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Rocket stockDetroit Free Press
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83% Informative
Dan Gilbert and his wife, Jennifer , announced a $500 million philanthropic initiative for Detroit 's neighborhoods in March 2021 .
They sold a corresponding amount of Rocket Companies' stock days after the announcement.
Gilbert said the timing of the two events was coincidental.
The primary purpose of the stock sale was to help cover a shortfall in proceeds from Rocket Cos .' August 2020 initial public offering.
Gilbert says he gave lieutenants prior approval to pursue sale or secondary offering if opportunity arose.
Gilbert insisted that no one sought his specific approval for the sale.
Gilbert said he doesn't know if proceeds from the $500 million stock sale went toward the philanthropy commitment.
Gilbert : "Money is fungible, so I can't say that it specifically was used".
VR Score
84
Informative language
83
Neutral language
55
Article tone
formal
Language
English
Language complexity
47
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
8
Source diversity
3
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