Suddenly, Tesla’s Elon Musk is Twitter’s Biggest Stakeholder
SnopesSep 09, 2022
The Facts
The Securities and Exchange Commission (SEC) is reportedly investigating Elon Musk over his delayed disclosure of his large stake in Twitter.
Musk was reportedly 11 days overdue in disclosing his purchase of $2.67B of Twitter stock between Jan. and Apr. By delaying his disclosure until Apr 4, he potentially earned upwards of $156M in stock value.
The Spin
Narrative A
While Musk wasn't even close to meeting the filing deadline and the SEC has a strong case against him, there is little it can do to faze someone with that much money. Whatever the outcome, it will very likely amount to nothing more than a bee sting; the investigation is ultimately pointless.
Narrative B
Musk has a history of disregarding SEC regulations, and then turning the tables and accusing the agency of subjecting him to unfounded investigations. Musk's latest stunt potentially netted him millions at the cost of other investors. He must be held accountable.
