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Comment on Tesla customers in France sue over brand becoming 'extreme right'

Of course it’s not crazy. The CEO went all in on being a fascist piece of shit, and open drug addiction, which has directly damaged the assets of all of his businesses, their assets, and entire brand.

If, within the next 5 years, Elon isn’t billions in debt and destitute, that’s how you know we all live in corporate dictatorships masquerading as “democracies”.

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TheFriar@lemm.ee ⁨3⁩ ⁨days⁩ ago
I feel like we all very, very clearly knew it already.

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Vinstaal0@feddit.nl ⁨1⁩ ⁨day⁩ ago
Why would he be in debt though, the depreciation of the goodwill will not cause him to be millions in debt, just that the company would sell for less. There isn’t a lot of ground to sue Elon sadly, you can sue Tesla for things like this though and there are probably some other things you can sue either Musk or Tesla, but even if you sue Tesla in the ground Musk wouldn’t go into debt from it. Most likely case is that his assets are in a holding company anyway.

The US is a corrupt country and a lot of people are defending it or otherwise funding the corruption. Like why can’t we see the annual reports of the companies these billionairs own?

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- Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨day⁩ ago
  Musk has pledged $62.5 billion in Tesla stock as collateral for margin loans of $12.5 billion.
  
  Giacomo Santangelo, a senior lecturer in economics at Fordham University said “A 20% stock decline on a 60% loan-to-value loan means the borrower must immediately post additional collateral or face forced liquidation. This creates cascade risk, where small declines trigger margin calls, forcing either more pledging or open-market sales, putting more pressure on the stock.”
  
  forbes.com/…/does-elon-musks-borrowing-show-a-sup…
  
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  - Vinstaal0@feddit.nl ⁨1⁩ ⁨day⁩ ago
    Ow right, I forgot the US is a corrupt nation and allows bullshit like this.
    
    Then again, it is most likely his personal holding/company which has the loans and stock and he has 100% of the shares in that company which will go bankrupt if his loans ever default(? I think that;s the right word?).
    
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    Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨day⁩ ago
    Yes. His financial advisors have probably limited his liability. He can lose the value of his holdings, but is unlikely to go into debt himself.
    
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