Comment on Overturn Citizens United (and launch billionaires into space)
boonhet@sopuli.xyz 4 days agoIt’s all paper wealth, 99% of it is not tangible assets.
LIkely the companies they own can just vote to revoke those shares, increasing every other shareholders’ value in the process. Will likely first need a new law allowing it in the first place as I’m not sure if that’s legal currently.
Or the government takes control of those shares.
HeyThisIsntTheYMCA@lemmy.world 4 days ago
it’s not legal, no. stock buybacks are voluntary, not forced.
boonhet@sopuli.xyz 3 days ago
I figured, which is why there would have to be a law saying that spaced billionaires’ shares can be revoked (or acquired by the government).