Zuckerburg is paying only $190M to settle an $8B lawsuit by Facebook shareholders for failing in his oversight duties in the Cambridge Analytica crime.
A reminder that even $8B would’ve been only 3% of his net worth, and $190M is only .08% of his net worth.
About $75 for ordinary working people.
Another reminder that “If the penalty for a crime is a fine, then that law only exists for the lower class.”
@QasimRashid That's where income/net worth based fines come in. Finland recently handed out a six figure fine to a multimillionaire for a speeding ticket.
If your courts and legal system are willing to hand out >$10B fines or punitive damages to the super rich it might actually hurt enough for them to pay attention. Think "I have to sell enough $company stock in one day to pay the fine that I crater the share price and materially dilute my percentage of ownership" level penalties.
Qasim Rashid, Esq.
Andrew Zonenberg
MisterStormwing