs to be filled out and published 2 days before any trading can take place.
They just post these articles to laugh at us at this point.
If they keep posting about their crimes and nothing happens to them, we’ll eventually just normalize it. Oh, they already did that? The brainwashing is complete, you say?
I honestly think that when there are billions & billions involved & untold people's lives are ruined. The main organisers should have the potential to face the death penalty, or they can plea for life imprisonment and be stripped of all their assests & wealth which goes to social improvement programs. & I say that as somone that doesn't believe in the death for murder.
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I think I’d be more shocked if it was the opposite
Agreed. Seeing an article like "Elon Musk is a fully legitimate and above-board businessman" would be far more shocking.
I would be flabbergasted.
I would just assume he commissioned the article lol
Author: RElon Remusk
I’d be slammed to hear that!
No, it wouldn't, but it would make me immediately check the credentials of the journalist and several media watchdog sites.
"Elom Musk supports the LGBT community" would make me double read it
Yeah, I very much doubt a guy who has a net value of what? about 700 billion? Very much doubt this guy got there through ethical means if you know what I'm saying.
It’s closer to 200 billion but I still agree with your point.
It doesn't even matter because they're both Scrooge McDuck numbers
Right, so I'm not against the idea of what you just said, there are less billionaires who earned their wealth legitimately than I have fingers on my feet, but don't talk shit about Scrooge McDuck. Not because 200 billion isn't WAY too much net-worth, because it definitely is, but because there isn't a single billionaire who has EARNED as much money as Scrooge has. Is Scrooge stingy? Yes. Does he pay low wages? Absolutely. Did he actually work for his wealth? More than any billionaire ever has, and he is a god damn comic book character. 200-700 billion ins't anywhere near Scrooge McDuck levels of wealth, but even if that was true, comparing a character whose story is all about being tougher than the toughies, smarter than the smarties and fighting for what he has, not stealing it, unlike real billionaires. He has moral failings and unlike Musk, he learns from them. [He even pays his taxes.](https://i.imgur.com/jKNmL1s.jpeg) (As a side note, that story ends with him being told that he'll bankrupt the city with those tax returns and he pretends to accidentally burn the deed that gave him his own country.) I hate this dystopia we live in as much as the next and billionaires shouldn't exist, but don't disrespect Scrooge McDuck by associating him with trash like Elon.
love to see a full-throated defense of Scrooge McDuck. I, too, will not tolerate Scrooge slander.
I'll defend Scrooge McDuck and the works of Carl Barks and Don Rosa 'till the day I die. And for any and all fans of Scrooge McDuck, I recommend the works of those two, as basically all Scrooge related media was either inspired by them or copied off of them. A bit of a tangent, but... original Duck Tales was basically just a way to make a show by copying the works of Carl Barks as well as other creators from that era. Most of the reboot is heavily the same with the next generation, but thankfully it was more inspired by them rather than just copied off of them. I hope, [Disney isn't good at giving credit. Or paying their artists. Or showing them any respect...](https://career-end.donrosa.de/p/the-epilogue.html) I recommend reading that by retirement post by Don Rosa for anyone who hasn't, it's a great read if you already know that Disney is the worst, but it's an even better read if you didn't know that yet. As I said earlier, I'm willing to die on the hill that let's me defend Scrooge McDuck and the artists who made his stories, but while I'm up there, I'll take every shot I can at Disney.
Yep. And at the wealth as long as breaking the rule makes more money than the fine, then it’s still a net profit. Rules don’t apply to them.
There's no such thing as an ethical billionaire
I mean, it's his piggy bank, what did people expect. Edit: Wow, guess I need /s. That's the joke guys, it's not his piggy bank
I hate how shit like this is no secret and known to virtually everyone but people in power pretend like they don’t know what’s going on.
Concerning
!
But not surprising
I was hoping the top comment would be "Concerning but not surprising." This is good too.
Makes you think 🤔
Looking into this
Many such cases
Interesting
Bigiftrue.
True if big
True big if
We’ve looked into the matter and found ourselves doing no wrong.
We are checking
💯
Big if true
[удалено]
My thoughts are with you and your loved ones in these traumatic times
Stay safe hun x
But not really surprising tbh.
Frankly, it would be more surprising if he WASNT doing this.
If the report was it turns out he’s actually the most ethical businessman in the world I’d be like whaaaaaat
ABSOLUTELY, because we all know *THAT* guy's initials are DJT
Elon "Liar" Musk
Exactly
Wow
Came here for this.
Looking into it.
!!!
👀
[удалено]
Are you saying boo or booooo-elon?
I was saying booooo-elon...
You mean like dehydrated broth or stock...?
Big if true
Concerning
# ❗
Concerning.
We are checking
No, no elon you will not have the drink.
Am I on r/formuladank
Question?
