"Spending billions on stockholders" is an odd way to frame giving profits to the owners (the shareholders). Does a small business owner spend money on herself when she makes a profit and moves money from the company account to her personal checking account?
Calling stockholders an expense misrepresents how businesses operate. "Spending" implies expense. Stock buybacks are a way of returning value to shareholders.
Calling stockholders an expense misrepresents how businesses operate. "Spending" implies expense. Stock buybacks are a way of returning value to shareholders.