Skip to main content

Jack Dorsey says he’s wanted Elon Musk to join Twitter’s board of directors “for a long time.” So we imagine, then, that it’s just a coincidence that time has come just after the Twitter chief dropped somewhere between $2 billion and $3 billion on 74 million Twitter shares.

“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” Musk said in a tweet…. Hours after his holding in the company was revealed, Musk took to Twitter to poll users on interest in an edit button. Agrawal retweeted the post, urging people to “vote carefully” as the consequences “will be important.”

Musk, of course, is worth $275 billion, so for him it could all just be a laugh, albeit a lucrative one. (Twitter shares jumped 27% after Musk’s 9.2% stake emerged.) Not laughing at all, as per usual? The Securities and Exchange Commission.

The Tesla Inc. chief executive disclosed his 9.2% holdings in a form investors are required to file when they buy more than 5% of a company’s stock, without planning to seek control. But the notice came several days late. It also didn’t include a standard certification that underscores an investor’s passive status…. “He is making all these claims the SEC is harassing him and going after him for nothing, and if he goes ahead and violates a pretty straightforward rule, that is certainly not going to help his argument with the judge,” said David Rosenfeld, a former senior SEC enforcement attorney now teaching law at Northern Illinois University….

The SEC also could inquire about Mr. Musk’s self-declared stance as a passive shareholder. He hadn’t disclosed his stake before tweeting dissatisfaction with the company’s content-moderation policies in late March, when he raised the question of whether a new social-media platform was needed.

Elon Musk to join Twitter’s board of directors, teases ‘significant improvements’ [CNBC]
Elon Musk’s Twitter Investment Raises New Regulatory Red Flag [WSJ]

or more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.


By Heisenberg Media (Flickr: Elon Musk - The Summit 2013) [CC BY 2.0], via Wikimedia Commons

Someone Else Doesn’t Like Elon Musk’s Tweets

Nor, for that matter, is Congress particularly amused by Jack Dorsey’s.

twitter login

Actually Twitter’s Pretty Happy To Not Be Owned By Elon Musk

If there were any doubt about it, here’s a poison pill the company’s got between its teeth, ready to bite down should Musk place any large orders.


Gary Gensler Sticks His Finger Into Alleged Ponzi Schemer’s Still-Raw Gunshot Wound

If it’s any consolation, Matthew Beasley will be in prison for so long it won’t matter how much the SEC orders him to pay.

Elon Musk Smoking

Elon Musk Asks Court To Allow SEC To Force Him Out As Tesla CEO

That’s probably not what he thinks he’s asking for, but it is.


Elon Musk Versus The SEC Is Getting Stupider

We’re at the “seeing what sticks” portion of Tesla’s bid to get out from under the deal it signed and has never lived up to.

By Heisenberg Media (Flickr: Elon Musk - The Summit 2013) [CC BY 2.0], via Wikimedia Commons

Boy, You Sure Can Rely On That Elon Musk, No?

Man of his word, he is. Not that he understands words.


Technoking Of Tesla Sued For Tweeting

Sadly, nothing about the above headline is satirical or even exaggerated.

Quit hiding behind the bench. By Phil Roeder (Flickr: Supreme Court of the United States) [CC BY 2.0], via Wikimedia Commons

Supreme Court May Get The SEC Off Elon Musk’s Case

Someone else is doing a better job of fighting regulator-mandated speech restrictions than the world’s richest man.