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tomp

@dang the title is wrong. should be

Michael Bloomberg Is Throwing $500M at Efforts to Shut Down All U.S. Coal Plants

(to avoid confusion with the company)

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Technically, the title is "Michael Bloomberg Gives $500 Million to Shut Down Coal Plants"

He is the company, it's his corporation. He's the founder, owner, and CEO. It's correct to associate anything he does with his company, while in law they're not the same entity, in truth, they can be treated as such.

But if the money is coming from the company accounts vs his own personal accounts makes a huge difference. What an individual does with their money is up to them as they decide. What a CEO does with the money of a company is very much not theirs alone to make. The board might not like it. Other banking rules come into play. Employees not getting a raise might have something to say.

How you can even try to conflate the two as being the same is just short sighted.

Bloomberg is privately held, and Mr Bloomberg holds 88% of its shares.

In this scenario the board works for him, not the other way around.

Do you honestly believe that the money used to operate the company comes out of his personal bank accounts? Are you just this unaware of how things work, or are you being a troll?

That’s not what that person said though. Bloomberg, the company, is an asset of Bloomberg the man, a tool he uses to accomplish… whatever he is up to. It’s a legal fiction under his direct control, money in the bank.

If he decides he'll need 500 million more for his personal goals he does a dividend amounting to a reduction of 568 million in Blomberg's money on hand, presto!

Huge difference there because it spent some time in his account, if you are his accountant or if you are Bank of America, but for the rest of us the distinction is largely a waste of time.

> while in law they're not the same entity, in truth, they can be treated as such

contradiction?

The first line of TFA makes it clear, that he, Michael Bloomberg, is personally doing this.

> "Billionaire, philanthropist, and former NYC Mayor Michael Bloomberg announced this week that he will invest $500 million into his campaign to shut down coal plants and halve gas use by 2030."

Technically, he’s not the CEO of Bloomberg LP

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