If Murdoch pays FULL damages to Dominion, that's 9% of his net worth. Why would he care?

[Miles Archer]

He writes the check, his net worth is reduced to somewhere between 15 and 16 billion.

His "I could have stopped it, but I didn't" remarks during his testimony clearly shows he does not GAF.

I do understand that billionaires can be incredibly tight fisted, but I'm having a hard time seeing how he doesn't just shrug this off as a slap on the wrist and then immediately get back to the business of lying his ass off for fun and profit.

Am I missing something?

[orthoclad]

1. Ah, those wacky billionaires

44bil? Pfft, worth the 4-20 jokes.

[Miles Archer]

4. Twitter was payback to Elizabeth Warren and...

...every other Democrat who called for billionaires to pay their fair share in taxes.

It was almost immediately after this that Musk became rabidly anti-Democrat and feverishly pro-Republican.

I don't believe there was any more of a dominant motive for him. He turned the platform into a Republican toilet echo chamber, which is exactly what he wanted.

[orthoclad]

7. He always was an evil little twerp

Bought other people's work with apartheid-era mining money.
Tried to kill his workforce by ignoring covid protocols
etc etc

[multigraincracker]

2. To me, we are

talking some real money here. Then there is the other case for 2.6 billion. Might be a pattern.

[mobeau69]

3. Did you include punitive damages?

[Miles Archer]

5. No...would that be on top of the $1.6 Billion? n/t

[inthewind21]

8. Yes

[Aviation Pro]

6. Do you really think that billionaires have that much cash on hand?

They don't, they're wealth is mostly in assets and to have any kind of personal 'cash flow' they take out loans against those assets, which makes their income tax free.

The loans are then paid back through corporate cash.

[Miles Archer]

10. You're right, I don't understand how it works, so thanks for clarifying

I'm intellectually curious in a number of areas, but have no curiosity at all when it comes to the wealthy and how they manage their money, hence my lack of savvy. I get it now. It would absolutely hurt. Not enough to end his rotten career, but enough to hurt more than simply writing a check.

[AltairIV]

9. Raising cash

While I understand your point, there are additional costs that must be borne, not all financial. Lawyers fees, he will need to sell some assets to actually raise that kind of money, he faces a second law suit for additional money. If he loses the first, he will lose the second. Being sued and (if) he does lose will play havoc with his stock and reputation, such as it is.

[Miles Archer]

11. Yep. I missed all of that.

Not sure what the final wash will be on his reputation. I don't see the viewers caring, and as long as they're still plugged in, the advertisers will be there as well. But it's not just the amount of judgement. That's getting clearer to me now.

[Mr.Bill]

12. I saw an interview with Bill Gates

right after the recession in '09. The interviewer said so, a few weeks ago you were worth 90 billion dollars and now you are worth 50 billion dollars. What's the difference, really? His answer? "40 billion dollars". When asked wasn't 50 billion more money than he could possibly spend in his lifetime, he said it's more of a way of keeping score. To me, those are the words of a very sick person.

[relayerbob]

13. He's not personally liable

Unless he is the defendant, but he’s not, as far as I know. Fox News, the corporation is. They can’t go after his personal assets., so he won’t be “writing a check”.

[CanonRay]

14. A billion here, a billion there

Pretty soon you're talking real money.

[EleanorR]

15. Dominion wants fox to retract the lies

That would be very costly.

https://www.nbcnews.com/politics/donald-trump/dominion-fox-news-needs-retract-lies-2020-election-rcna74041

[Generic Brad]

16. At age 92 it doesn't financially hurt him

Still too wealthy to feel any financial impact in his life.

[brooklynite]

17. The money DOESN'T come from Murdoch....

It comes from News Corp (NWSA) a publicly traded company.

[lame54]

18. This is the FIRST lawsuit

[brooklynite]

19. Which, AGAIN, he's not responsible for.

Murdoch is not being sued.