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It doesn't matter if they're affected. A judgement is going to be for a dollar amount. A court will rule that Musk must pay twitter X billion dollars. Twitter c
by throwaway09223 4y ago
It doesn't matter if they're affected. A judgement is going to be for a dollar amount. A court will rule that Musk must pay twitter X billion dollars. Twitter can then pursue Musk, taking basically anything he owns in terms of business.
They could contact the broker holding his shares and restrain them, order them sold, and collect the proceeds.
They could seize and sell at auction the real property of any of his businesses. SpaceX rockets? Office chairs? Servers? Anything.
All of this enforcement costs money. Twitter would account for the money spent seizing assets and charge those expenses to Musk as well.
Assets seized in this way (including stock) are often sold for much less than they're ideally worth. It's Musk's problem. Twitter would be empowered to seize seize seize until they've raised enough cash to cover the judgement plus expenses.
- gpm 4y ago> They could seize and sell at auction the real property of any of his businesses. SpaceX rockets? Office chairs? Servers? Anything. They could not, because he does not own those businesses outright. Doing so would violate the other owners rights. They can seize his shares in SpaceX, but not SpaceX property.
- throwaway09223 4y agoSure. The particular way the assets are seized depends on a number of different technical details. But the end result is always the same. You can either voluntarily liquidate and pay your judgements or you can have someone else do it for you.
- kortilla 4y agoI’m having it hard taking you seriously given you making such a basic mistake of thinking they could seize spacex property directly. What industry do you work in?
- throwaway09223 4y agoOh give me a break. Property of a privately owned company can be directly seized. I have not done an analysis on exactly which of Musk's private companies are jointly owned, and how the ownership is structured. It's a comment on hn for crying out loud.
- kortilla 4y agoSpaceX is well known to have a bunch of investors. Put a little effort in before explicitly calling out that the government could seize rockets. It’s as silly as saying they could start just taking Model 3s from the Tesla factory to get their money back.
- throwaway09223 4y agoI think you're misunderstanding. It's absolutely possible to seize rockets, or model 3s, etc. That part isn't silly at all. The only question is regarding which entity is liable. If a judgement were entered against SpaceX, for example, then absolutely rockets and real property owned by SpaceX can be directly seized. Without looking, I'm certain there are at least a few companies owned by Musk which could have their assets taken directly.
- kortilla 4y agoWe’re talking about Elon, not spacex. I don’t get how you’re confusing the two so easily. You claimed they can seize spacex property for Elon debt, which is 100% unadulterated bullshit.
- amyjess 4y agoIf they take all of Musk's shares in SpaceX and acquire a voting majority, they can then use those shares to vote to sell off the company's assets at the next board meeting.
- moomin 4y agoThis is why going behind on a mortgage can absolutely ruin a regular person.