Elon Musk set to lose $20m and Tesla’s chairman post over his ‘$420’ tweet



Elon Musk - Elon Musk set to lose $20m and Tesla’s chairman post over his ‘$420’ tweet
Elon Musk’s trying times continue, as he’s been slapped with a $20 million fine, and resign as Tesla’s chairman to settle a case with the US Securities and Exchange Commission (SEC). The agency sued Musk for allegedly misleading investors with his recent “Funding secured” tweet, which also mentioned a plan to take the company private. Am considering taking Tesla private at $420. Funding secured. — Elon Musk (@elonmusk) August 7, 2018 Tesla will also have to pay $20 million separately and add two new independent directors to its board. In addition, it will have to keep a tab on Musk’s…

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