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TheStreet.com
This Tweet Led to a Lawsuit Against Elon Musk
Tesla CEO Elon Musk, who purchased Twitter on Oct. 27 for $44 billion, has a history of tweeting on the social media site long before he owned the company. Musk, who refers to Twitter as the town square of our time, has been controversial in many of his tweets, and one particular message back on Aug. 7, 2018, already cost him millions in Securities and Exchange Commission fines and forced him to step down as Tesla chairman. Musk reached a settlement with the SEC on Sept. 29, 2018, which required the CEO and Tesla to each pay a $20 million fine and for Musk to step down as chairman for tweeting that he could take Tesla private at $420 per share and buy out the company for $72 billion.
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