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My guess is he's hit that obscene level of wealth and realizes he is now beyond the controls of the system, and can therefore game it to his advantage. When yo

My guess is he's hit that obscene level of wealth and realizes he is now beyond the controls of the system, and can therefore game it to his advantage. When you can afford the best legal team money can buy and payoff the rest of the gatekeepers, then the game is simply to transfer wealth into your own pocket in bigger chunks.

pclmulqdq 4y ago
He's overleveraged and most of his companies are on the brink of falling below the point where he gets margin called. The poor sap wanted to rescue a few billions of dollars that could actually survive a recession, but he picked the wrong way to do it.
godelski 4y ago
Honestly, so what if he's out $60 bn. I don't think this would affect his lifestyle in any way whatsoever. But it would affect his high score. I'm guessing at one point he realized the former but later realized the latter and cared more about that. Though he's still got a 88bn lead on second place so I'm not sure why he cares.
- atlasunshrugged 4y ago
  No matter what it won't be him fronting all the money, he had institutional investors that were ponying up a huge amount of the dough alongside him.
- notahacker 4y ago
  Not sure it's going to affect his probably-not-that-lavish lifestyle that much. But since those billions are in stock it likely it will affect his level of control of companies, his ability to attract future investments and his future decisions. Which people paying attention to tech companies probably care about more than what flavour caviar he eats and what schools his kids go to anyway.
cormacrelf 4y ago
You can’t bribe the judges in Delaware. They can force him to go through with the deal at the agreed price, now at a significant premium on market value, and it’s reasonably likely they will. This was not a genius move.
- bediger4000 4y ago
  I'm no expert, so what makes Delaware judges specially incorruptible?
  - atlasunshrugged 4y ago
    I mean, besides the fact that generally I don't think overt corruption is that much of a problem in the U.S., the fact that anyone involved with this case will be under a massive microscope and that Delaware as the general standard place to do business deals with many large transactions so this one may not be all that impressive to local judges
  - cormacrelf 4y ago
    Their reputation and their being paid very well to handle a huge proportion of corporate law in America efficiently and fairly. They’re a huge part of the reason everyone domiciles their companies there.
    - bediger4000 4y ago
      Ok. I had understood corporations chose Delaware merely because of the anti-consumer bias in Delaware's laws, but it's good to hear otherwise.
      - dwater 4y ago
        That may have been part of the original reasoning, but now Delaware has built up the world’s most reliable corporate legal system, and companies like a reliable legal system very much.
  - D13Fd 4y ago

pclmulqdq 4y ago

He's overleveraged and most of his companies are on the brink of falling below the point where he gets margin called. The poor sap wanted to rescue a few billions of dollars that could actually survive a recession, but he picked the wrong way to do it.

godelski 4y ago

Honestly, so what if he's out $60 bn. I don't think this would affect his lifestyle in any way whatsoever. But it would affect his high score. I'm guessing at one point he realized the former but later realized the latter and cared more about that. Though he's still got a 88bn lead on second place so I'm not sure why he cares.

atlasunshrugged 4y ago
No matter what it won't be him fronting all the money, he had institutional investors that were ponying up a huge amount of the dough alongside him.
notahacker 4y ago
Not sure it's going to affect his probably-not-that-lavish lifestyle that much. But since those billions are in stock it likely it will affect his level of control of companies, his ability to attract future investments and his future decisions. Which people paying attention to tech companies probably care about more than what flavour caviar he eats and what schools his kids go to anyway.

cormacrelf 4y ago

You can’t bribe the judges in Delaware. They can force him to go through with the deal at the agreed price, now at a significant premium on market value, and it’s reasonably likely they will. This was not a genius move.

bediger4000 4y ago
I'm no expert, so what makes Delaware judges specially incorruptible?
- atlasunshrugged 4y ago
  I mean, besides the fact that generally I don't think overt corruption is that much of a problem in the U.S., the fact that anyone involved with this case will be under a massive microscope and that Delaware as the general standard place to do business deals with many large transactions so this one may not be all that impressive to local judges
- cormacrelf 4y ago
  Their reputation and their being paid very well to handle a huge proportion of corporate law in America efficiently and fairly. They’re a huge part of the reason everyone domiciles their companies there.
  - bediger4000 4y ago
    Ok. I had understood corporations chose Delaware merely because of the anti-consumer bias in Delaware's laws, but it's good to hear otherwise.
    - dwater 4y ago
      That may have been part of the original reasoning, but now Delaware has built up the world’s most reliable corporate legal system, and companies like a reliable legal system very much.
- D13Fd 4y ago