- Joined
- Feb 9, 2021
- Messages
- 12,231
Thats the part I don't get.The vast majority of John Ruiz's "wealth" from the SPAC was ON-PAPER wealth (which dissipated) and which has never resulted in cash-money conversion, due to their being no market for the ONCE-PROJECTED value of the company's stock and stock options once it went public and the trading restrictions were removed.
Like, did people in all honesty expect Ruiz to be a billionaire on his bank account because of that deal? Do people not get how money works (probably not, based on how people spend it, but anyway)?
Like, the guy probably is gonna get a shellacking, but he's fine. He'll win two court cases and make more cash than about 95% of this board make in five years. This isn't a Shapiro thing where there is no business behind his scheme.