Re:Facebook Renames to Meta
by AlexandrB on Thursday October 28, 2021 @03:31PM
(#29030579)
It's especially dubious in Facebook's case because Mark Zuckerberg controls the majority of voting shares. If he wanted to run the company straight into the ground I doubt anyone could stop him.
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Re:Facebook Renames to Meta
by FormerBandmate on Thursday October 28, 2021 @05:20PM
(#29032178)
Mark Zuckerberg could not make his salary $800 billion, or donate the entire company to charity. That’s what that means, nothing about business decisions
>Mark Zuckerberg could not make his salary $800 billion
This would be an interesting test case. The limits on what he can or cannot do are remarkably ill-defined.
Mark Zuckerberg couldn't donate Facebook the corporation to charity, but he absolutely could donate all of his personal Facebook shares to charity. If he did that then the charity would have a controlling stake.
Re:Facebook Renames to Meta
by threatofrain on Thursday October 28, 2021 @04:26PM
(#29031449)
I don't think you can sell shares to the public and then deliberately screw over your shareholders. If Zuckerberg acted terribly then he may be exposed to liability.
That's a question of malicious intent - if he intended to directly cause damage to specific shareholders than yea - they'd have a case. General idiocy isn't going to fall into that category though - shareholders all voluntarily bought their shares.