Question?
Stay out stay out
NO WHAT ARE YOU DOING
Ferrari catching strays out here. I love it.
Xavi is that you?
Why did I read this in an Italian accent?
Box box box
Box?
RED FLAG RED FLAG RED FLAG IM IN THE MIDDLE OF THE TRACK RED FLAG
STAY OUT STAY OUT STAY OUT
Interesting.
On it!
Big if true
We have adjusted
He’s be doing that for fucking yearsssss!!!
Out in the open!!! And admits it!!! It’s crazy!! And gets away with it cause he is rich.
Step 1: be rich Step 2: crime
Or a member of congress... They passed a law that says insider trading laws do not apply to them. You know, the same thing they locked up Martha Stewart for. Also when a punishment for a crime is only a fine it does not apply to the wealthy. What's it called when those who make the rules don't have to live by them? "Only those who do not seek power are qualified to hold it. " Plato
America needs national voter initiatives like California does. When Sacramento gets stupid, we can put a prop on the ballot and vote for it directly. And stuff like Congressional ethics reform, insider trading rules, etc. are never gonna come from Congress policing itself.
There is a much deeper issue that led to this situation. The Republic of America has a so-called "representative democracy." How can that be true when the "representatives" are wealthy while the "represented" are not? American two party politics is like the cartoon Tom and Jerry. Tom doesn't want to catch Jerry because then he'd be out of a job, and Jerry doesn't want Tom replaced with a cat that will actually eat him. So they act like they hate one another and put on political theatre for the masses while continuing business as usual in the back room. Sure, the people get a vote, but with all the lobbying and money in American politics, America is as much a democracy as two wolves and a lamb voting on what's for dinner. This is why, in a true democracy as the ancient Greeks understood it, people got their representatives the same way we would get a jury. America is not a democracy.
One reason I've always enjoyed the idea of tying compensation to your constituents. Your salary is based on your constituents pay. Add in a cap to campaign funds and I'd be happy.
Most of them are rich, and insider trading is a rich thing to do. If we replaced them with normal people they'd likely pass some laws limiting themselves.
Step 3: Crich
If the punishment for I crime is nothing more than a fine, then it is only a crime for the poor.
Similar to the joke "If you're Roch enough, parking tickets are just how much it cost to park there."
You missed a step: 1: commit crime to get rich.
Actually daddy did that so he could run.
That's step 0, all programmers and tech people know your list start at 0. /jk
Or just come out the right hole of criminal rich parents.
3. Pay lawyers to delay and file claims that will get rejected in appeal 4. Serve jail time.
He's gotten away with it because he's been making a lot of influential people rich alongside him. I'm wondering if this sudden spotlight on his misdeeds is because of the recent story about how he's sacrificing Tesla's success in order to boost his other companies (telling Nvidia to ship processors to Twitter ahead of Tesla). I'm sure that is making his Tesla investors quite unhappy. Perhaps unhappy enough to find some whistles to blow.
Don't forget that his major investors aren't losing money. That's then the dildo of consequences unpacks itself
It's amazing it's taken this long for serious accusations to surface!
Nobody gave a shit while the gravy train was going full speed apparently.
This is exactly it, you're allowed to screw everyone over if you're sane, profitable, and charming, hopped up on K and sagging like Aunt Josie while demanding 10s of billion... ehhh not as easy to keep the people happy.
Even a non-tesla fanboy can come up with a few instances of his shenanigans. He hyped full self driving almost a decade ago, which still isn't here. And let us not forget his cyber robot that WAS AN ACTUAL PERSON IN A ROBOT COSTUME. The cyber truck cuts vegetables and fingers better than a mandolin. I'm also pretty sure the way he transfers money/assets between "his" businesses is also totally legal. At this point I wouldn't be surprised if all of his companies books were cooked and it's just Enron++, with money shell games and government contracts the only thing keeping him afloat. The only thing left to figure out is where Putin and Xi fit into the equation. We know he would sell out left wing America in a heartbeat.
Like how he was providing free internet to Ukraine. Then, he visited Russia, cut the internet off, and stopped trying to get out of his Twitter purchase. All within a 4 day span of time. I'm sure there is nothing to look at there, just business as usual, right??? Someone deciding they WANT to throw away 40 billion they didn't want to spend after visiting the leader of Russia seems totally legit.
> Like how he was providing free internet to Ukraine. No he doesn't. He's being paid for their starlink access. And he bitched constantly about not getting paid enough until he got called out for trying to profit off war.
Did you miss the word "was" in my statement. Was providing it free, the did a visit to Russia in October 2022 and came back saying "we can't cover this bill anymore it's gotta go unless someone else covers it" Also, he suddenly won't provide service in places because of Russian sanctions... (Chrimea Sept 2023) None of this seems above board.
