The Costly Tweet: Elon Musk’s SEC Settlement on Tesla Privatization
TL;DR: Musk’s 2018 take-private tweet cost him and Tesla $20 million each plus his chairman seat.A 2023 jury later found he owed shareholders nothing for the same words. On August 7, 2018, at 12:48 p.m. Eastern time, in the middle of a trading day, Tesla’s chief executive posted nine words to roughly 22 million followers: … Read more