Jack Dorsey , an ex- Twitter CEO and censor, recently lost $562 million after a notorious short-seller released a report revealing that his payments company Block misled its investors and embraced a criminal user base.
On Thursday, Hindenburg Research released its findings from a two-year investigation, saying that the company “misled investors on key metrics, and embraced predatory offerings and compliance worst-practices to fuel growth,” according to the Daily Mail .
That same day, Block’s shares plunged nearly 15% and Dorsey lost $562 million, which automatically dropped his net worth 11% to $ 4.4 billion.
Bloomberg Billionaires Index reported that shares of Block plunged nearly 15% on the day, and Dorsey’s net worth took a $562 million hit, dropping 11% to $4.4 billion.Even though Hindenburg is not an unbiased watchdog, it previously led to criminal charges and convictions, like […]
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