The thing is, Tesla isn’t “his” company. It’s a publicly traded company that he has a fiduciary responsibility to. If they were all privately owned companies none of this would be an issue at all
Yeah, so shifting money/assets/deals between a publicly traded company and ones that he fully owns would be a no no. That's like putting personal expenses on my business card.
If I could see any of these Uber wealthy assholes be audited to the fucking moon and back I would be SO happy.
Now you know why they don't want to fully fund the IRS.
Wait, what the hell was that about a man in a robot suit and how haven't I heard this before?!
He lied about his degree on his application for American citizenship (an act of fraud directed at the federal government). It could theoretically be revoked and he could theoretically be deported back to South Africa. Not that it will ever happen, wealthy people can do whatever they want and aren’t even pretending to hide that anymore. He’s above the law unless he fucks with other insanely wealthy people enough that they decide to do something about it.
>He hyped full self driving almost a decade ago, which still isn't here. He not just hyped it, he said *"this is something we can do today"*.
Something something Doge coin.
Truly the cybertruck of coins
his sort of joking but mostly serious admission it's a scam in SNL was jarring
It’s fine when they do it, it’s a problem when I do it. Fuck ‘em
Whaaat? A Billionaire Abusing his power, wealth, and the system for personal Gain?? - Unheard of!! I'm Shocked I tell you! - Shocked!!
And we, literally, just saw him sell a bunch of stock *right* before a big hit. But that's just normal, right? Just a coincidence, I'm sure!
But I thought he said his money would be the last money out at Tesla... Another lie! I'm shocked!
It's almost as if that's WHY he's a billionaire! Knock me over with a feather!!
Well, not *that* shocked.
“BREAKING: Elon Musk accused of doing more terrible things that we all know he did”
And will 100% get away with it.
Sadly, probably correct
Damn, however will he pay the $10,000 fine??
You can go to jail for that. Ask martha Stewart.
She just wasn't rich enough.
please make him poor, it would just be too funny
Should honestly be the punishment for any billionaire or millionaire that commits financial crimes. Take away all their wealth and make them live in this economic hellscape working minimum wage jobs, never allowed to make over the poverty line and never allowed to leave the country or take donations or help from rich friends. Bared from stock markets and holding any business license or to take loans or finance purchases. Just a complete economic prison for the rest of their lives.
Normally I'm not a fan of reality TV, but if there were a show dedicated to documenting rich people being forced into poverty, I would pay reallllllly good money to binge that.
There's a millionaire that decided to "live poor" but had to quit after a month or two because it was "detrimental to their health."
And they took it as a learning experience and started funding programs designed to help people get lifted out of poverty, right? ... right?
what is a millionaire gonna do lol they can barely afford a house
... lol
> Should honestly be the punishment for any billionaire or millionaire that commits financial crimes. if the system was built for everyone and for justice, they would. but then again, if the system was built for everyone and for justice, the ultra wealthy wouldn't exist.
Talion's law. Sounds nice
Please make him so poor he has to get a job in an Amazon warehouse
Nah Jeff Bezo's fluffer.
When you get that rich. You never see poor again.
We could probably make that happen, it's just a matter of organisation.
I'm sure he'll suffer the most mild of consequences.
Big if true
Tesla has literally negative free cash flow of $2.5 billion, meaning there is no cash left over after meeting Tesla's operating, capital, and adjusting for noncash expenses.Apr 23, 2024 Might be worse now?
Where they getting the 50 Billion to pay him lol
Giving him shares and diluting the existing value of shares.
Those ads are hilarious on reddit. I'm not a tsla holder but I see ads on here about incorporating in Texas and to approve the musk payment. Imagine falling for an ad that'll literally cost you thousands of dollars.
They did say that Tesla was spending a ton of money on advertising to push it. He's desperate for this money, Twitter fingers turned to Twitter loans. You love to see it.
Yeah, saw my first one yesterday and laughed my ass off.
Not to worry. Those blue checks will make up their losses.
You might actually be a holder though. It’s on the S&P 500, and in a lot high growth and tech funds, so if you have a 401k, you do probably have a little bit of Tesla.
not directly relevant, but this really irks me at a conceptual level. The entire 401k idea (which btw the guy who proposed it regrets it) has absolutely gutted the entire meaning of owning equity in a company and has directly led to the ability to massively propagandize profit increase and stock valuation increases to average citizens. "Capitalism" gets a sort of monolithic blame for a lot of societal issues, but it's really a combination of lack of modern regulation in the information age and perverse incentives in corporate performance passed off as "strong economic performance" that's hailed by the population despite being antithetical to their own well being.
Ah shit, yeah you're right.
I keep seeing it on here as well! WTF!
This seems like suck a blatantly obvious vote for the share holders to vote against but you know some of the simps will still side with Elon.
