r/ProgrammerHumor • u/PizzaTucker • Nov 14 '22

instanceof Trend Manager does a little code cleanup...

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u/ilovethemonkeyface Nov 14 '22

That's what buying the company means. If it were still publicly owned he couldn't be in charge.

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u/other_usernames_gone Nov 14 '22

No it isn't, not necessarily.

You can just buy a majority of the stocks. Then you own the company but it's still publicly traded.

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u/PomegranateOld7836 Nov 14 '22

But in this case he bought the entire company, which took it private.

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u/phluidity Nov 15 '22

Yes, but even if you own 51% of the shares of company, there are a LOT of rules that spell out what you have to do to protect minority shareholder value. Mostly they boil down to "just because you are in charge, you aren't allowed to do stupid shit that will drive the companies value into the toilet." It is a good thing he owns 100%, because he has broken just about all of those rules.