cross-posted from: https://lemmy.world/post/19346837
this post was submitted on 02 Sep 2024
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Where did that money go? Now it's just in the hands of some other rich dickheads.
To the people owning Twitter stocks. So a lot of rich dickheads but also to some non rich dickheads and actually good people.
Twitter stocks are no longer traded and all the past investors have been paid the meme price or $54.69 or something like that. They all won the lottery as that was an extremely overvalued price
Unfortunately, the "lost" money is an hypothetical calculation using the current Xitter value and the massive debt that the rat did to purchase Twitter. It's something like wondering "how much money would Larry Ellison get if he found another sucker willing to buy his Xitter shares?"
I am aware. That is how stocks work. The billions "lost" got paid to previous owners of the stock.
I used "owning" instead of "owned", sorry, I guess.
On the upside, if we think better, the answer to the question "how much money would Larry Ellison get if he found another sucker willing to buy his Xitter shares?" is $0 as there would be nobody so insane to buy them.
So that number is the money that he lost for now, if he would be able to sell
I don't believe you.
A Twitter stock was $34 in early 2022 and got bought by musk for $53.70 in late 2022.
You could have made $20 with a $34 investment. There were certainly some good people who invested maybe $340 and made $200.
Ah, you're talking about gamblers who threw a few bucks on the ponies. Sure. Plenty of them were probably fine.
But talk to me about someone who made more than six figures off Twitter stock price arbitrage.
When did I or anyone talked about more than 6 figures? We talked about who got the money and in my comment, I made clear that "a lot of it" went to dickheads. so I thought it was obvious that i wasn't talking about "6 figures".
And also musk was legally required to buy the stocks... It was hardly a gamble. At least not a pony. It would have been a reasonable expectation that people will drive up the price because Elon (that genius) talked himself in a prison sentence if he didn't buy it for that price, like a genius would do.
What on earth makes you think anyone here has any details on people making "six figures"?
That is a paltry sum that the mob give zero shits about.
To some, it seems like an incredible amount of money. To others it is several orders of magnitude too low to even consider.
Don't worry about the people making 6 figures. Worry about the people making 9.