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    2022 Was a Bad Year for Billionaires—But Not Nearly Bad Enough

    No one alive today needs fortunes worth dozens of billions to live astoundingly large. Here's to a world without billionaires.

    Sam Pizzigati
    Jan 22, 2023

    Sometimes the daily news about our billionaires just doesn’t seem to make any sense.

    Last year, for instance, ended with a torrent of news stories about how poorly the world’s billionaires fared in 2022. Bloomberg tagged the 12 months that had just gone past “a year to forget,” with almost $1.5 trillion “wiped from the fortunes of the richest 500 alone.”

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    Tesla CEO Elon Musk appears at an event

    Musk Stock Sale Ahead of Bad Tesla News 'Should Be of Great Interest to the SEC'

    "What did he know and what was the market anticipating when he sold? That's a critical moment," said one securities law expert.

    Jake Johnson
    Jan 20, 2023

    Experts said Friday that Elon Musk's large sale of Tesla shares shortly before the company announced lower-than-expected vehicle deliveries should draw scrutiny from the U.S. Securities and Exchange Commission, an agency that has previously investigated and charged the billionaire for fraud.

    The Wall Street Journal reported Friday that earlier this month, "Tesla announced fourth-quarter vehicle deliveries that were significantly below the company’s most recent forecast to investors. The news sent Tesla's stock price plunging when markets opened the next day."

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    Elon Musk is displayed next to Twitter's logo

    Concerns Over Disinformation Grow After Musk Relaxes Twitter Ban on Political Ads

    Critics expressed concern about the social media giant serving as "a major new forum for massive amounts of money to be spent to influence politics."

    Jessica Corbett
    Jan 04, 2023

    As advertisers depart Twitter in the wake of Elon Musk's recent takeover, the billionaire owner continues to shake up the social media platform, which on Tuesday relaxed a ban on political and issue-based advertising put in place for over three years.

    When then-CEO Jack Dorsey announced the ban in October 2019, he explained that "this isn't about free expression. This is about paying for reach. And paying to increase the reach of political speech has significant ramifications that today's democratic infrastructure may not be prepared to handle."

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