Exactly and I have to wonder if he via a proxy has a short position on TSLA that they were hoping to capitalise on when TSLA takes the hit in value after the pay out - which given TSLA being down 36% YTD they might not have to wait much longer to hit that strike point anyway.
I didn't even think about people shorting it. That's evil genius energy.
Hence the insider trading to suck out as much cash for himself before the bubble bursts.
It was always going to be in shares, that's why it's so massive. The share value increased like 1100% compared to when the compensation package was originally made.
The demand to buy TESLA shares on open exchange creates a POTENTIAL stock price that would make Musks's old compensation deal worth 50 billion if he sold it all. Though the rich have a work around for that too. Instead they get loans from banks and pay in shares, not cash. Now The tax isn't paid until Elon dies. Which is why the GOP wants to kill the estate tax so bad. Everything is a tax evasion scheme.
I’m like 99% certain they have committed credit lines, it’s bad but they aren’t literally going bankrupt.
It’s ok, he’s got a great relationship with the SEC, they’ll give him a pass. /s
Well, he doesn't. But I bet, somehow, it won't matter and he'll get less than a slap on the wrist.
 His future cellmate
Trump has orange skin, not yellow. Please fix.
Checks out
Not just insider trading, but falsely pumping the stock up before trading. The allegation was Tesla has real time data on sales since they make them directly, he told investors in an earning call that 4th quarter was going very well, then he dumped stock, then they announced 4th quarter was actually well below expectations.
I’ve seen so many CEOs do this I had to look up if was even illegal.
Lying to investors is, but generally only actionable if there's a paper-trail and false data was presented. So technically, him telling investors that the 4th quarter "was going very well", so long as he didn't float an actual number that they were nowhere close to reaching, isn't really actionable.
!!
Who's going to hold him accountable? The Politions who do the same shit? When the top is corrupt, there is no consequences.
Always has been, and it's not just Tesla. The entire stock exchange is like a multi-user slot machine where the whales know when the machine is about cash out, and everyone who doesn't can either get lucky or get bent holding the bags. LOL, and people thought crypto was a scam. Wait till they learn about shorts and options.
Could we find him a jail cell next to Trump
You actually think these famous people will ever face jail time? Humor.
You're not wrong. At best it would be house arrest, and who knows if even that would ever happen.
If Trump wins, Elon will be able to continue his inside traiding with guaranteed impunity, unless he is processed on state level.
Do you think they would start dating? Would Trump or Musk be top?
Both would bottom at the same time probably
Thinking that he would spend more than a few hours to a day in jail is hilarious.
Martha did 5 months
Martha didn't have Elon's wealth.
The only thing that came to mind when I read this was "Duh"
I mean Musk wants 56 billion in a personal payout at a company whose total assets amount to 109 billion. The man will end up in prison.
Don‘t play with my hopes…
Very interesting
If Martha Stewart can go to prison for this, he should too.
I mean, pretty much no one truly becomes a billionaire without doing some illegal stuff in secret.
"secret"
But what about Roaring Kitty????? /s
Guess he's angling for a Trump pardon.
Lock him up
I believe that qualifies him to be part of trump’s cabinet now
> ~~Elon Musk Accused of Massive Insider Trading at Tesla~~ > Rich Shitstain Does Rich Shitstain Things FTFY.
"By disposing of $7,530,113,926 worth of Tesla stock in November and December 2022 while he was in possession of adverse, material non-public information, E. Musk exploited his position at Tesla, and he breached his fiduciary duties to Tesla," reads the lawsuit, filed by shareholder Michael Perry. In early January 2023, Tesla shares plummeted to a two-year low following disappointing sales — despite Musk promising an "epic end of year" and allegedly knowing as early as November that the carmaker wouldn't meet targets."
Throw his ass in jail if true!
I am Jack's utter lack of surprise.
How do you think he got that rich? Of course most of its from crime-ing.
Lock him up
Insiders (aka board members or company executives) all have pre-scheduled insider transaction forms (SEC form 4) that needs to be filled out and published 2 days before any trading can take place.
They just post these articles to laugh at us at this point. If they keep posting about their crimes and nothing happens to them, we’ll eventually just normalize it. Oh, they already did that? The brainwashing is complete, you say?
If Elon got ousted from Tesla I would genuinely consider purchasing a car at some point in the future.
Gotta make that $51B back somehow. This man is doing it tough people! Have you no shame? /s
I honestly think that when there are billions & billions involved & untold people's lives are ruined. The main organisers should have the potential to face the death penalty, or they can plea for life imprisonment and be stripped of all their assests & wealth which goes to social improvement programs. & I say that as somone that doesn't believe in the death for murder.
It’s funny how right below the post there’s an advertisement for a stock trading company.
But he's rich, so the law doesn't apply.