News for hackers. Stuff that matters.

A comment on Bloomberg Is Throwing $500M at Efforts to Shut Down All U.S. Coal Plants. Parent comment

Re:Bloomberg Is Throwing $500M at Efforts to Shut Down All U... by akhosravian on Thursday September 21, 2023 @04:32PM (#37603901)
Bloomberg is privately held, and Mr Bloomberg holds 88% of its shares.

In this scenario the board works for him, not the other way around.

[ Parent | on HN ]
Re:Bloomberg Is Throwing $500M at Efforts to Shut Down All U... by dylan604 on Thursday September 21, 2023 @05:20PM (#37604520)
Do you honestly believe that the money used to operate the company comes out of his personal bank accounts? Are you just this unaware of how things work, or are you being a troll?
[ Parent | on HN ]
Re:Bloomberg Is Throwing $500M at Efforts to Shut Down All U... by SCSIfloppy on Thursday September 21, 2023 @05:49PM (#37604892)
That’s not what that person said though. Bloomberg, the company, is an asset of Bloomberg the man, a tool he uses to accomplish… whatever he is up to. It’s a legal fiction under his direct control, money in the bank.
[ Parent | on HN ]
Re:Bloomberg Is Throwing $500M at Efforts to Shut Down All U... by fatfingerd on Thursday September 21, 2023 @05:57PM (#37604974)
If he decides he'll need 500 million more for his personal goals he does a dividend amounting to a reduction of 568 million in Blomberg's money on hand, presto!

Huge difference there because it spent some time in his account, if you are his accountant or if you are Bank of America, but for the rest of us the distinction is largely a waste of time.

[ Parent | on HN ]