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I mean it's his money, right? He can do whatever he wants with it. Corporations are not democracies and it doesn't matter what market analysts think about how h
by koyanisqatsi 4y ago
I mean it's his money, right? He can do whatever he wants with it. Corporations are not democracies and it doesn't matter what market analysts think about how he should spend his own money and on what projects.
- mpweiher 4y agoAnd the market is free to consider this an unwise investment and tank the stock. ¯\_(ツ)_/¯ Also, since FB is a publicly traded company, it's not actually "his money". It's the shareholders' money (of which he is but one), and thus he has a fiduciary duty to act in the best interest of those shareholders. https://www.law.cornell.edu/wex/fiduciary_duty https://www.law.cornell.edu/wex/fiduciary_duty
- koyanisqatsi 4y agoHe has controlling shares so he is acting in the best interest of the shareholders which is mainly himself.