Trillions of dollars on shitty MMO game. GJ Suckersperg.
(media.kotakuinaction2.win)
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This story is from July 3, 2023
Zuck is still CEO.
Apparently even though he only has ~14% stock ownership, he has enough Class B shares to have 55% voting power over the corporation.
Ppl who invest in that are dumb
Problem is, people invest in META indirectly through index funds/ETFs, especially everyone's favorite index, the S&P 500. 401(k)s and pensions don't pick and choose stock; they get auto-dumped into these funds and pump the market up higher.
Claiming to be big and that people have to buy your stock and then ripping off pension plans is a time honored tactic. I always try to explain to people that money doesn't work for big corpos the way it works for you and me. It's different when you have enough money to control things. These fund guarantee that somebody gets paid. I bet the house gets paid. But the investors can lose all or part of their investment.