7 ms·

Ouch 20million for a drunken tweet

by vs2 8y ago

braythwayt 8y ago
And loss of the Chairman’s job!
- elihu 8y ago
  ...for three years, anyways.
jdoliner 8y ago
It seems to say 40 million in the header. Edit: 20 mil for Musk, 20 mil for Tesla.
- minimaxir 8y ago
  $20 million from Musk, $20 million from Tesla.
  - melling 8y ago
    The stock will surge on Monday. It cost them $0. In fact, they’ll make a lot of money by removing the uncertainty.
noobermin 8y ago
Keeping it real, many people have ruined their lives over bad tweets.
- InclinedPlane 8y ago
  Realer: countries have been ruined over bad tweets.
  - emiliobumachar 8y ago
    Any examples?
    - vermontdevil 8y ago
      USA
    - InclinedPlane 8y ago
      Seriously? Anyone who couldn't think of THE PRIME EXAMPLE of the moment is either not paying attention to politics whatsoever or has an extreme political bias blinding them to the obvious excuse. I'll give you one hint: the only world leader that has been laughed at openly by the UN general assembly.
      - kodablah 8y ago
        Ruined, eh?
rabidrat 8y ago
Elon is worth $20b [1]. $20m is 0.1% of his net worth. That's like a $1000 fine for someone who has "only" $1m. I have quite a bit less than $1m and a $1000 fine, while not nothing, would make me cranky for a week or a two but have almost no material impact on my life.
- threeseed 8y ago
  You can’t make these statements. Net worth is not the same as liquid assets. Most of his net worth is likely tied up in stock. Which he can’t exactly sell.
  - afterburner 8y ago
    He can take out a loan. It's easy, he has all those stocks to leverage against.
    - adtac 8y ago
      What interest rates do rich people like him get? Is the concept of charging interest still valid at that level or is it all bartering of favours?
      - tomatocracy 8y ago
        I couldn't tell you what interest rate he's likely to pay but in general in this situation, there is interest. Whoever lends him the money has their own cost of funds and admin costs to cover at a minimum, even if they view repayment as close to zero risk because the collateral is very good.
      - bdonlan 8y ago
        You can get an upper bound by looking at published interest rates for brokerages, e.g.: https://www.interactivebrokers.com/en/index.php?f=1595 https://www.interactivebrokers.com/en/index.php?f=1595
      - toomuchtodo 8y ago
asaph 8y ago
$40 million actually. > Settlement Requires Musk to Step Down as Tesla’s Chairman; Tesla to Appoint Additional Independent Directors; Tesla and Musk Agree to Pay $40 million in Penalties > Musk and Tesla will each pay a separate $20 million penalty. The $40 million in penalties will be distributed to harmed investors under a court-approved process.

Ouch 20million for a drunken tweet

by vs2 8y ago

Ouch 20million for a drunken tweet

braythwayt 8y ago

And loss of the Chairman’s job!

elihu 8y ago
...for three years, anyways.

jdoliner 8y ago

It seems to say 40 million in the header. Edit: 20 mil for Musk, 20 mil for Tesla.

minimaxir 8y ago
$20 million from Musk, $20 million from Tesla.
- melling 8y ago
  The stock will surge on Monday. It cost them $0. In fact, they’ll make a lot of money by removing the uncertainty.

noobermin 8y ago

Keeping it real, many people have ruined their lives over bad tweets.

InclinedPlane 8y ago
Realer: countries have been ruined over bad tweets.
- emiliobumachar 8y ago
  Any examples?
  - vermontdevil 8y ago
    USA
  - InclinedPlane 8y ago
    Seriously? Anyone who couldn't think of THE PRIME EXAMPLE of the moment is either not paying attention to politics whatsoever or has an extreme political bias blinding them to the obvious excuse. I'll give you one hint: the only world leader that has been laughed at openly by the UN general assembly.
    - kodablah 8y ago
      Ruined, eh?

rabidrat 8y ago

Elon is worth $20b [1]. $20m is 0.1% of his net worth. That's like a $1000 fine for someone who has "only" $1m. I have quite a bit less than $1m and a $1000 fine, while not nothing, would make me cranky for a week or a two but have almost no material impact on my life.

threeseed 8y ago
You can’t make these statements. Net worth is not the same as liquid assets. Most of his net worth is likely tied up in stock. Which he can’t exactly sell.
- afterburner 8y ago
  He can take out a loan. It's easy, he has all those stocks to leverage against.
  - adtac 8y ago
    What interest rates do rich people like him get? Is the concept of charging interest still valid at that level or is it all bartering of favours?
    - tomatocracy 8y ago
      I couldn't tell you what interest rate he's likely to pay but in general in this situation, there is interest. Whoever lends him the money has their own cost of funds and admin costs to cover at a minimum, even if they view repayment as close to zero risk because the collateral is very good.
    - bdonlan 8y ago
      You can get an upper bound by looking at published interest rates for brokerages, e.g.: https://www.interactivebrokers.com/en/index.php?f=1595 https://www.interactivebrokers.com/en/index.php?f=1595
    - toomuchtodo 8y ago

asaph 8y ago

$40 million actually. > Settlement Requires Musk to Step Down as Tesla’s Chairman; Tesla to Appoint Additional Independent Directors; Tesla and Musk Agree to Pay $40 million in Penalties > Musk and Tesla will each pay a separate $20 million penalty. The $40 million in penalties will be distributed to harmed investors under a court-approved process.