• fishpen0@lemmy.world
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    7 months ago

    Rich people don’t sell their holdings like that. They borrow against them and use the loans to pay for everything. If he has a billion or two in equity, then he can get a billion in loans without ever actually selling the shares.

    You can build a vapor ware fraudulent mess, make someone else the CEO and CFO and just be a board member and basically wipe yourself of all liability. You just need enough rubes to keep your stock up through the first week or two of IPO while you close the loans