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Matt Levine

Patagonia Has No More Owners

Also everything at Twitter is securities fraud, SPAC buyback tax and a Rick’s Cabaret insider sale.


Programming note: Money Stuff will be off tomorrow, back on Monday.

If you own a business and it is a big successful business and makes a lot of money, you will end up getting a lot of money. If you do not want a lot of money (because you find it embarrassing to be rich, etc.), or if you want to give money to good causes rather than spending it on yachts, you can get your check — a dividend or profit share or whatever — from the company each quarter, and then hand the money over to charity. But there are some problems: